Pantzer buys 393-unit apartment building in Miramar for $161M

Pantzer Properties bought a 393-unit apartment building in Miramar for $161 million.  The purchase comes on the heels of New York-based Pantzer closing its $1 billion Panco Strategic Real Estate Fund VI that will target multifamily properties on the East Coast.  Boston-based Rockpoint and Coconut Grove-based Related Group sold the eight-story building at 1-3 Main Street to Pantzer, according to records. The buyer borrowed a $102.4 million Fannie Mae loan for the purchase.  The purchase price breaks down to $409,700 per apartment.  Related, led by the Pérez family, and Rockpoint, led by Bill Walton and Keith Gelb, completed development of […]This article originally appeared on The Real Deal. Click here to read the full story.