Pantzer Pays $96M for Greater Boston Asset

Pantzer Properties has purchased The Point at Green District, a 234-unit luxury multifamily community in Marlborough, Mass., from Rockpoint and Post Road Residential. The asset traded for $95.5 million while being subject to a $62 million Freddie Mac acquisition loan, according to Yardi Matrix data.

The building encompasses one-, two- and three-bedroom floorplans ranging from 600 to 1,508 square feet, the same data provider shows. Out of the 234 units, 24 are affordable, according to the same source. Apartments feature in-home washers and dryers, quartz countertops and backsplashes, stainless steel appliances and oversized linen closets. Community amenities include EV charging stations, a rooftop dining area, a swimming pool, a fitness club, a podcast studio and a 2,000 square-foot coworking space.

Softer decline for Boston transactions

Previously known as The Burrow, the property is at 1000 Green District Blvd. and came online in 2023. It is less than 2 miles from Interstate 495, as well as more than 4 miles from downtown Marlborough. Apex Entertainment, a large dining and amusement venue providing go-kart, bowling, arcade, laser-tag and mini-golf games, is some 3 miles away.

Pantzer’s footprint currently encompasses more than 1,500 units in Greater Boston. It recently acquired another luxury property, The Point at Weymouth, for $94.6 million, Yardi Matrix data shows. More than half of Pantzer’s inventory consists of luxury units.

The metro’s total transaction volume reached $2.4 billion in 2023, down from 2022’s $3.4 billion, which was a softer decline than most major U.S. metros, as tighter lending requirements made investors weary, the same source shows.