Philadelphia State of the Market

John joined AREP in 2011 as Managing Director of Asset Management. In his role, John oversees all aspects and the execution of the long-term capital for half of AREP’s total portfolio. Before joining AREP, John was a Senior Associate at The Carlyle Group (NASDAQ: CG). He was responsible for managing a team of professionals supporting a $2 billion diversified real estate portfolio. Before joining The Carlyle Group, John was an Associate with Morgan Stanley’s Real Estate Private Equity practice. He managed a 3.6 million SF diversified real estate portfolio and negotiated and closed more than $900 million in disposition transactions. John got his start in real estate at Ernst & Young as a consultant in EY’s Real Estate Consulting and Advisory service line. John holds a Bachelor of Business Administration degree in Accounting and Finance from the University of Miami (FL) and a Master of Science degree in Taxation with a Finance concentration from the McCombs School of Business at the University of Texas at Austin. He is actively involved as a member of the Urban Land Institute and serves as a local Boy Scouts of America troop leader.

Nylz Reyes is an associate for Northwestern Mutual Real Estate where he provides due diligence support for all debt and equity investments across all property types along the east coast for Northwestern Mutual’s $50 billion real estate investment portfolio. Prior to Northwestern Mutual, he worked for CBRE’s Healthcare Group in Boston, Ma where he specialized in the valuation of healthcare properties across the nation. He later transferred to CBRE Philadelphia where he valued all property types within the Philadelphia Metro Area for a broad base of clients. Before CBRE, he was a healthcare provider at the Hospital of the University of Pennsylvania. He saw the writing on the wall for the future of healthcare and decided to career pivot into the commercial real estate industry. However, Nylz’s transition did not come without tribulations, and once given the opportunity, he co-created and led CBRE’s Philadelphia Diversity Taskforce. Nylz completed his undergraduate studies at North Carolina A&T State University and recently received a Master's of Science in Real Estate degree from New York University.

Prema is the new President and CEO of the Center City District (CCD) as of January 2024. She oversees all aspects of the CCD's planning, strategy, economic development and operations. The CCD is a downtown management district, which provides security, cleaning, place marketing and planning services, as well as streetscape and park improvements for the central business district of Philadelphia.

Laurence Steinberg joined Colliers in April 2019 to lead and further grow the Urban Retail division in Philadelphia. Larry has an extensive 25-year plus career in commercial real estate that includes development, consulting and brokerage. Prior to joining Colliers, Larry headed up the Retail group at Rittenhouse Realty Advisors (RRA), served as an Executive Vice President with CBRE (FAMECO), a Principal of Michael Salove Company, and as a Partner in L.S. Powell Company, where he developed over one million square feet of commercial real estate. For over a decade, Larry has brokered deals with acclaimed restaurateurs, premier restaurant chains and national retailers in the Philadelphia area. He has represented Morton’s Steakhouse for all of their Philadelphia and surrounding area locations, including their highest grossing unit at Caesar’s Palace in Atlantic City. Larry has worked closely with Philadelphia restaurant luminaries such as Stephen Starr, Jose Garces, Marc Vetri, Kevin Sbraga, Steven Cook and Michael Solomonov. Larry’s retail presence can be seen throughout Center City. He was successful in bringing national retailers to Philadelphia such as H&M, The North Face, Cole Haan and West Elm. Recent noteworthy transactions include the first Target store in Center City and deals for Warby Parker, Theory, Madewell, Under Armour, a 26,000 square foot Walgreens flagship store, and a 40,000 square foot Nordstrom Rack. In addition to leasing, Larry has brokered the sale of important retail properties, including nine buildings along Walnut Street in Rittenhouse Square. Most recently he represented the Seller for the sale of 1330 Chestnut Street, 1529 Walnut Street, and 1700 Chestnut Street.

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.

