Freddie Mac Doles Out $88M for Purchase of Maryland Multifamily Complex
By Mack Burke July 9, 2018 5:46 pm
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Freddie Mac provided Pantzer Properties with $87.8 million in acquisition financing to purchase Rolling Hills, a 39-building apartment community in Germantown, Md., HFF announced.
HFF marketed the 468-unit property on behalf of the seller, Bethesda, Md.-based real estate investment firm Clark Enterprises, and it then secured the Freddie Mac debt financing for Pantzer, a New York-based multifamily owner and operator. Freddie Mac confirmed it provided the debt but would not elaborate on the terms of the financing. Officials at Pantzer did not immediately respond to a request for comment on the transaction.
Rolling Hills—now dubbed The Point at Germantown Station, as per Pantzer’s website—is located at 19228 Circle Gate Drive near Washington, D.C. train stations, and comprises 39 three-story properties over 40 acres, according to information from HFF.
Rents at The Point at Germantown Station range from $1,460 per month for two-bedroom apartments to $1,750 for three-bedroom units, according to information from Pantzer’s website.
The property features an outdoor pool, a fitness center, a recently renovated club room as well as several children’s playgrounds—called “tot lots”—multiple dog parks, soccer fields and picnic and grilling areas.
Pantzer’s purchase of Rolling Hills adds a second multifamily complex in Germantown to its portfolio, the first being a property called The Point at Germantown, located at 2 Observation Court.
Officials at Clark Enterprises did not immediately respond to request for comment.
