Panther Properties Investment, LLC Acquires 3 Class "A" Apartment Communities Located In Two Southeastern Markets For $75 Million.
HUNTSVILLE, Ala. and MEMPHIS, Tenn., April 1, 2013 /PRNewswire/ -- Boston-based Panther Properties Investment, LLC, a private equity multifamily investment firm, has acquired a $75 million, three property multifamily portfolio totaling 740 units. The three class "A" communities consist of Huntsville Parc at the Arsenal (276 units) (formerly Springs at Huntsville) in Huntsville, Alabama, Villas at Grays Creek (238 units) and Carrington at Houston Levee (226 units) in Cordova, TN.
The acquisition marks Panther's first investment in Alabama and their second and third in Tennessee. "This portfolio investment provides our firm with an outstanding opportunity to invest in targeted submarkets throughout the Southeast with strong economic drivers, sustainable job growth and favorable demographics," said Panther Properties CFO/Partner, David R. Masse.
Panther Properties Investment, LLC is a private equity real estate firm that acquires, develops, and manages class "A" apartment communities in the Southeastern United States. Panther currently owns 2,600 luxury multifamily units that are managed exclusively through its subsidiary, Panther Properties Management, LLC. Panther's core focus is providing the highest level of retail-quality customer service. Panther Properties is aggressively pursuing both multifamily acquisitions and multifamily development opportunities throughout the Southeast.
Please visit Panther's website, www.pantherpi.com for contact information and additional company information.
Contact: Eric J. Wardrop
Director of Acquisitions
SOURCE Panther Properties Investment, LLC