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.
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.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
