Pantzer Properties Sells 468-unit Maryland Community

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The Germantown asset previously changed hands in 2018 for nearly $88 million. : Pantzer Properties has sold The Point at Germantown Station, a 468-unit community in Germantown, Md. JLL Capital Markets represented the seller. The new owner has rebranded the property as Seneca Place. According to Yardi Matrix, the asset previously changed hands for $87.8 million in 2018. Seneca Place totals 39 buildings spread across 40 acres at 19228 Circle Gate Drive. Developed in 1985, the property features two- and three-bedroom apartments, averaging 1,205 square feet. At the time of sale, the units were roughly 95 percent occupied.

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