skip to Main Content
Newsletter

PREC’s quarterly Mid-Atlantic Newsletter features news stories, original content, member spotlights, and research from the Philadelphia Real Estate Council.

Click a date to the right to see that issue of the PREC Newsletter.

Member Spotlight:

Phillip R. Rosenfeldt

Phil Rosenfeldt, Partner and Institutional Real Estate Practice Group Leader for Blank Rome LLP, maintains a national practice counseling clients in all aspects of real estate development. He brings more than 25 years of experience representing clients in ground up development; sales and acquisitions; financing; leasing; and entity structuring and restructuring for many types of projects such as retail development, office and industrial, as well as residential and mixed-use projects.

First off, what attracted you to representing clients in the real estate industry?
To be honest, I came to Blank Rome in 1983 and they just put me in the real estate department. I liked it, so I stuck with it. I like being a transactional lawyer because we’re hired by our clients to reach a common goal: to close a deal.

What are some prominent issues you’re seeing your clients face today?
Everyone is skeptical about the future of the market and our economy. It’s been so good for so long that you wonder when it’s going to turn, how far the fall will be, and if you’ll be well-positioned when it does.

Any interesting projects under development in Philadelphia you find particularly interesting?
There are two I’m really watching. First is the 500 Walnut luxury development, not only because the architecture and design is extremely interesting for that site, but to be able to satisfy the high-end market in that area is pretty cool. It will make Philadelphia look really good if it can support a high-end residential like that. The second is the Gallery on Market Street. It’s a huge game-changer for the city.Where can we find you on the weekends?
In the Summer, you can usually find me on the golf course or hiking on the Appalachian Trail. Year-round, you can find me swimming four times a week or in the neighborhood walking my two Norwich Terriers.

Winter Meeting Recap

At our Winter meeting, we took a look into the future of commercial real estate, banking, tech, and society. Our speakers Ofo Ezeugwu, Co-Founder & CEO of WhoseYourLandlord, Jim Lee, Futurist and Founder of Strategic Foresight Investments, and Anita Shannon, Senior Community Manager at WeWork, provided great insight regarding the societal shifts pushing urbanization, password enabled electricity, universal display systems, co-working and co-living spaces, and potential industry disruption caused by rising interest rates coupled with slow economic growth.  

Research Findings

Sentiment Index Results

Winter 2016-2017 Sentiment Index

Each quarter, PREC conducts its Mid-Atlantic Real Estate Sentiment Survey to gain insight on recent activity and sentiment within the Mid-Atlantic real estate community. Our Index is released on a quarterly basis.
View Full Sentiment Index
Are You a Real Estate Developer or Investor?

Consider membership in the Mid-Atlantic premier real estate think tank.

For more information please email:
[email protected]

Member Spotlight:

Jacob Reiter

President of Real Estate Private Equity,
Verde Capital Corp.
Jacob Reiter is the President of Real Estate Private Equity at Verde Capital Corp., a real estate private equity, advisory and investment management firm which provides a vast array of capital products and services to strategic partners. Jacob has over 2 decades of experience in real estate finance and has previously held executive positions at companies such as Royal Bank of Scotland and Wells Fargo.

First off, how did you first get involved in real estate finance?
I grew up in a multi-generational real estate development family and spent my summers working in the business. I learned that I  loved the finance piece of the business, and have been in this space my entire career

What property types do you find most attractive?
Well located, low basis, high barriers to entry with multiple sustainable demand drivers.

Throughout your career, what has been the single most influential change you’ve seen in the real estate industry?
Several: the movement from largely a family based privately held business to the entrance of the public equity and debt markets coupled with securitizations and the emergence and expansion of multiple investment platforms including the fund business. Philadelphia is currently experiencing a construction boom. Is there still room for growth in certain areas in terms of commercial real estate investing? Where do you see these opportunities heading in the future? 
Philadelphia and the many cities across the country that we operate in still have existing opportunities. Even with the amount of capital flowing into the industry, bidding up asset pricing, given the span and flexibility of our delivery platform, encompassing multiple capital products, operating partners, asset classes and geographies has continued to result in tremendous deal flow.

Fall Meeting Recap

At our Fall Meeting, we explored the complex topic of gentrification and urbanization 2.0. Our speakers Larry Eichel, Director at Pew Charitable Trusts, Ori Feibush, President of OCF Realty, and Paul Levy, President & CEO of Center City District, provided dynamic rhetoric regarding political factors at play, what is drawing 25% of new residents to center city and how zoning in certain neighborhoods hinders its ability to flourish. 

Research Findings

Sentiment Index Results

Fall 2016 Sentiment Index

Each quater, PREC conducts its Mid-Atlantic Real Estate Sentiment Survey to gain insight on recent activity and sentiment within the Mid-Atlantic real estate community. Our Index is realeased on a quarterly basis.
View Full Sentiment Index
RealEstateJokers.com
Are You a Real Estate Developer or Investor?

Consider membership in the Mid-Atlantic premier real estate think tank.

For more information please email:
[email protected]

Copyright © 2016 Philadelphia Real Estate Council, All rights reserved.
Back To Top