Philadelphia State Of The Market

Since 1980, Allan Domb and his highly reputable real estate brokerage firm have been known throughout the United States as key contributors to Center City Philadelphia’s luxury condominium market. Today, Allan continues to specialize in Center City luxury condominium sales in buildings such as 10 Rittenhouse, 1706 Rittenhouse, 1820 Rittenhouse, 1830 Rittenhouse, 1900 Rittenhouse, 220 West Rittenhouse Square, Academy House, The Bank Building, The Barclay, The Dorchester, Hopkinson House, Independence Place, The Lanesborough, The Lippincott, The Murano, Parc Rittenhouse, The Philadelphian, Pier 3, Pier 5, The Rittenhouse, Society Hill Towers, Symphony House, Wanamaker House and The Warwick Condominiums. Additionally, Allan’s company leases residential apartments, condominiums and commercial properties and manages many of these assets. Since 1999, Allan has also been engaged in the adaptive reuse of historic buildings into luxury condominiums and the development of new luxury condominiums in Center City. His portfolio of development properties includes Parc Rittenhouse, The Warwick, The Bank Building Residences, The Lanesborough, 220 West Washington Square and The Barclay. Nationally, Allan has been ranked a top producing real estate broker for the past twenty five years. From 1986 to 2004, Allan was ranked the top residential broker in the United States. He was named REALTOR® of the Year by the Greater Philadelphia Association of REALTORS® (GPAR) in 1992 and 2013 and was named REALTOR® of the Year by the Pennsylvania Association of REALTORS® in 2013. Allan received his Bachelor of Arts degree from American University. He currently serves on the boards of the Friends of Rittenhouse Square and six condominium associations, of which he is the president of two. He is a past president of the Friends of Rittenhouse Square and has served on three other condominium boards in the past. In 2015, Allan was elected as a Philadelphia City Councilman At-Large. His agenda includes lowering the poverty rate, collecting delinquent taxes owed to the City, increasing high school graduation rates, promoting job growth through the retention of existing businesses and attracting new businesses to Philadelphia, and streamlining all aspects of city government to make it more efficient. Allan has been quoted and featured in The Wall Street Journal, USA Today, Forbes, Business Week, The Philadelphia Inquirer, Urban Land, Multifamily Executive, and many other publications. He also often appears on Philadelphia’s NBC10, 6ABC, CBS3, CNBC, MSNBC and FOX29.

A native of New England, Ron Caplan studied business management at Northeastern University before relocating to the Philadelphia area and launching his career in real estate development. In 1978, what started with the purchase of several single-family homes soon expanded into a collection of multi-unit housing ventures located throughout the city of Philadelphia. Ron founded PMC Property Group (then called Philadelphia Management Company) in 1981 when the number and size of his properties had grown robust enough to require the services of a management company. Since that time, Ron has also assembled a general-contracting division within PMC Property Group, making the company a full-service developer focused on adaptive-reuse projects spanning the East Coast. Known for a skillful attention to details, Ron takes a detailed, personal approach to overseeing PMC's extensive real estate holdings and the company's future growth. Under his strategic direction, the company has become the largest owner/operator of rental units in the city of Philadelphia.

Matthew Pestronk is co-founder of Post Brothers, a real estate investment, development and management company with singular and unique expertise in urban real estate development. Matthew serves as President of the company, engaged in the sponsorship of Class-A multifamily, mixed-use and retail development projects comprised of over 7,000 units that are operating, under development or disposed plus, over 400,000 sf of commercial space, with a total capitalized cost in excess of $2.5 billion. Matthew shares strategic leadership of the company with his brother, Michael, and is engaged in asset management, financing, and project and capital formation. Matthew has worked in real estate capital transactions for his entire 20+-year career and was previously a real estate financing executive in New York City prior to forming Post Brothers. Matthew is also very active in his community and has board service experience for multiple charitable organizations including the Philadelphia Holocaust Remembrance Foundation, Beat the Streets Philadelphia, West Nottingham Academy, Children's Hospital of Philadelphia and is the Immediate past Chair of Jewish Federation Real Estate.

Jacob E. Reiter is an investor, Managing Partner at Gramercy Park Capital and President of Verde Capital Corp. Founded in 2011, Jake is responsible for strategic investor, operator and platform development (including investment strategies, technology and risk management). Jake is the product of a fourth-generation real estate development family founded in NYC in 1900. Jake has several decades of experience developing capital solutions for real estate operators including developers, funds and REITs on a national basis. Jake brings a pragmatic approach to providing equity and structuring debt for development projects, acquisitions and recapitalizations in all asset classes. With a unique and broad-based background in corporate and leveraged finance, public/private sector transactions, capital markets and strategic tax planning, Jake is able to facilitate maximum asset values and returns for operators and investors. Jake is a Research Sponsor of the Zell/Lurie Center and Ballard Executive Speaker, a member of the National Multifamily Housing Council, NAIOP and ICSC. Jake also sits on the executive boards of Jewish Federation Real Estate (JFRE), Jewish Federation’ Real Estate Committee, and serves as Co-Chair of the Philadelphia Holocaust Remembrance Foundation. Jake attended Washington University in St. Louis and Harvard University.