Seth Mackler is the Managing Director and Executive Vice President of Real Estate Finance at Firstrust Bank. Firstrust is a $5 billion in assets, family-owned community bank headquartered in Conshohocken that specializes in building relationships with small businesses. At Firstrust, he has lead the expansion of Firstrust in the Maryland & DC markets and spearheaded a national platform to finance the construction of Net Leased properties. Seth has been a banker for over 30 years. He started his career as a banking examiner with the Department of the Treasury and subsequently was an executive at Prime Bank, Summit Bank, and Commerce Bank in a variety of roles. Seth has served on a number of boards and was formerly president of the Risk Management Association of Philadelphia. He is also a former director of the National Kidney Foundation of the Delaware Valley and the Penn SE Mezzanine Fund. He has two children and resides in Conshohocken, Pa.

Ms. Doelger is responsible for acquisitions, dispositions and asset management. Previously, Ms. Doelger was an Associate Director of Redevelopment at Pennsylvania Real Estate Investment Trust, where she was responsible for project management and financial analysis of redevelopment projects within the company’s portfolio of enclosed shopping malls. Prior to joining PREIT, Ms. Doelger was a Senior Development Manager for Buckingham Companies, where she secured entitlements and directed building design for a variety of product types including market-rate apartments, student housing, senior housing, townhomes, and mixed-use properties. Ms. Doelger is also experienced in the development and leasing of retail properties, having directed real estate and development for Taco Bell in the Philadelphia area. She started her career with Kravco Company as an Urban Retail Specialist. Ms. Doelger holds an MBA with a concentration in Real Estate from the Wharton School at the University of Pennsylvania, where she was a Palmer Scholar and Co-President of the Wharton Real Estate Club. She also holds a Masters of City Design and Social Science from the London School of Economics and Political Science, where she received a Thouron Scholarship. Ms. Doelger graduated summa cum laude from the University of Pennsylvania with a B.A. in Urban Studies and Classical Studies. Ms. Doelger is a member of the Commercial & Retail Development Council of the Urban Land Institute, and was a co-founder of the Indiana District Council of ULI in 2007. Ms. Doelger has served on a variety of nonprofit boards in the Philadelphia area, and currently is a Director of the Passyunk Avenue Revitalization Corporation.

Jennifer Ilana Tintenfass focuses her practice on representing lenders and developers in many aspects of real estate transactions, including real estate secured financings, term and construction loans, acquisitions, dispositions, joint venture development, leasing, and due diligence analysis. With respect to lending work, Jennifer represents borrowers and lenders in connection with acquisition, construction, bridge/permanent, and affordable housing financings. Jennifer also has substantive experience in land use and zoning work in the City of Philadelphia, with a special emphasis on raw land and projects involving single- and multi-family housing, retail, and mixed-use developments. She has also successfully guided clients in working with federal, state, and local funding, grant programs, and entitlement processes. Jennifer was named a 2020 Philadelphia Business Journal, Real Estate Dealmaker "Rising Star" and has been selected as a “Rising Star” by Pennsylvania Super Lawyers Magazine for the last five years.

Jamie started his career in precast concrete at High Concrete Group over 23 years ago. He earned an Associates' Degree from York Technical Institute and furthered his education by earning a BS in Business from Albright College. He enjoys working with precast concrete because it is the most versatile product in the world. Precast concrete has the ability to turn your design dreams into a reality. When Jamie is not working, he can be found on the golf course or spending time with his son.

Jodi Rennie is vice president and general manager of Turner’s Pittsburgh office and is responsible for the general management and operations of Western Pennsylvania and West Virginia. Jodi provides executive-level leadership and management, establishing communication protocols, overseeing staff development, and supervising risk evaluation, contract negotiations and pricing decisions. Jodi is a graduate of Rutgers University and joined Turner in 1987 working on various assignments during her career. In 2015 she was named vice president and in 2017 became the vice president and general manager of the Pittsburgh Office. Jodi sits on the Board of Directors for the Master Builders' Association of Western Pennsylvania (MBA).

