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March 19, 2018

Hamilton Zanze and Cantor Fitzgerald Joint Venture Acquires Las Vegas Multifamily Property

LAS VEGAS, NV – March 19, 2018 – Hamilton Zanze (HZ), in a joint venture with Cantor Fitzgerald L.P., (“Cantor Fitzgerald”), has acquired the 426-unit Arrow Canyon apartment community in Las Vegas, Nevada. Located north of the city, the $60 million purchase marks HZ’s 11th investment in the Las Vegas metro area.

“This Las Vegas property fits our platform perfectly, as we are looking to acquire large assets at stabilized cap rates above 5% in markets throughout the United States. We are excited to continue investing significantly through this platform in the year ahead,” says David Nelson, Managing Director of Acquisitions for HZ.

The property has been rebranded Norterra Canyon Apartments and also transitioned to new management under Mission Rock Residential, an HZ property management affiliate.

The acquisition was financed with a $30 million, ten-year, fixed rate loan from Cantor Commercial Real Estate in collaboration with Berkeley Point Capital. In addition to the Cantor Fitzgerald equity investment, affiliates of Cantor brokered and financed the acquisition, while affiliates of Hamilton Zanze co-invested in the equity.

“This transaction represents the first joint acquisition for HZ and Cantor Fitzgerald, in realization of the breadth of our combined real estate capabilities,” said Ken Carpenter, Managing Director, Cantor Fitzgerald. Carpenter continued, “We continue to look for high quality, multifamily properties in growing markets and seek to acquire $1B of property in 2018.”

The property was built in 2007 on nearly 17 acres and comprises 458,294 net rentable square feet in 20 three-story buildings featuring one-, two-, and three-bedroom units. Community amenities include a complete fitness center, community playground, bocce ball court, covered parking, three-hole putting green, and a resort-style swimming pool and spa with poolside cabanas. Nellis Air Force Base is located less than five miles east of the property and is home to more Air Force squadrons than any other base nationwide. Additionally, I-15 and I-215 onramps are less than three miles from the property, providing easy access to fine dining, shopping, several schools, and entertainment venues.

HZ and Cantor Fitzgerald have an estimated $1.4 million ($3,286/unit) of capital improvements planned, including pool area enhancements, clubhouse renovation, and upgrades for select unit interiors.

Job growth in Las Vegas over the past several quarters has supported multifamily demand, rising rents, and low vacancy, and Las Vegas appears to have entered a period of steady growth. Northern Las Vegas in particular has experienced considerable industrial expansion, driven largely by e-commerce, with projects like Amazon’s new 800,000-square-foot warehouse in North Las Vegas dramatically adding to the area’s industrial footprint.

To learn more about the new Norterra Canyon Apartments please visit www.norterracanyonapts.com.



March 15, 2018

Hamilton Zanze Completes Sale of Brittany Lane Apartments

Tacoma, WA – March 15, 2018 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) is pleased to announce the sale of the Brittany Lane Apartments to Seattle-based Thayer Manca (TMR) for $35,070,000. The apartment community is located just outside of Tacoma, in the southwestern submarket of Lacey, Washington, and has been held by Hamilton Zanze since 2013.

Built in 1998, Brittany Lane is located at 1404 Brittany Lane, and offers 189 one- and two-bedroom units. Its 175,537 net rentable square feet were 94% occupied at the time of disposition.

“With Brittany Lane, Hamilton Zanze recognized an asset with significant upside. We were able to execute our business plan through strategic property improvements, including unit renovations, which created operational efficiencies to the property’s benefit,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “With low interest rates, low cap rates, and the property’s high-growth location, we believe this was an ideal time to sell. This was a great outcome for HZ and our investors.”

During its ownership, Hamilton Zanze added a playground amenity, executed minor clubhouse renovations, and modernized each of the individual residential units across the property.

Located in the Olympia metro area near the shores of beautiful Puget Sound, Lacey is a nature-lover’s paradise. Just a one-hour drive from downtown Seattle, the community offers access to employment opportunities and a great quality of life. High barriers to homeownership in the submarket, strong population growth, and the presence of the nearby University of Washington student population all support strong demand and healthy occupancy rates for the property in the years ahead.



