New York-based Pantzer Properties has picked up a 200 unit apartment community for $32 million in Reston, VA. Changing hands for $160,000 per unit, the property is located at 2265 Laurel Glade Court. The community was built in 1974 and features one-, two- and three-bedroom units offering a wide variety of amenities such including a fitness center, playground and a business center. According to Yardi Matrix data, the community is partially affordable and was 95 percent occupied as of January 2017. Berkadia Senior Managing Director Scott Melnick and Managing Director David Oakley led the sale.
“Reston Glen is well positioned in one of the most dynamic submarkets of Washington, D.C,” Melnick said in a statement. “Pantzer Properties will be able to take advantage of economies by adding this property to its already significant roster of Northern Virginia holdings.”
