Pantzer Properties Buys Germantown Apartment For $88M
The New York-based firm is financing the property through Freddie Mac, whose debt was secured by HFF.
GERMANTOWN, MD–Pantzer Properties has picked up another Washington DC area apartment asset with its purchase of Rolling Hills, a 468-unit community, for $87.75 million.
HFF marketed the property on behalf of the seller, Clark Enterprises. HFF also secured debt financing for Pantzer through Freddie Mac. The securitized loan will be serviced by HFF, which is a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Rolling Hills is located at 19228 Circle Gate Dr., next to the Brunswick Line MARC train station and is just north of the Shady Grove Metro Station. Rolling Hills consists of 39 three-story buildings that are situated on 40 acres.
The HFF investment advisory team included Walter Coker, Brian Crivella and Stephen Conley. HFF’s debt placement team consisted of Jamie Leachman and Nicole Brickhouse.
A New York-based firm, Pantzer Properties has been a steady acquirer of local assets. Last year it acquired Hampton Hollow in Silver Spring, Md., for $39.6 million, The Residences at Moorefield Village in Ashburn, Va., for $96 million and Chatsworth Park in Manassas, Va., for $115 million to name just three.