PHILADELPHIA, PA — Stockton Real Estate Advisors, LLC (Stockton), and long-time University City developer U3 Ventures, LLC, announce their new partnership with Kasa, a pioneer in the hospitality industry known for its innovative approach to short-term rentals. This collaboration marks Kasa’s first property in the University City neighborhood of Philadelphia, further expanding its presence in the Northeast and enhancing the city’s vibrant hospitality offerings. Stockton and U3 Ventures ground lease the underlying land from the University of Pennsylvania, whose foresight and support for the project have been exceptional.
The property, Kasa The Niche University City, is situated in the heart of University City, a thriving neighborhood known for its dynamic blend of educational institutions, healthcare facilities, and cultural attractions. This partnership emphasizes Stockton and U3 Ventures’ commitment to diversifying their portfolio while reflecting Kasa’s dedication to providing unique, high-quality accommodations for travelers.
Kasa operates boutique hotels and multi-family buildings, offering thoughtfully designed, furnished rentals for any length of stay. With a portfolio spanning 85 properties across 40 cities, Kasa has hosted upwards of a million nights, ensuring a seamless, self-directed experience for guests.
This includes digital self-check-in and access to a virtual front desk for a customizable stay, contributing to high rankings on TripAdvisor in cities like Chicago, Pittsburgh, San
Francisco, Denver, and Austin.
“We are excited to partner with Kasa,” said James Paterno, Founder of Stockton Real Estate
Advisors, LLC. “Kasa’s innovative approach to hospitality aligns perfectly with our vision of
enhancing Philadelphia’s real estate landscape. We believe Kasa The Niche University City will meet the needs of travelers and contribute to the vibrant community of University City.”
U3 Ventures’ president, Tom Lussenhop, added, “We developed Niche during a period of much uncertainty in the real estate market. We knew, however, that there was a changing demand for housing. Attracting a national leader like Kasa reaffirms our early decisions.”
As Kasa The Niche University City welcomes its first guests, Stockton, U3 Ventures, and Kasa are committed to ensuring a successful launch that enhances the guest experience while supporting the needs of the University City housing market as well as the local economy.
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