The Philadelphia Mastermind Group had the opportunity to hear from Ken Wellar of Rittenhouse Realty Advisors in this month’s Member Spotlight. Ken discussed the multi-family market in Philadelphia and the surrounding areas and shared details about some of his recent deals. He noted, among other things, the number of investors from larger cities like New York City who have taken an interest in Philadelphia properties. Rittenhouse had a great first quarter, closing over $100 million in multi-family sales. Among a number of projects was the sale of Las Casas Apartments in Wilmington, Delaware. The 120 unit complex sold to a New York based client for $10.3 million. Rittenhouse is seeing investors from New York and New Jersey being extremely aggressive in both the Philadelphia and Wilmington markets.
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