February 5, 2018

Bay Area Investor Hamilton Zanze Sells Arizona Apartment Community

MESA, AZ – February 5, 2018 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of the Mesa Royale Apartments in the Woodridge Lakes district of Mesa, Arizona. The deal closed just before year end on December 28, 2017.

The community, which includes 116,940 net rentable square feet, sold for $21,750,0000, and was 98% occupied at the time of sale.

“Hamilton Zanze is traditionally a value-add operating company focused on conventional garden-style apartments, and Mesa Royale presented an alternative opportunity with its senior living component,” said Ashlee Cabeal, Hamilton Zanze’s Senior Director of Dispositions. “Acquisitions like this have allowed us to broaden our focus on different product types within the multifamily sector. We were able to execute our business plan and exceed our investors’ expectations, and we are very pleased with the outcome of this deal.”

Mesa Royale was built in 1985 at 1825 N Stapley Drive and comprises 152 rentable units. The residences range from studios to three-bedroom options and were renovated during Hamilton Zanze’s ownership. Mesa Royale is specifically home to an active-adult population that benefits from an on-site putting green and an adjacent full 18-hole golf course.

The housing market in Mesa, a submarket of Phoenix, has performed well in recent years, with a roughly 5% vacancy rate on rental offerings. The metro Phoenix economy has thrived in the years post-recession, adding 45,000 jobs year-over-year, according to recent reports. Job-seekers have been particularly drawn to numerous high-tech and telecommunications companies that have recently relocated to the area. Additionally, due to the warm climate in the winter season, Phoenix benefits greatly from seasonal tourism and recreation, especially in the golfing industry.

 



January 5, 2018

Multifamily Investor Hamilton Zanze Acquires Bella Springs Apartments in Colorado Springs

The Tuscan-styled property includes 311,114 net rentable square feet across 664 units in 21 three-floor residential buildings.

San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 364-unit Bella Springs Apartments apartment community in Colorado Springs.

The purchase marks the firm’s 13th acquisition in the Colorado Springs metro. With this latest acquisition, the firm now owns and operates five properties in the market, including Resort at University Park Apartment Homes, Broadmoor Ridge Apartment Homes, Mountain View Apartment Homes, The Knolls at Sweetgrass Apartment Homes, and now Bella Springs Apartments.

“Bella Springs presented a true value-add opportunity located in a favorable submarket,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “The asset offers a desirable mix of one-, two-, and three-bedroom units with direct access garages, which fits very well with the demographic and demands in the Colorado Springs market.”

Built in 2002, Bella Springs had a 96% occupancy rate at the time of purchase. The community is located at 1050 Milano Point in the desirable Northgate submarket of Colorado Springs, less than six miles from the U.S. Air Force Academy. The Tuscan-styled property includes 311,114 net rentable square feet across 21 three-floor residential buildings. The units range from 633 to 1,348 square feet with 9’ ceilings. Community amenities include a state-of-the-art fitness center, coffee lounge, clubhouse, hot tub and swimming pool with mountain views, barbecue grills, and an outdoor fire pit.

HZ will execute interior renovations on the remaining 82 non-renovated two- and three-bedroom units and enhance the property’s amenity package by improving the pool area and adding a dedicated dog park.

Additionally, management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

To learn more about Bella Springs Apartments, please visit http://bellaspringsapts.com/.

ABOUT HAMILTON ZANZE
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $3.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. For additional information, visit http://www.hamiltonzanze.com.



November 8, 2017

Bay Area Investor Hamilton Zanze Acquires Englewood’s Oxford Station Apartments

The company purchased the 238-unit Oxford Station residential community for $60 million.

Hamilton Zanze (HZ), a San Francisco-based real estate investment company, has acquired the 238-unit Oxford Station residential community in Englewood, Colorado for a purchase price of $60 Million.

The property consists of two large, 5-story buildings with a total of 182,991 net rentable square feet across a mix of studio, one, and two bedroom units. Unit occupancy was 96% at the time of the transaction. Designed for luxury, the community offers a state-of-the-art fitness center with virtual workout classes, a sky-level entertainment lounge; a social lounge; a zen lounge; a pet washing station and dog park; on-site secure storage; enclosed bicycle parking; a pool with hot tub and barbeque area; an outdoor gaming area; bike, ski, and board repair station; and structured parking, all against mountain backdrop.

