Demonstrating confidence in the suburban multifamily market, GMH Capital Partners recently broke ground on a new, 225-unit project in Malvern, writes Natalie Kostelni for the Philadelphia Business Journal.

The Newtown Square-based developer is working on The Pendleton at Malvern in partnership with AWE Capital Management. The new building at 554 Lancaster Avenue will primarily be aimed at people with cars – although there are train stations in nearby Paoli and Malvern.

“This stretch of Lancaster Avenue in East Whiteland is a little quiet and sleepy and skipped over in favor of moving out to Exton and Downingtown,” said Stephen Behrle Jr., executive vice president at GMH.

It will consist of a mix of units, with rents ranging from $1,500 to $2,500, and is expected to be completed by fall next year.

“We think there is pent-up demand,” Behrle said. “There hasn’t been new product built in some time.”

Read more about The Pendleton at Malvern in the Philadelphia Business Journal here.

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