The Broderick is ideally located in the Society Hill neighborhood of Philadelphia, near Washington Square Park and Independence National Historic Park.

Sentinel has recently acquired two high-rise apartment communities – The Broderick and The Republic – totaling 213 units and located in Center City Philadelphia. These acquisitions presented Sentinel with the opportunity to increase its investment in the rapidly expanding Philadelphia market. The transactions follow the recent acquisition of Madison Lansdale Station, a 186-unit mid-rise apartment community located in Lansdale, PA, approximately 32 miles northwest of Philadelphia’s City Center.

Both The Broderick and The Republic benefit from superior walkable and transit-oriented locations with significant rental rate upside potential through comprehensive unit upgrades and over 5,000 square feet of retail space within each. Moreover, their location in Center City offers proximity to top employers and an extraordinary range of dining, entertainment and cultural attractions.

"With The Broderick and The Republic, we found a compelling opportunity to acquire institutional-quality assets in two of Philadelphia’s most desirable neighborhoods, attracting a wide range of residents who want to live and work in the heart of the city," said Michael Streicker, President of Sentinel. "These locations have also seen significant post-pandemic recovery, with increasing in-migration, strong rent growth and a return to the urban vibrancy that remains a signature of the city’s culture and lifestyle."

Sentinel has been active in the Pennsylvania market throughout its 53-year history, having owned and operated 12 properties in the state. Currently, Sentinel owns and operates four properties in Philadelphia submarkets, in addition to these new acquisitions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

The Broderick

The Broderick occupies an irreplaceable location next to the nation’s most famed city parks and museums in historic Society Hill. Surrounded by Washington Square Park, Independence National Historical Park and the Delaware River, The Broderick benefits from its proximity to these landmarks, which also protect its unparalleled views and, combined with reduced tax incentives for new construction, limit new supply in the market. Additionally, The Broderick’s highly visible location within Society Hill draws a steady demographic base of mature, well-established professionals with strong employment profiles who are willing to pay a premium for luxury unit finishes in a concierge-serviced building.

The Broderick is a boutique community comprising 69 apartments averaging 854 square feet. Residences boast quartz countertops, stainless steel appliances, luxury wood-style flooring, spacious closets, in-unit washers and dryers and oversized French windows with breathtaking views. Amenities include a penthouse-level resident lounge, an entertaining kitchen and a complimentary coffee bar. The previous owner recently renovated 46 units and Sentinel has identified a substantial value-add opportunity to renovate the remaining 23 units to capture additional rent premiums.

The Republic

The Republic is a 144-unit community conveniently located in the heart of Rittenhouse Square, Center City Philadelphia’s most sought-after neighborhood. Boasting some of the highest per-square-foot rental rates in the city, Rittenhouse Square features luxury hotels, high-end retail, world-renowned restaurants, energetic nightlife and an extensive array of art and culture offerings. The property features a rooftop overlooking the scenic Rittenhouse Square Park and is within a ten-minute walk to over 46.8 million square feet of Class A office space and to many of Philadelphia’s largest employers both in Center City Philadelphia and in University City. Furthermore, residents are in proximity to various public transportation options along SEPTA’s Market-Frankford line via the 30th Street Station and the 19th Street Trolley Station.

Residences at The Republic average 695 square feet and feature nine-foot ceilings, quartz countertops, stainless steel appliances, luxury wood-style flooring, spacious closets, full-sized washer/dryers and oversized windows with stunning views. Previous ownership renovated 84 units and Sentinel has identified a significant value-add opportunity to renovate the remaining 60 units to drive rent growth while retaining a notable value compared to top-of-the-market properties in Center City.

The acquisitions received coverage in a number of publications:
Philadelphia Business Journal
Bisnow
Multifamily Executive

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"Apartment communities of this caliber are in high demand in both of these markets given the strong employment fundamentals and high barriers to entry for home ownership," said Michael Streicker, President of Sentinel. "What also made these investments so attractive is that there are no comparable apartment communities under development within three miles of either property, which we expect will support continued strong performance."

Sentinel has been active in the Atlanta and Philadelphia markets throughout its 53-year history, having owned and operated 46 multifamily properties in these areas, comprising over 12,000 units. Since its inception, Sentinel has acquired a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities in high growth markets throughout the US.

