Posted By: Admin DreamingCode

HUNTSVILLE, ALABAMA AND MEMPHIS, TENNESSEE – Boston-based Panther Properties Management, LLC, a private equity multifamily investment firm, has acquired a $75 million, three property multifamily portfolio totaling 740 units. The three Class "A" communities consist of Huntsville Parc at the Arsenal (276 units) (formerly Springs at Huntsville) in Huntsville, Alabama, Villas at Grays Creek (238 units) and Carrington at Houston Levee (226 units) in Cordova, TN.

The acquisition marks Panther's first investment in Alabama and their second and third in Tennessee. "This portfolio investment provides our firm with an outstanding opportunity to invest in targeted submarkets throughout the Southeast with strong economic drivers, sustainable job growth and favorable demographics", said Panther Properties CFO/Partner, David R. Masse.