“Oxford Station offered a unique opportunity to buy a phenomenally-built product with modern amenities at an attractive basis. The property is located adjacent to a light rail station, providing residents with convenient access to Downtown Denver and an ever-expanding rail network. CBRE, specifically David Potarf, exceeded our expectations and we look forward to working on our next deal together soon,” said David Nelson, the Managing Director of Acquisitions for Hamilton Zanze.

The property, located at 4101 S. Navajo Street, was originally opened just over one year ago in 2016, and developed by Littleton Capital Partners. Given its immediate adjacency to the popular RTD Southwest Light Rail line, the property has maintained high occupancy levels since opening. Management of the community has also been transitioned to Hamilton Zanze partner Mission Rock Residential, a Denver-based company.

This is one of seven properties now held by Hamilton Zanze across the Metro Denver region, and the first in Englewood. Additional HZ properties in Denver include Platte View Landing, The Vistas at Stony Creek Apartments, Belle Creek Apartment Homes, Highpointe Park Apartment Homes, The Diamond at Prospect Apartments, and Harvest Station.

ABOUT HAMILTON ZANZE
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $3.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 84 properties (18,425 units) across 10 states. For additional information, visit http://www.hamiltonzanze.com.



October 27, 2017

Bay Area Investor Hamilton Zanze Acquires San Antonio’s Quarry Townhomes

San Francisco-based real estate investment company, Hamilton Zanze, has acquired the 150-unit Quarry Townhomes in San Antonio.

Hamilton Zanze (HZ), a San Francisco-based real estate investment company, has acquired the 150-unit Quarry Townhomes in San Antonio, continuing a steady streak of investment in the fast-growing Texas market. The purchase was finalized at the end of September.

The property is located on 6.5 acres in the Alamo Heights submarket of San Antonio and consists of 175,872 net rentable square feet across a mix of one-, two- and three-bedroom units. Unit occupancy was 89% at the time of the transaction.

“Quarry Townhomes is a unique property within the Alamo Heights submarket of San Antonio, located within walking distance of an abundance of high-end retail and entertainment, including the Quarry Golf Club, Alamo Quarry Market, Whole Foods, and Trader Joe’s,” said David Nelson, Managing Director of Acquisitions for Hamilton Zanze. “The asset offers large, townhome-style units with direct access garages, giving this multifamily asset a single-family home feel.”

Hamilton Zanze plans to undertake improvements at the property including interior unit remodels, clubhouse and courtyard renovations, and exterior aesthetic updates. Management of the community has also been transitioned to longtime Hamilton Zanze partner Mission Rock Residential.

This is the sixth property now held by the firm in San Antonio, all acquired in the last two years. The other HZ properties in the market include The Niche Apartments, Meridian Apartments, The Enclave at 1550 Apartments, Salado Springs Apartments, and BLVD at Medical Center Apartments.

To learn more about the Quarry Townhomes please visit http://www.quarrytownhomes.com.

ABOUT HAMILTON ZANZE
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $2.8 billion in multifamily assets. The company currently owns and operates 85 properties (18,065 units) across 10 states. For additional information, visit http://www.hamiltonzanze.com.



February 23, 2017

Hamilton Zanze Reaches Milestone $2.8 Billion in Acquisitions

2016 Marks Firm’s 15th Anniversary

SAN FRANCISCO, Feb. 22, 2017 /PRNewswire/ — San Francisco-based private real estate investment firm Hamilton Zanze (HZ) marked a record year in 2016, reaching over $500 million in acquisitions, the firm’s best year yet. The milestone comes as HZ celebrates its 15th year in business and over $2.8 billion in acquisitions since its inception. Hamilton Zanze owns and manages 85 multifamily properties in 10 states including Arizona, Colorado, Georgia, Idaho, New Mexico, Nevada, Oregon, Texas and Washington.

