Mada Partners > Blog > Newsletter
11

Can you believe it, it’s been just over a year since the pandemic or covid-19 shut the world  down, even affecting new construction development for Philadelphia. At the beginning of this whole thing not knowing what was going to happen to the economy, the real estate market and now that we’ve had a full year behind us we’ve been able to understand and navigate it better.

Here what’s new with us are pleased to announce that we have created and Investment fund called Mada Capital and you can now invest with us using your registered funds like RRSP, RESP, TFSA, and RRIF and non registered found  with regular distributions with an average annual return of 10% please to see our OM for more details.

Here is the latest updates from for the first quarter of 2021 from Marcus & Millchap the Multifamily landscape has been very resilient for the Philadelphia markets.

VACANCY: RENT: Completions slated for 2021 fall below the total from last year but align closely with the number of deliveries recorded in 2016, 2017, and 2019. The most upcoming arrivals will be in Center City, followed by Chester and Burlington counties. A moderated supply pipeline paired with net absorption levels that have recovered since an early pandemic slowdown will push the metro-wide vacancy rate down to 3.0 percent this year. Availability has not been as tight since the second half of 2000.

RENT: Nationally low vacancy will help local rents continue to grow at a steady pace this year. The market average effective rate will climb to $1,452 per month in 2021. The metro average has not declined on an annual basis since 2009.

We would not be lying if we said the pandemic was not hard on us but for one thing this gave us the opportunity to look at our systems and improve a few things that needed to be changed. We have been extremely Fortunate to be well surrounded by great people that are helping us be an even more successful company. Looking forward to sharing with you some fun new projects.

 

Mathieu Laquerre 

Principle 

MADA Partners and Mada Capital 

 

 

Leave a Reply