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CBG Expands Presence to Philadelphia Market

Company Establishes Eleventh Nationwide Office while Adding to Portfolio
July 17, 2017

WAYNE, Pa.—CBG Building Company signed the lease today for a new office in Wayne, Pennsylvania, extending the company's reach into the Philadelphia market. Wayne is centrally located to current and future developments in the Philadelphia suburbs, an area of increasing multifamily communities and vibrant retail and restaurants. Located along Philadelphia's Route 202 corridor, the office will open on July 31 and joins CBG's other locations in Virginia, Maryland, Georgia, Florida, California, Texas, and North Carolina.

CBG Expands Presence to Philadelphia Market Press Release Image

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"I am excited for what the Philadelphia market has in store for CBG," says Dave Brown, regional manager and Philadelphia native. "There has been a steady increase in multifamily projects in the area for the past five years, and we are thrilled to be a part of it."

CBG's first project in the area is luxury community Woodfield Valley Forge in King of Prussia, Pennsylvania. CBG's sixth project with owner Woodfield Investments, the multifamily community consists of 320 apartments across six stories with an eight-story precast parking garage.

Amenities at Valley Forge include a coffee bar, package concierge center, game room, lounge, business center, fitness facilities, dog wash, sky lounge, and pool in one of its three courtyards. Woodfield Valley Forge is scheduled for completion in May 2019.

"We look forward to pursuing Philadelphia's many opportunities," said Keith Anderson, president of CBG. "The area's rapid growth paired with our long history of multifamily and mixed-use construction makes the Philadelphia market a great fit."

The suburban Philadelphia market has seen a steady increase in multifamily projects over the past several years, as mixed-use developments bring vibrant retail and restaurant to nearby towns and boroughs. Several CBG clients from the D.C./Baltimore area are currently expanding into this suburban Philadelphia market.

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About CBG Building Company

Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 25 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 80,000 housing units since 1992. For more information, visit www.cbgbuildingcompany.com.

About Woodfield Investments

Woodfield Investments is a developer and operator of Class A multi-family and mixed-use assets in the Mid-Atlantic and Southeastern United States. With a depth of experience in acquisitions, development, operations, asset management, and capital markets, Woodfield creates lasting value in its investments, communities, and relationships. For more information, visit www.woodfieldinvestments.com.