Freddie Mac Doles Out $88M for Purchase of Maryland Multifamily Complex

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Freddie Mac (FMCC) 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.

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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.