Prior to joining Colliers, Joe was Senior Vice President at Jones Lang LaSalle, where he led the company’s regional higher education, healthcare and public sector consulting and brokerage practices. Before joining Jones Lang LaSalle, Joe was Senior Vice President and Co-Managing Principal of The Staubach Company in Philadelphia. Projects of note include headquarters for General Instrument (Motorola Broadband), NFL Films, Tyco International, AmeriHealth New Jersey, Parker McCay and regional offices for AIG, U.S. EPA and U.S. GSA. Joe has managed the acquisition, leasing, and development of more than 4,000,000 SF of office space on behalf of corporate and institutional clients and has developed strategic real estate plans for Air Products, OKI Data Americas, Organization of American States, Kutztown University, Camden County College, Bancroft NeuroHealth, tAmerican Revolution Center and The Wistar Institute.

Leonidas Addimando (“Leo” for short) is a Managing Partner and Co-Founder of Alterra Property Group, LLC (“Alterra”). In addition to experience with a diverse range of real estate product types, Leo has also invested in over 15 states, built over 1,000 residential units, structured complex tax credit transactions, and overseen all aspects of numerous real estate development projects. Previously, Leo was an early employee of Orbitz.com, serving the company for three years in numerous business and corporate development capacities. Leo’s largest accomplishment while at Orbitz was spearheading the development and implementation of both a travel insurance re-sale business, and a hotel business, that together served as key profitability drivers which helped Orbitz to complete a successful IPO in 2003. Before working at Orbitz, Leo worked as an Associate for the Boston Consulting Group in various management consulting capacities, and across numerous industry groups. Prior to that, he was the co-founder of both a media start-up and an internet start-up. Leo has an MBA from the Harvard Business School (“HBS”) and a B.A. in Economics and Political Science from the University of Michigan. Leo is a Board Member of the Preservation Alliance of Greater Philadelphia, the Philadelphia Building Industry Association, and the Old City District. Leo is a native of Center City Philadelphia and currently resides there with his wife (Brigitte Castaing Addimando, HBS ’05) and three children (Nico, Marcus & Sophie). In his spare time, Leo enjoys spending time with his family, golf, running, attending live sporting events and travel.

Rich directs the development, leasing, and management of Keystone’s portfolio with a forward-thinking insight that brings concepts to execution. At Keystone, he’s credited with over 20 million square feet of lease transactions and five million square feet of development, collectively valued in the billions of dollars. His career-defining transaction (so far) is signing Amerisourcebergen to their new headquarters, catalyzing the development of SORA West in Conshohocken. Prior to Keystone, Rich held leadership roles at Stoltz Management Company, Prentiss Properties Trust, and Pennsylvania Real Estate Investment Trust. Rich holds an MBA from Temple University and is a licensed real estate broker in Pennsylvania.

Anne Bovaird Nevins serves as President of PIDC where she is responsible for the organization’s efforts to develop and implement collaborative strategies designed to drive economic growth to every corner of Philadelphia. In this role, Anne leads PIDC’s efforts to strengthen relationships with the public, private and philanthropic sectors to promote business growth, investment and development across the city and throughout its economy. She also directs internal activities around business development, capitalization, impact assessment, and the development and delivery of real estate and financing products that fill project financing gaps for neighborhood and large-scale commercial, industrial and mixed-use developments, deliver capital to growing businesses, and energize the development of the city’s workplaces of the future. Prior to her appointment as President in January of 2020, Anne served as PIDC’s Chief Strategy and Communications Officer, a key member of the executive team where she oversaw capitalization, product development, strategic communications, and partnerships. Prior to this role, Nevins served as PIDC’s Senior Vice President for Marketing and Business Development for six years where she led a team that transformed PIDC’s brand identity, developed new lending products, and generated 360 loans to small, diverse, and growing businesses investing over $117 million dollars located in 94% of Philadelphia’s zip codes. Anne has served on the Mayor’s Refinery Advisory Group for the City of Philadelphia, co-managed Philadelphia’s Amazon HQ2 bid, and has created and led PIDC and ULI Philadelphia’s partnership advisory committee on the future of work and its impact on industrial and commercial land. From 1999 to 2001, Anne served in the White House Office of Cabinet Affairs, which is responsible for coordination between the President and all cabinet agencies. She then joined the Salt Lake Organizing Committee for the 2002 Olympic Winter Games and managed the logistical and hospitality arrangements for all U.S. dignitaries attending the Olympics. Anne then managed corporate sponsorships for the Kimmel Center, the regional performing arts center in Philadelphia. She next served as Director of Development for Historic Philadelphia, Inc. and raised substantial funds to renovate Franklin Square, an 8-acre urban park in the center of Philadelphia’s historic district. Anne has a Masters in Business Administration from the Wharton School and a Bachelors Degree in Political Science from the University of Pennsylvania. She lives with her family in the Fairmount section of Philadelphia and serves on the Board of Directors of the Friends of Bache-Martin, supporting the neighborhood public school.