The Juncture Apartments

The Juncture Apartments is located in the desirable northern Atlanta suburb of Alpharetta within the Forsyth County submarket and enjoys proximity to a growing tech employment hub as well as attractive lifestyle, retail and restaurant destinations.

Completed in 2017, The Juncture Apartments is a 16-building community that features one- and two-bedroom apartments averaging 1,025 square feet. Each residence features stainless steel appliances, granite and quartz countertops, hardwood-style plank flooring, high ceilings with crown molding, walk-in closets, washers and dryers, and a private balcony or patio. Select units include additional storage, built-in wine racks, bookshelves, desks and display niches. Community amenities include a resort-style pool, grilling stations, an outdoor lounge with a fireplace and TV, an outdoor fire pit with entertaining space, a clubroom, and a fitness center, as well as a dog park, a coffee bar and a business center.

Forsyth County is one of Atlanta’s most affluent submarkets, and Alpharetta benefits from one of the strongest school systems in the region with ratings of 8 out of 10 on Greatschools.org. The Juncture is located just west of Highway 400, providing freeway access to the Perimeter/Sandy Springs and Downtown Atlanta employment centers, as well as I-85 and I-285. The property is also conveniently located near two premier mixed-use developments in Alpharetta – Avalon and Halcyon – which boast high-quality retail, restaurants, hospitality and office properties that are home to major employers such as Morgan Stanley, JLL and Alimera Sciences. Other major employers in the submarket include AT&T, ADP and Fiserv.

The Airdrie at Paoli Station

The Airdrie at Paoli Station is located in Upper Chester County, which is one of Philadelphia’s most affluent submarkets. Major employers in the area including Vanguard Group, Siemens Medical Solutions and Saint Gobain, all of which have headquarters within a five- to ten-minute drive of the property. Moreover, the area is home to West Chester University and benefits from one of the strongest school systems in Pennsylvania with ratings of 8 out of 10 on Greatschools.org. The Airdrie at Paoli Station is adjacent to the Paoli Amtrak/SEPTA Station and proximate to a variety of lifestyle, retail and restaurant destinations as well as major interstates including I-95, I-476 and I-76. These locational advantages support the property’s attractiveness to a range of potential renters.

The Airdrie at Paoli Station was constructed in 2020 and features one- and two-bedroom apartments averaging 978 square feet. Unit finishes include quartz countertops, stainless steel appliances, tile backsplashes, shaker-style cabinetry, kitchen islands, wood-style flooring in common and wet areas, ceramic tile baths, washers and dryers, walk-in closets, private balconies/patios, and keyless entry. Community amenities include a clubhouse with a clubroom, a coffee bar, a conference room, a media room, a 24-hour fitness center, a swimming pool and a pet station as well as on-site storage and package lockers.

The acquisitions received coverage in Multifamily Executive and The Philadelphia Business Journal:

Multifamily Executive
Philadelphia Business Journal

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“In Hill House at Chestnut Hill, we are acquiring a well-repositioned asset where we can leverage strategic capital improvements to create additional value,” said Michael Streicker, President of Sentinel. “The neighborhood’s high barriers to entry make it difficult to build – interestingly, only 700 units have been delivered within a three-mile radius of the property since 1991. With no new supply planned in the market for the foreseeable future, an average household income of $158,000, and a submarket vacancy rate of 4.2 percent, there are numerous factors that we expect will continue to make this property and location attractive.”

Located in the heart of historic Chestnut Hill – which is known as Philadelphia’s garden district and was named by Forbes as one of the top seven urban enclaves in the United States – Hill House at Chestnut Hill provides amenity-rich living with skyline views of the city across a range of floorplans, from studios to three-bedroom, three-bathroom apartments. Each unit features luxury finishes such as quartz countertops, stainless steel appliances, hardwood floors and spacious closets. Community amenities include a 24-hour doorman, a fitness center, a resort-style pool, an outdoor patio living space, and a resident lounge with complimentary Starbucks on tap.

The previous ownership has executed an extensive capital improvement program, which comprised upgrades to interior units and building systems, as well as improvements to common spaces including the lobby, leasing office, common hallways, outdoor amenities and landscaping. Sentinel has the opportunity to realize additional value creation by renovating the remaining interior units over time.

Over its 51-year history, Sentinel has acquired a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities throughout the region.

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