Published by Institutional Real Estate, Inc., August 2022
Pantzer Properties, a fully integrated owner/operator of multifamily assets along the East Coast of the United States, has locked in more than $599 million for its latest fund, Panco Strategic Real Estate Fund V, according to a recent filing with the SEC.
New York-based firm bought Solera at City Centre, the company’s second multifamily acquisition in Palm Beach County in less than a year.
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Pantzer Properties closed its second multifamily deal in Palm Beach County in 11 months, buying a 136-unit apartment complex for $66.5 million.
An affiliate of the New York-based multifamily real estate investment firm acquired Solera at City Centre Apartments at 2100 PGA Boulevard 100 in Palm Beach Gardens, according to records. Pantzer, led by co-CEOs Jordan and Jason Pantzer, paid $488,971 per unit. The buyer obtained a $43.3 million mortgage from U.S. Bank.
This year’s winners are:
The Point at Rittenhouse Row in Philadelphia, PA | Gold | Leasing/Marketing & Web Engagement - Eastern Region-Before 1961, 80-95 Units
The Point at Glen Mills in Glenn Mills, PA | Gold | Overall Excellence - Eastern Region – Between 2000-2016, 115-230 Units
The Point at Phoenixville Riverworks in Phoenixville, PA | Gold | Overall Excellence & Maintenance Excellence – Eastern Region – Between 2000-2016, 275-400 Units, 326+ Units
The annual PAA Best of Awards recognize leading apartment communities in Pennsylvania within top competitive categories based on region, number of apartments and the year the property was built. Entries are received by communities located throughout the Commonwealth with the top properties receiving recognition for demonstrated excellence within the multifamily industry.
Pantzer Properties has acquired The Point at Palisades, a luxury apartment community in the Washington, D.C. suburb of Manassas Park, Va. The four-story apartment community on 10.6 acres offers one- and two-bedroom apartments. Situated at 8100 Palisades Circle in Old Town Manassas, the property is steps from the Virginia Railroad Express, which provides simple and quick access to Washington, D.C. It is also within a half-hour commute of many of the most concentrated job hubs in the region. For instance, residents are near major employers such as Lockheed Martin, Micron, Inova Health System, Amazon and the Federal Bureau of Investigation.
These employers are located in Innovation Technology Park in Prince William County, Va., situated 6.7 miles from The Point at Palisades. Manassas Park and Prince William County are among the area’s fastest growing life sciences and biotechnology submarkets. Three military bases are also located within an approximately 45-minute drive.