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...
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