Pantzer Properties is bullish on South Florida multifamily, acquiring a Doral rental community less than four months after buying a West Palm Beach apartment complex.
In what is now the second largest multifamily deal in the tri-county region this year, New York-based Pantzer paid $139.2 million for AMLI Doral, a 6.4-acre garden-style complex at 11481 Northwest 41st Street in Doral, records show.
JLL Real Estate Capital provided Pantzer with an $87.6 million mortgage that was arranged by Jamie Leachman and Amit Kakar of JLL, a press release states. A JLL team led by Maurice Habif and Simon Banke represented the seller, an affiliate of Atlanta-based AMLI.
In 2015, AMLI paid $103.5 million for the nine-building, 352-unit development that was completed two years earlier, records show. The original developer is CC Homes, a partnership between Armando Codina and Jim Carr.
Pantzer, led by co-CEOs Jordan and Jason Pantzer, is renaming AMLI Doral as The Point At Lakeside, according to the firm’s website. Pantzer’s Doral purchase is roughly $500,000 under the current largest South Florida multifamily deal of the year. Last month, Los Angeles-based Ares Management paid $139.7 million for Ceru, an eight-story project with 284 apartments in Boca Raton.
Pantzer, which owns more than 10,000 apartments on the east coast, has scooped up a handful of South Florida multifamily projects in the last two years. In March, the firm acquired a 245-unit apartment complex in West Palm Beach for $83.5 million that was renamed The Point at Palm Beach Grove.
In 2022, within a one-month span, Pantzer paid a combined $145 million for The District Flats, a 178-unit complex in West Palm Beach, and Solera at City Centre Apartments, a 136-unit community in Palm Beach Gardens. The same year, Pantzer acquired a six-story building with 237 apartments in Miami’s Little Havana for $97.5 million.