Maleda Berhane
Principal & CEO
Maleda Berhane is the CEO, Principal, and co-founder of AR Spruce LLC, a Philadelphia-based real estate services and development company. She has extensive experience in real estate development and redevelopment, specializing in feasibility, site selection, entitlements, design and construction management. Maleda leads AR Spruce’s projects, overseeing community, client, and vendor relations.
Formed in 2020 by merging Spruce Real Estate Partners and AthenianRazak, AR Spruce combines the strengths of both companies. Since its formation, the company has grown, securing major projects such as Swarthmore College Faculty Housing, Philadelphia Gas Works North Operations Center, Vare Recreation Center, and a mixed-use LIHTC/NMTC project for Impact Services.
Before merging, Spruce REP and AthenianRazak collaborated on projects such as managing the vacant Hahnemann Hospital campus, restoring the steeple of Christ Church, managing State Park houses for PA DCNR, and serving as Receiver on multi-family properties.
Previously, Maleda founded Spruce Real Estate Partners in 2013, where she developed a 7-story structural panel building, the adaptive reuse and redevelopment of a historic Bell Telephone Co. building, and managed projects like CB2’s Philadelphia build-out, the Salem Baptist Church expansion, and upgrades at the African American Museum in Philadelphia. She also worked on charter school campuses for Global Leadership Academy and Keystone Academy.
Earlier in her career, Maleda held roles as Director of Project Management at Concordis Real Estate Advisors, Development Manager at Aegis Property Group, and Project Engineer at Skanska USA Building, Inc.
Selected Affiliations:
- Philadelphia Visitors Center, Board Member
- ULI Philadelphia, Board Member
- African American Real Estate Professionals, Board Member
- NAIOP Philadelphia Chapter, Board Member
- The Welcoming Center, Advisory Board Member
- CREW Philadelphia (Commercial Real Estate Women), Member
Education:
- Drexel University, BS, Architectural Engineering
- Drexel University, BS, Civil Engineering
- Temple University, Real Estate Institute
Accomplishments + Awards:
- ULI Philadelphia, Emerging Leader of Excellence Award (2025)
- Philadelphia Business Journal, Women of Influence (2024)
- Goldman Sachs 10,000 Small Businesses, Alumni (2023)
- VestedIn, Earl Boyd Small Business Impact Award (2023)
- Philadelphia Business Journal, Diversity in Business Award (2022)
- Bisnow, Philadelphia Power Women Leading Real Estate Award (2022)