The University of Pennsylvania trustees own more than $3.3 billion in real estate in University City, three times more than any other educational institution in the region, writes Emily Scolnick for The Daily Pennsylvanian.

According to an analysis of city property records by The Daily Pennsylvanian, Penn’s real estate holdings in Philadelphia include numerous campus buildings, University of Pennsylvania Health System facilities, several standalone properties across the city, as well as the off-campus houses that are primarily leased to students.

Based on the Consolidated Statements of Financial Position that were presented in Penn’s fiscal year 2024 financial report, the net book value of the university’s facilities — minus properties within the Health System — amount to nearly $3.9 billion.

The discrepancy between the city’s and Penn’s records can be attributed to the time it takes for the city to update its records, explained Penn Executive Vice President Craig Carnaroli.

The city lists the Trustees of the University of Pennsylvania as owners of around 185 properties on Penn’s campus map, with the highest estimated values currently tied to Children’s Hospital of Philadelphia facilities, Domus Apartments, and Brandywine Realty Trust’s Philadelphia campus, among others.

Read more about the real estate Penn owns and the analysis detailing it in The Daily Pennsylvanian.

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Editor’s Note: This post was originally published on PHILADELPHIA Today in April 2025.