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J. Turner Research has ranked Panco Management #3 within Division III (10,000 – 19,999 units) in the 2020 Division ORA Power Ranking as published by Multifamily Executive.

The ORA Power Ranking measures the online reputation of more than 122,000 properties nationwide based on a compilation of ratings across various review sites and ILSs.  The national average ORA score is 65.34. Panco Management received an outstanding score of 80.19.  

“Our on-site teams work hard to provide great service on a daily basis. Being recognized as a top- rated company shows that we are truly making a difference within our communities and delivering on the promises we make to our residents.”, states Kathy Masterson, Senior VP of Operations at Panco. 

Further information on the 2020 ORA Power Ranking results can be found at Multifamily Executive.

Panco Strategic Real Estate Fund IV closes at $450 Million

NEW YORK, Feb. 12, 2020 /PRNewswire/ — Pantzer Properties, Inc (“Pantzer”) hereby announces the final closing of its fourth real estate fund, the Panco Strategic Real Estate Fund IV (“Fund IV”), occurred on January 1, 2020 with $450 million of capital commitments. Fund IV received substantial commitments from endowments, foundations, non-profits, family offices and high net worth individuals. Fund IV is approximately 50% larger than Pantzer’s prior fund.

Fund IV continues Pantzer’s established focus of pursuing strategic investments in tangible multifamily assets on the East Coast of the United States. Pantzer is one of the largest privately-owned multifamily owner/operators on the East Coast, focused on the affordable luxury segment of the market within the greater Boston, New Jersey, Philadelphia and Washington D.C. metro regions.

About Pantzer Properties, Inc.

Founded in 1971, Pantzer is a niche specialist within the multifamily space and has consistently pursued a sector specific and geography specific strategy throughout its 49-year history. Pantzer is headquartered in New York City with offices in Northern Virginia, Boston, Philadelphia and New Jersey. Further information is available at www.pantzerproperties.com.

Panco Management has been ranked #2 by ApartmentRatings and Satisfacts in their list of Top 100 Management Companies with 25 or More Communities for January 2020. This list is determined by four main variables including 1) Ratings from renters’ reviews and surveys; 2) Manager review response rate; 3) Volume of reviews and 4) Manager review response time.

“This is not only an amazing accomplishment but also a true testament to the diligent work of each of our property managers and their teams,” states Kathy Masterson, Senior VP of Operations at Panco. “It also illustrates our strong commitment as a company to providing quality service to our residents and supporting the success of each of our communities.”

For more information, visit the Satisfacts website.

About Pantzer Properties, Inc.

Founded in 1971, Pantzer Properties is a fully integrated owner / operator of multifamily assets in high-rise, midrise and garden style format along the North East and Mid-Atlantic corridor of the United States. Headquartered in New York City with offices in New Jersey, Philadelphia and Northern Virginia, Pantzer Properties’ portfolio extends from the Greater Boston to Washington D.C. metro area. Further information is available at https://www.pantzerproperties.com.

The trust paid $379.1 million to acquire five communities totaling 1,685 units in Northern Virginia, as part of a larger portfolio acquisition that will be funded through the sale of office and retail assets.

NYSE-listed Washington Real Estate Investment Trust (WashREIT) has now closed on its $379.1 million acquisition of a portfolio of five multifamily assets in Northern Virginia, totaling 1,685 units. The suburban properties represent the first tranche of a larger $461 million, 2,113-unit multifamily portfolio acquisition that the REIT has dubbed “Assembly.”

The second tranche of the value-add transaction will consist of two apartment communities totaling 428 units in Montgomery County, Md. WashREIT, which announced the signing of the portfolio deal in early April, said it plans to fund both tranches of the acquisition through the sale of select office and retail assets.

The seller was not disclosed, but Yardi Matrix data indicates that the previous owner of the five Northern Virginia assets was Pantzer Properties, which picked up the communities from Bainbridge Companies in a portfolio deal in March 2011.

The five properties include:

  • The Point at Alexandria: 205 Century Place, Alexandria (532 units)
  • The Point at Dulles: 13690 Legacy Circle, Herndon (328 units)
  • The Point at McNair Farms: 2511 Farmcrest Drive, Herndon (283 units)
  • The Point at Bull Run: 10519 Lariat Lane, Manassas (408 units)
  • The Point at Leesburg: 86 Heritage Way, N.E., Leesburg (134 units)

All the communities were built between 1986 and 1990, except for The Point at Dulles, which was completed in 2000. Each of the properties is more 94 percent occupied, and four of the five properties are more than 96 percent occupied, according to Yardi Matrix data.

REIT RAMPS UP MULTIFAMILY HOLDINGS

WashREIT owns more than 6.1 million square feet of commercial space and 5,953 multifamily apartment units across 53 properties. The entire Assembly deal boosts its multifamily unit count by 50 percent, as the real estate investment trust bets on the rise of suburban renting.

“We are expanding our multifamily portfolio to serve the fast-growing cohort of renters—aging millennials—who can’t afford home ownership or urban infill rents and are drawn to well-located, Class B suburban multifamily with its larger living spaces and excellent community services,” commented Paul McDermott, WashREIT president and CEO in a prepared statement upon the initial signing of the deal.

In January of last year, WashREIT agreed to purchase Arlington Tower, a 398,000-square-foot Class A office building in the Rosslyn submarket of Arlington, Va., from Tishman Speyer for around $250 million. The REIT also sold 2445 M St. NW, a 290,000-square-foot office property in Washington, D.C., to Beacon Capital Partners for $101.6 million in June, according to Yardi Matrix.

CBRE proudly recognizes Pantzer Properties as a Top 10 Multi-Family Buyer for the Mid-Atlantic Region for 2017 / 2018.

On December 19, 2018, Panco Strategic Real Estate Fund IV acquired The Point at Glen Mills (formerly known as Redstone at Concordville Town Centre). The Class A midrise property is located in Glen Mills, PA and consists of 230 units across 13.6 acres. The Property was built in 2016.

© 2020 Pantzer Properties, Inc.