Pantzer Properties has raised $1.01 billion from the final close of its Panco Strategic Real Estate Fund VI — targeting multifamily property acquisitions on the East Coast.
According to the property manager, the amount exceeded its initial target, which was undisclosed. Pantzer attributed this to the strong support from both new and long-standing institutional investors.
The New York City-based firm did not state which specific East Coast markets it would target — but Fund IV marks a continuation of its past fund strategy. Currently, the company focuses on multifamily on the East Coast, managing 37 properties and over 10,000 units in the region. This includes states such as Pennsylvania, Virginia, Florida and Massachusetts, according to the company's portfolio.
Since starting the Strategic Real Estate Fund series, Pantzer said it has poured $7.5 billion into investments. This time, Pantzer plans to invest in high-quality multifamily assets.
"The strong demand for Fund VI reflects investor confidence in our proven strategy, the strength of our team, and the compelling opportunities within the multifamily sector. We are grateful for the support of our long-standing and new investors," company Co-CEOs Jason Pantzer and Jordan Pantzer, said in a joint statement.
"We look forward to deploying this capital with the same discipline and focus that has defined our platform for nearly two decades."
A recent report from Markerr expects some of the East Coast markets to rank among the leaders of multifamily rent growth through 2030. At the top of the list is Augusta, Georgia, at 5.7 percent, followed by Syracuse, New York, at 5.6 percent. Some other top performers are expected to be Albany, Rochester and Scranton — all in the Northeast.
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