July 27, 2017 Comments Off on NY Investor Bolsters N VA Portfolio with $115M Buy Views: 703 National News, Southeast, Virginia

NY Investor Bolsters N VA Portfolio with $115M Buy

Chatsworth Park, a 576-unit apartment community in Manassas, VA, was acquired by Panco Strategic Real Estate Fund III, an affiliate of New York-based Pantzer Properties, for $115 million. Located at at 8100 Chatsworth Dr., the property will be renamed The Point at Manassas and added to the firm’s local portfolio of 25 multifamily properties located throughout Northern Virginia and Maryland.

Transwestern’s Dean Sigmon and Robin Williams represented both the buyer and the unnamed seller.

“There has been extremely high demand for value-add investment opportunities like Chatsworth over the past year,” said Sigmon. “There aren’t enough of these assets on the market to satisfy investor demand, so they are receiving significant attention from domestic and foreign capital.”

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