Woburn, MA - Panther Properties announced that it has closed on the sale of Avalon Apartments in Pensacola, Florida. Panther sold the 276 unit Class "A" apartment community for $27.95 million. Panther Properties acquired Avalon Apartments in the summer of 2010 through the purchase of a non-performing loan from Bank of America at a 30% discount to construction cost. At the time of purchase, Avalon Apartments was...
Woburn, MA - Panther Properties announced that it has closed on the sale of Venue Apartments in Orlando, Florida. Panther sold the 306 unit Class "A" apartment community for $43.3 million. Panther Properties acquired Venue Apartments in January 2010 in an FDIC auction. Venue's ownership history left the high-quality community under managed for several years. Panther viewed Venue as an opportunity to enter the attractive Orlando market...
Boston-based Panther Properties, a private equity multifamily investment firm, has acquired Fern Parc (formerly Renaissance at Memorial) for $9.5 million ($27,860/unit). Fern Parc is a 341-unit Class "C" multifamily located at 4100 South Memorial Parkway, Huntsville, Alabama 35802. On January 2, 2014, Panther began construction on a $6.1 million ($17,836/unit) renovation of Fern Parc with the objective of upgrading the asset from a Class "C" community to the submarket-leading Class "B" community.
Woburn, MA - Panther Properties announced that it has completed the sale of the Victoria Manor Apartment community in Lakeland, Florida. Panther sold the 23.3-acre 352-unit Class "A" luxury community for $37.7 million. Panther acquired Victoria Manor Apartments in late 2010. During the 3 1/2 year ownership period, Panther transferred property management from a third-party manager to Panther's own newly-formed management company. Full-control over the property allowed Panther to systematically implement operational improvements.
PANTHER PROPERTIES ACQUIRES 3 CLASS A APARTMENT COMMUNITIES LOCATED IN TWO SOUTHEASTERN MARKETS FOR $75 MILLION
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.
PANTHER PROPERTIES MANAGEMENT LLC BUYS EFFINGHAM PARC APARTMENTS (FORMERLY SPRINGS AT EFFINGHAM) IN RINCON, GEORGIA FOR $30,800,000.
Panther Properties Management, LLC, a private equity Class "A" multifamily investor and developer, announced that they have purchased Effingham Parc Apartments (formerly known as Springs at Effingham), a 352 unit Class "A" luxury apartment community in Rincon, Georgia. The purchase marks Panther's sixth acquisition since 2010; it is their second acquisition in Georgia, the first being Mandalay Villas Apartments in McDonough, Georgia, acquired in the spring of 2011.
Panther Properties Management, LLC, a private equity Class "A" multifamily investor and developer, announced today along with development partner Integra Land Company that construction has commenced on Integra Creek Apartments, a Class "A" apartment community. Integra Creek, a $27.5 million project located on 18.5 acres in Murfreesboro, Tennessee on the Manson Pike and adjacent to Interstate 24, will include 264 units in nine, 3 story buildings consisting of one, two, and three bedroom floor plans, and several carriage units.
Boston, MA and McDonough, GA - Panther Properties Management LLC is pleased to announce its newest acquisition, Mandalay Villas Apartments, in McDonough, GA. The property consists of 300 units situated on 30 acres and was purchased for $28,800,000 from the original developer, Davis Development. Cushman Wakefield's Apartment Brokerage Services represented the seller.
The latest in a string of Class "A" multifamily buys, Boston-based Panther Properties has acquired Lakeland's Victoria Manor Apartments for $36.5 million. Built in 2006 and offering 352 units, the property sits on 23.31 acres between Tampa and Orlando.
The Federal Deposit Insurance Corp. (FDIC) has completed more than $1 billion in CRE property sales this year ($979 million in commercial properties and $81.2 million in multifamily), according to its latest release of data. The data is through October. Through the same time period last year, the FDIC had completed $238 billion in commercial property sales and $60.5 million in multifamily sales.
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