News

  • Posted April 26, 2017

Pantzer Properties Buys Ashburn MF For $96M

ASHBURN, VA–New York City-based Pantzer Properties has acquired The Residences at Moorefield Village, a 413-unit mid-to-high rise apartment building. Co-president Jason Pantzer confirmed the transaction to GlobeSt.com, but declined to discuss the deal’s terms. A source has told GlobeSt.com that the property traded for $96 million or $232,446 per unit and the seller is CBRE Global Investors.

The deal closed in mid-April.

Pantzer has rebranded the property, located 22555 Leanne Terr., as The Point at Ashburn.

“The property is well built, has walkable retail amenities and immediate highway access,” Pantzer says.

Pantzer Properties has approximately 3,500 units in the immediate area and more than 6,000 units in the region — many of which have been the result of one-off acquisitions like The Point at Ashburn.

In February Pantzer Properties closed on an off-market acquisition of a 200-unit property called Reston Glen. It paid $32 million for the 10-acre garden community, which it renamed Reston at Homestead, per the company’s brand for vintage properties.

Other local holdings include from Windsor At Fieldstone in Leesburg, Abingdon House in Arlington, Haverhill Apartments in Manassas and The Monterey in Rockville, Md., among many others.

CLICK HERE to read the article at globest.com

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