PHILADELPHIA, PA—Millennials value high quality rental properties more than home ownership, says Bradley J. Korman, co-chief executive officer, Korman Communities, and one of the panelists featured at ALM's RealShare PHILADELPHIA Conference February 10 at the historic Union League Club. Korman argues that multifamily property owners and developers should invest in upgrades to their properties to make them more attractive to Millennials and empty-nest renters who want luxury features and upscale amenities.

In comments provided exclusively to GlobeSt.com in advance of his appearance at the conference, Korman says “I'm a firm believer that the apartment market has changed as younger renters come into the workforce. Their American Dream doesn't include purchasing a home and staying there for the next 30 years. The worker in their 20's is looking to rent a nice apartment, with real amenities, high quality finishes, state of the art technology and they are willing to pay for it. These millenials value the ability to pick up and move without worrying about selling their house.”

Korman will join moderator Jonathan Grosser, partner, chair, Real Estate Practice Group
Stradley Ronon Stevens & Young, LLP; and panelists Arthur Pasquarella, executive vice president and chief operating officer of Equus Capital Partners, Ltd.; Chip Walters, chief investment officer, Keystone Property Group; and Robert W. Walters, executive managing director, CBRE on an Industry Leaders Panel scheduled to start at 8:05 a.m. The conference kicks off Tuesday, February 10 at 7:30 am at the Union League Club, 140 South Broad Street, Philadelphia.

“As owners, we need to make sure we are balancing the amenities and services that this group is looking for, with the needs and wants of the empty-nester renter who is also coming back to the market,” says Korman. “We believe that investing in your properties to meet the needs of these renters will be money well spent.”

More information on the RealShare PHILADELPHIA Conference is available at http://www.globest.com/events/realshare_event/philadelphia/RealShare-Philadelphia-2015-352566.html.

Instant Insights /

RealShare Panelist Korman Says Millennials Value Renting Over Buying

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