With more than 25 years in public accounting, George devotes most of his time serving clients in the Real Estate Industry. These include developers, commercial and residential operators, hotels, property and asset managers, home builders, private equity funds, and individual investors. In 2009, he took on the lead role of the legacy LarsonAllen firm’s Real Estate practice and has brought that experience forward focusing on further developing the firm’s capabilities in advisory, assurance, and tax services available to clients in the real estate and hospitality space. He also is a lead resource in the firm helping clients in real estate workout transactions. Technical experience: • Assists clients in selecting entity status, advises on partnership and LLC formations, helps with modeling IRR calculations and waterfall provisions, and forecasting distributions and allocations under IRC Subchapter K • Provides consulting and expert services related to performance, cash flow, and operations of commercial real estate and hotel operations, including litigation support • Helps clients assess the benefits of cost segregation studies, repair studies, change in accounting methods, as well as help facilitate closely-held business strategic planning initiatives, and design and implementation of succession plans Education/professional involvement: • Bachelor of business in accounting from Temple University, Philadelphia, Pennsylvania • American Institute of Certified Public Accountants • Certified Public Accountant in the state of Pennsylvania Speaking engagements: • Pennsylvania Bar Institute panelist on Distressed Real Estate transactions • Testified in Federal Bankruptcy Court (Trenton, NJ) on feasibility of petitioner’s plan.

Neil Beldock has over 30 years of experience as a real estate finance professional. Over those 30+ years Neil has held positions at Citigroup, Coast Federal Bank of California, Independence Bank of Los Angeles, Family Savings Bank of Los Angeles, Hamburg Savings Bank of New York, Interbay Funding and Velocity Commercial Capital. Neil has held executive and senior level management positions covering loan originations, loan operations, loan servicing, secondary marketing, loan securitization and joint venture operations. Neil is also a published author having written articles for numerous mortgage industry publications including the Scotsman Guide, Commercial Mortgage Insight, The Mortgage Press and National Mortgage Broker Magazine. Currently, Neil serves as a Senior Executive at Pender Capital Funding in Dallas, Texas.

Gary Bechtel leads the investment management leadership teams with direct oversight of all portfolios. Gary Bechtel served as President of Money360 and was responsible for developing and executing Money360’s expansion strategy. Gary also served on Money360’s Credit Committee and Board of Directors. Prior to joining the Company, he was Chief Lending/Originations Officer of CU Business Partners, LLC, the nation’s largest credit union service organization (CUSO). Previously, Gary held management or production positions with Grubb & Ellis Company, Meridian Capital, Johnson Capital, FINOVA Realty Capital, Pacific Southwest Realty Services and Hometown Commercial Capital. Gary began his career with the Alison Company and over the past thirty-four years has been involved in all aspects of the commercial real estate finance industry, as a lender and as an intermediary, including the origination, underwriting, structuring, placement and closing of over $10B in commercial debt transactions, utilizing various debt structures which have included permanent, bridge, equity, mezzanine and construction on transactions of $1M to $250M. These transactions were placed with a variety of capital sources that included life companies, commercial banks, credit unions and equity and mezzanine funds, on property types that included office, retail, industrial, multifamily, hospitality, self-storage and manufactured housing. He is or has been a member of the Mortgage Bankers Association of America, California Mortgage Bankers Association, National Association of Industrial and Office Properties, and International Council of Shopping Centers. Gary has spoken at numerous industry events and written articles and has been regularly quoted in a number of regional and national publications.

Senior Vice President and Managing Director, John Banas, brings more than 11 years of commercial real estate experience to Walker & Dunlop. Based out of the Company’s Philadelphia office, Mr. Banas is responsible for the origination and placement of debt, mezzanine debt, preferred equity, and JV equity for all property types. Mr. Banas began his career in the commercial real estate industry with a regional firm in 2005 and has since closed more than $1 billion in commercial real estate financing transactions. Most recently, Mr. Banas was a senior vice president and director at Colliers International. Prior to his time at Colliers, he served as senior director on Marcus & Millichap Capital Corp.’s IPA Capital Markets platform. Prior to entering the commercial real estate industry, Mr. Banas owned and operated a chain of independent fitness centers in the Philadelphia Area. Mr. Banas holds a Bachelor of Business Administration in both real estate and human resources management from Temple University. Beyond the Company, he is a member of the Mortgage Bankers Association, Urban Land Institute, the International Council of Shopping Centers, and Provident Bank’s Advisory Council.