Mr. Mele, Managing Director in the Company’s Northeast Metro Division, oversees industrial development and investment activity in the northeast United States. In his capacity, Mr. Mele is responsible for all aspects related to development including: deal sourcing, strategic planning, development execution, financing, leasing and disposition of both speculative and build-to-suit projects. Since rejoining TCC in 2005, Mr. Mele has been responsible for the entitelment and/or development of approximately 9.5 million square of industrial assets.​​​

Urban visionary Carl. E. Dranoff has earned national recognition for his game-changing approach to residential development in the urban core. As founder and CEO of Philadelphia-based Dranoff Properties, Dranoff has developed over 1.4 million SF of prime real estate valued at $1 billion with projects ranging from ground-up skyscrapers, adaptive reuse, and mixed-use developments. Developments, built by Dranoff, share a common theme – they are stylish, character-defining, beautifully designed expressions of modern luxury living. Philadelphia's most iconic condominium high rises, including One Riverside, 10 Rittenhouse, Two Liberty, Symphony House, and the under-construction Arthaus, are his work. The uber-luxurious, trend-defying Arthaus is Dranoff’s latest achievement which recently welcomed its first residents. Located across from the Kimmel Center and designed by international A-list architect Kohn, Pedersen Fox, the condominium residences feature expansive skyline and river views and floorplans and finishes worthy of a magazine spread. The resort-style amenities, green spaces, gardens, and white-glove service make every day feel like a vacation. Over his career, Dranoff has had a steady stream of development achievements that have raised the bar on luxury living and changed the equation for urban living. His game-changing apartment and condominium developments are credited with turning around many declining Philadelphia neighborhoods, the Camden, NJ's Waterfront, Newark, NJ's art district, and the Ardmore PA's business district. Dranoff earned his B.S. in Civil Engineering at Drexel University and his MBA at Harvard University. He was also awarded an Honorary Doctorate in Engineering from Drexel University, which cited him as "a nationally recognized civic leader and entrepreneur…whose work has brought a renewed sense of history to Philadelphia and urban Americans throughout the country".

As President and CEO, Robert Zuritsky has positioned Parkway to continue as an industry leader in parking management, development, and technology. Mr. Zuritsky began his parking and business education at age 12 by working various field positions at Parkway's facilities, advancing steadily through the ranks until ultimately assuming the positions of President in 2002 and CEO in 2019. In his role, Mr. Zuritsky oversees each of Parkway's departments and leads the Company's strategic growth through garage acquisition, real estate development, and new management opportunities. Mr. Zuritsky received his M.B.A. from Temple University in 2001, currently serves as the President of the Philadelphia Parking Association, a director and President-elect of the NPA, and an active member of the Young Presidents Organization. He also actively serves on nine boards, including a financial institution, several parking technology companies, and the Philadelphia Municipal Authority, in addition to supporting the arts and a number of charitable organizations.

As President, Michael Markman oversees acquisitions, leasing, financing and development for BET Investments, a real estate management and development company that owns, manages, develops and leases shopping centers, office buildings and apartment complexes throughout the United States. Mr. Markman was formerly general counsel of a publicly traded New York Stock Exchange real estate investment trust (REIT) with over $500 million in assets where he managed all legal matters. He is a graduate of the University of California, Berkeley and the Temple University School of Law and is member of the Pennsylvania Bar. He is a Commissioner in Abington Township, Pennsylvania, past chairman Abington Township Planning Commission, a member of the Board of Directors of the John A. Robbins Company and on the Board of Trustees at Ursinus College. Mr. Markman is a frequent speaker on industry topics and serves on the boards of various charitable groups.

