Matt Pestronk | Co-Founder & President, Post Brothers
Matt Pestronk, Co-Founder and President of Post Brothers, details how he and his brother Mike became leaders in Philadelphia multifamily and are now taking their expertise in adaptive reuse of office buildings and ground up development to Washington, DC and other markets.
When they founded their Philadelphia-based company just before the great financial crisis of 2007-2008, they had no idea what kind of challenges they would face on their entrepreneurial journey. Through thick and thin, Matt details how they bootstrapped their time and capital to become a major player in the Philadelphia multifamily business, in ground-up, value-add, and adaptive reuse.
Adaptive reuse is a core component of their business, taking abandoned or obsolete office buildings and flipping them into successful, residential-focused, mixed-use properties. Matt discusses their move into the Washington, DC market, including their recent acquisition of two large office buildings, which they will convert to multifamily. Adaptive reuse of office space has become a core topic in the industry and among urban policy makers; Matt talks about how they’ve made that work successfully in Philadelphia and their plans for the DC buildings.
The Post Brothers’ story of bootstrapping, resilience, and pushing the envelope to build a several billion dollar AUM real estate company started in the City of Brotherly Love is a fitting listen on this July 4th weekend.