WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of Post Forest, (top right photo) a 364-unit multifamily community in Fairfax, Virginia.HFF directors Dave Nachison (middle left photo) and Alan Davis (bottom right photo) led the marketing efforts on behalf of the seller, Post Properties, Inc.
Pantzer Properties purchased Post Forest for $57.5 million free and clear and placed a new mortgage through Freddie Mac.
Post Forest is located at 12101 Pine Forest Circle adjacent to the Fairfax County Government Center in the Washington, D.C. suburb of Fairfax.
The 97% leased property has studio, one- and two-bedroom units averaging 835 square feet each. Residents have access to a community room, fitness center, swimming pool, business center, two tennis courts, laundry facility, car wash facility and an exercise trail.
“Post Forest is a community that blends core quality and location with the value-add potential to enhance rents through minor renovations, further increasing performance margins and ensuring the property’s continued position at the top of the market,” said Nachison.
Post Properties, Inc., founded more than 38 years ago, is a developer and operator of upscale multifamily communities throughout the United States.
The company is headquartered in Atlanta, Georgia and has operations in nine markets across the country.
Headquartered in New York City and Saddle Brook, New Jersey, Pantzer Properties is a fully integrated owner/operator of investment properties in the east coast of the United States.
Contacts:
David R. Nachison, HFF Director, (202) 533-2500, dnachison@hfflp.com
Alan M. Davis, HFF Director, (202) 533-2500, adavis@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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