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Construction continues on The Fashion District Philadelphia, a joint venture partnership between PREIT and Macerich, which announced more than two dozen new lease deals at the property.
Houston has a deep class-B and -C multifamily market, allowing Excelsa to build a portfolio of more than 1,500 units in the next several years, which it aspires to do as it creates economies of scale in many US markets.
The lower cost of living in Texas compared to other major markets, along with increased employment opportunities, creates a magnet for Millennials looking to grow careers and balance work with quality of life.