Friday, February 3, 2017

Pantzer Properties Closes Third Fund Targeting East Coast Apartments

Pantzer Properties Inc. held final closing of its third real estate fund, the Panco Strategic Real Estate Fund III, with $305 million of capital commitments, exceeding its $300 million fundraising target.

Commitments to Fund III and affiliated entities total $357 million when combined with $52 million of Fund III co-investment capital raised to date. A significant number of investors in prior funds made new commitments, while Pantzer attracted many new investors as well.

Capital commitments were sourced from institutional investors, family offices and high net worth individuals.

Fund III continues the firm's established focus of investing primarily in the multifamily sector on the East Coast.

In the past year, New York City-based Pantzer Properties has acquired two Maryland apartment properties for a $145 million; two in Pennsylvania for $117 million; and one in Virginia for $69.25 million. The buys total 1,646 units representing a purchase price of $189,337/unit.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.