Last year also marked Hamilton Zanze’s expanding footprint outside of the Southwest, with the purchase of a three-property investment in the Atlanta area, the firm’s first investment in the state of Georgia. The purchase signifies a continued confidence in multifamily investments as well as the firm’s focus on investing in communities where the economy is strong, employment is growing, and apartment demand is steadily increasing.

“We are committed to the long-term growth of our businesses on an incremental approach, which is how we have gotten where we are with HZ,” said Tony Zanze, COO and co-founder. “By expanding into new markets, we are setting the stage for a very long-term horizon in which we continue to seek and make investments in properties we understand and believe in, and provide for our investors’ financial security.”

Multifamily investments remain a solid option for investors as U.S. homeownership rates continue to fall. Per the U.S. Census Bureau, the percentage of Americans who own their homes declined to 63.7% in the fourth quarter, well below the record low of 65%. Millennials are deferring home-buying and starting families; instead, more are opting to remain in the family home or rent, citing affordability, student debt and convenience. And, as 75 million Baby Boomers are set to retire, the attractiveness of multifamily rental communities, including 55+ retirement communities, will continue to rise.

“Hamilton Zanze is positioned and structured for long-term growth and prosperity,” said Mark Hamilton, CEO and co-founder. “We are always looking ahead at new programs and anticipating the future as different sources of capital come and go. We want to make sure our growth is thoughtful with higher quality and larger properties, offering more stable performance going forward.”

ABOUT HAMILTON ZANZE
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $2.8 billion in multifamily assets primarily in the Western and Southwestern U.S. The company currently owns and operates 85 properties (18,003 units) across 10 states. For additional information, visit www.hamiltonzanze.com.



February 21, 2017

Hamilton Zanze Buys Atlanta Apartments for $109m, its First East Coast Acquisition

A San Francisco value-add apartment real estate investment firm has made its first East Coast investment just a few miles from SunTrust Park, the new Atlanta Braves stadium.

Hamilton Zanze has purchased a portfolio of three properties in Smyrna: The Peak at Vinings Mountain, The Views at Vinings Mountain and Lakeside at Vinings Mountain, a 680-unit collection of circa 1980s apartments, collectively called The Residences at Vinings Mountain. The properties traded from Aimco for $109M, according to Databank. Colliers International’s Will Mathews brokered the sale on behalf of Aimco.

Atlanta’s pro-business climate and educated workforce draw most outside investors to the city, and HZ managing director David Nelson said they were also big reasons why the California firm came to Atlanta. But right behind those factors were the new stadium and the infrastructure investment in Smyrna, “spending more now to prepare for tomorrow,” Nelson said. According to the Cumberland CID, some $600M in infrastructure improvements will have occurred by the end of 2018 during the past 30 years, many in preparation for the Atlanta Braves.

Read more at BisNow.com or additional coverage at REIBusiness.com



December 15, 2016

Latest Apartment Sale Shows Continued Strength in Big Portland Submarket

 

It’s not just Portland that’s been enjoying a strong multifamily market these past few years.

The Rose City’s neighbor to the north, Vancouver, has seen some new heat as well, with rents rising and interest from outside investors bubbling up.

One of the latest signs of Vancouver’s growing popularity — the $37 million sale of Rock Creek Commons, a 240-unit complex at 11800 N.E. 124th Ave. earlier this fall. The complex went to Hamilton Zanze, a California real estate investment firm that has had a busy year of buying and selling properties, including a complex it bought in Eugene for $31 million in September.

Read more at the Portland Business Journal



November 28, 2016

HZ Buys San Antonio Apartment Complex, Adding to Trend

Real estate firms have bought three more apartment complexes in San Antonio, joining a recent rush of investors attracted to the area’s growing economy and relatively stable housing market.

San Francisco firm Hamilton Zanze bought the luxury Meridian apartment complex next to Quarry Golf Club last week from national firm Cornerstone Real Estate Advisers, property records show. The purchase price was undisclosed, but the 4.8-acre complex was assessed at $33.1 million this year, according to the Bexar Appraisal District.

At least a dozen major apartment complexes in San Antonio have changed hands in the last four months. Investors have said in interviews that they are drawn to the area’s growing population and robust economy based on stable industries such as the military, health care and education.

Read more at the San Antonio Express-News