• Posted October 14, 2015

Real Estate Alert Mentions Pantzer Fund III

Apartment operator Pantzer Properties has begun marketing what would be its third and largest opportunity fund.

The New York Firm, led by Edward Pantzer since 1971, had a first close last month on $100 million of equity for its Panco Strategic Real Estate Fund 3. The equity target for the fund is $300 million. With financing for Fannie Mae, Freddie MAc and private lenders , it could have more than  $ 750 million of buying power.

Like its predecessors, it would target high-yield returns via acquisitions of apartment properties, mostly in the Northeast and Mid-Atlantic regions. The first vehicle in the series completed fundraising in 2008 with $100 million of equity and is fully invested, according to Preqin. Fund 2 held its final close in 2013 with $293 million of pledges, and is fully invested. Pantzer Properties manages some $2 billion via 24 apartment properties  totaling in 7882 units and encompassing 75,000 square feet of retail space. Edwards Pantzer runs the firm with his sons, Jason and Jordan Pantzer.

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