Joseph F. Coradino is Chief Executive Officer of PREIT, a publicly traded Real Estate Investment Trust (NYSE: PEI), since 2012 and Chairman of the Board since 2016. PREIT owns and manages a portfolio comprising over 20 million square feet of dynamic retail properties, primarily shopping malls, with a concentration in two top 10 markets, Philadelphia and Washington DC including flagship properties in the Philadelphia market – Fashion District and Cherry Hill Mal. Mr. Coradino is a visionary leader in retail real estate with an impressive track record of accomplishment. As CEO during a major transition in retail, he had the foresight to take swift action to improve PREIT’s portfolio well-ahead of its industry peers, making important business decisions that enabled the Company to capitalize on today’s retail evolution and continue to thrive. His vision for the Company was built on foundational precepts including strengthening its balance sheet, creating a quality portfolio, establishing operational excellence with a laser focus on internal growth. He has been with PREIT since 1998 and has been a member of PREIT’s Board of Trustees since 2006. Mr. Coradino serves on Temple University’s Board of Trustees, is a member of the Executive Committee and Chairman of their Facilities Committee. He is a Trustee of the International Council of Shopping Centers (ICSC) and also serves on the Executive Committee of the Board of the Center City District and the Board of the Greater Philadelphia Chamber of Commerce. He is one of the founding members of PHL Cares, a business-led initiative investing in real solutions to street homelessness. Mr. Coradino has served on numerous charitable boards and was honored to receive the 2019 Leadership Award from Rutgers University and LEAP Academy University School, 2018 Breath of Life Award from the Cystic Fibrosis Foundation and 2016 Distinguished Citizen Award from the Boy Scouts of America Cradle of Liberty Council and to co-chair the Academy of Music 158th Anniversary Concert and Ball in 2015. In 2009 he was the recipient of the Heart of Philadelphia Award from the American Heart Association for his leadership and dedication to the community. Mr. Coradino has been profiled in numerous business publications and is a featured business leader in the book, “Wisdom at the Top” by Scott D. Rosen. He has appeared as a guest on national business shows on both CNBC and MSNBC. A Magna Cum Laude graduate from Temple University with a Bachelor of Arts in Urban Studies, Mr. Coradino also holds a Master’s Degree in Urban Planning from the University of Arizona.

Ashish R. Parikh has been the Chief Financial Officer of Hersha Hospitality Trust since 1999. Prior to joining Hersha, Mr. Parikh was in the Mergers and Acquisition Group for Fleet Financial Group where he developed valuable expertise in numerous forms of capital raising activities including leveraged buyouts, bank syndications and venture financing. Mr. Parikh was previously with Tyco International, Ltd. and practiced as a Certified Public Accountant with Ernst & Young LLP. Mr. Parikh received his master’s in business administration from The Stern School of Business at New York University (NYU) and a bachelor’s in business administration from the University of Massachusetts at Amherst. Mr. Parikh is currently a board member of the Center for Real Estate Finance at NYU’s Stern School, the Philadelphia Real Estate Council, The Committee of Seventy and a member of the Real Estate Capital Policy Advisory Committee of the Real Estate Roundtable.

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.

Mr. Korman is Co-CEO of Korman Communities, Inc. The Company is one of the largest owners and managers of multi-family properties in the region with a portfolio of 24 properties, and total market capitalization in excess of $2 Billion. The Company operates throughout major markets in the United States, and is based outside of Philadelphia, PA. The Company was the innovator of short-term furnished apartments in the United States over 50 years ago, and Mr. Korman is a member of the fourth generation to lead this company. The Company operates three brands, including its ARK and AVE properties which feature full service multifamily operations at prime, infill locations. The Company introduced its AKA brand in 2004, an upscale, urban high-rise concept with properties located in New York City, Philadelphia, PA, Washington, D.C., Beverly Hills, CA, and London. Mr. Korman has lead the acquisition, development and financing program of all new properties by the Company, including the entrance into new markets such as New York City, Beverly Hills and London. This growth has allowed Korman Communities to establish relationships with some of the largest and most respected financial and lending institutions in the country. Mr. Korman oversees all new business development, including debt and equity relationships, throughout the Company. Mr. Korman serves on the Board of Trustees of The Philadelphia Police Foundation, Germantown Academy and the Duke University Library Advisory Board. He is also a member of the JFRE Executive Committee, President’s Leadership Council at Jefferson, Zell/Laurie Real Estate Center of The Wharton School of the University of Pennsylvania, and is a licensed Real Estate Broker in Pennsylvania and New York. Mr. Korman received his B.A from Duke University in 1987, and his M.B.A. from The Wharton School of the University of Pennsylvania in 1992.