Panco Management
Pantzer Makes Another Local Apartment Acquisition
Hampton Hollow in Silver Spring is trading for $39.6 million.
SILVER SPRING, MD–New York City-based Pantzer Properties appears to be stepping up the pace of its local acquisitions. Its latest purchase is Hampton Hollow at 3408 Hampton Hollow Dr., in Silver Spring, which it acquired for $39.6 million, or $165,000 per unit, from LivCor.
It last traded in 2015 for $36.7 million.
This acquisition follows its recent $115 million deal for Chatsworth Park in Manassas, Va. Earlier this year it acquired The Residences at Moorefield Village, a 413-unit mid-to-high rise apartment building in Ashburn, Va., for $96 million or $232,446 per unit.
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.
Pantzer Properties is very familiar with the Washington DC area as it owns close to 4,000 units.
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