HZ News

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HZ News

November 4, 2016

BLS Employment Situation: October 2016

Total nonfarm payroll employment rose by 161,000 in October, and the unemployment rate was little changed at 4.9%, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in healthcare, professional and business services, and financial activities.

Read more at BLS.gov

October 20, 2016

HZ Buys Vancouver Apartment Community for $37 Million

Hamilton Zanze (HZ), a San Francisco-based real estate investment company, has acquired the 240-unit Rock Creek Commons in Vancouver from Timberland Framing for $37 million. The transaction was finalized late last month.

Built in two phases from 2014 to 2016, Rock Creek is located at 11800 NE 124th Ave. in Orchards. Apartments range from one to three bedrooms (745 to 1,190 sq. ft.) with upscale finishes such as granite countertops, wood-style flooring and walk-in closets. The development also features a fitness center, playground, basketball court and clubhouse.

“Rock Creek is uniquely located to benefit from the Vancouver waterfront development and the strong market fundamentals in the Portland MSA,” said HZ Managing Director David Nelson in a press release.

Read more at Vancouver Business Journal

October 12, 2016

U.S. Economy Added 156,000 Jobs in September

Employers added 156,000 positions in September, the Labor Department reports, enough to accommodate new workers in the labor force and attract those who dropped out after the recession. The unemployment rate, which had been flat at 4.9% since June, increased slightly to 5.0%. The New York Times attributes this growth to more people drawn into the labor force and notes the current expansion shows little prospect of ending abruptly.

Read more at The New York Times

October 10, 2016

BLS Employment Situation: September 2016

Total nonfarm payroll employment increased by 156,000 in September, and the unemployment rate increased slightly from 4.9% to 5.0%, the U.S. Bureau of Labor Statistics reported October 7th. Employment gains occurred in professional & business services and healthcare.


Read more at BLS.gov

September 19, 2016

HZ Sells Arches at Hidden Creek Apartments for $55 million

Hamilton Zanze completed the $55 million sale of Arches at Hidden Creek, a 432-unit multifamily community located at 1586 W. Maggio Way in Chandler, AZ.

CBRE’s Phoenix office negotiated the transaction. The seller was a venture between Hamilton Zanze of San Francisco, CA and New York, NY-based New York Life Real Estate Investors, on behalf of institutional clients. The buyer was Seattle, WA-based Security Properties.

“Arches at Hidden Creek is located just one mile east of the Price Road Corridor, the Valley’s largest and most established high-tech employment corridor. This location positions the community to capitalize on strong demand for multifamily housing in the Chandler submarket,” said CBRE’s Sean Cunningham.

Built in 1985, Arches at Hidden Creek is a garden-style community featuring all two-story buildings and a desirable low-density site plan. Community amenities include four swimming pools, a resident clubhouse and a fitness center. The community recently received upgrades to the clubhouse, fitness center and other community areas. Individual residences feature well-appointed kitchens, spacious walk-in closets, washer/dryers, fireplaces, and private patios/balconies.

Read more at AZ Big Media

September 12, 2016

HZ Sells Multifamily Portfolio in Tucson

HZ sold a five-property multifamily portfolio in Tucson for an undisclosed sum. The communities contain 1,004 units totaling 686,314 square feet.

The transaction includes the 160-unit Hampton Park, the 254-unit San Mateo, the 152-unit Solano Springs, the 310-unit Lakeside Apartments and the 128-unit Highland Apartments. The latter property is situated in Sierra Vista, while the rest are located in Tucson.

The portfolio features an average occupancy rate of 94%. The properties were all constructed between 1973 and 1985.

This is buyer Monarch Investment & Management Group’s first purchase in Arizona. Cindy Cooke and Brad Cooke of Colliers International represented the seller, Hamilton Zanze, in this transaction.

Read more at REI Business Online or see more coverage of this transaction at AZ Big Media

September 9, 2016

HZ Expands San Antonio Footprint With The Niche Apartments

San Francisco real estate investment firm Hamilton Zanze bought a $15.4 million apartment complex on the Northeast Side as it continues to expand its footprint in San Antonio.

The firm bought the 5.5-acre, 150-unit Niche apartment complex at the corner of Harry Wurzbach Road and Lynn Batts Lane on Aug. 31, county property records show. It has purchased three other apartment complexes in San Antonio since entering the market last year.

The firm also is under contract to buy the Meridian Apartments, a 4.8-acre complex next to the Quarry Golf Club, said David Nelson, the firm’s managing director for acquisitions. The complex is currently owned by Chicago-based Cornerstone Real Estate Advisors and was assessed at $33.1 million this year, according to the Bexar Appraisal District.
Hamilton Zanze, which primarily invests in the West and Southwest United States, was attracted to San Antonio by its diverse economy that seems resistant to economic downturns, said Nelson.
“We love the market in terms of USAA being there,” as well as the presence of the medical district and the oil and gas industry, Nelson said. “We’re looking at it for a long-term market for us.”

Read more at the San Antonio Express-News


September 5, 2016

BLS Employment Situation: August 2016

Nonfarm payroll employment increased by 151,000 while the unemployment rate was flat at 4.9% in August, according to the U.S. Bureau of Labor Statistics. Employment continued to trend up in several service-providing industries, such as accommodation and food services, while employment in mining continued to decline.

Read more at BLS.gov

September 1, 2016

HZ Acquires Eugene Apartment Complex for $31 million

A group of California apartment investors has bought a large Eugene apartment complex for $31 million, the third time this year that investors from the Golden State have paid $30 million or more for a Eugene apartment building.

Ecco Apartments, a 192-unit complex off River Road and Hatton Avenue built by private developers using federal assistance to create government-subsized housing for lower-income families, sold last week. The majority buyer was San Francisco-based Hamilton Zanze.

“We really, really like the Eugene market,” said David Nelson, managing director at Hamilton Zanze. “We own a bunch of assets in the Portland metro area, but we were looking to Eugene to be a long-term play,” Nelson said. The firm plans to build a pool at Ecco Apartments, but doesn’t have any other changes in store, he said.

Read more at The Register-Guard


August 23, 2016

CBRE: “Young Americans Do Like the Suburbs”

A recent article from CBRE’s research team “busts” the popular narrative that millennial migration to cities is causing the decline of the American suburb.

“Census data disagree with the media on where millennials actually live and where they have been moving to,” writes Darin Mellott, Director, CBRE’s Research and Analysis.

The article reports only 30% of millennials live in urban areas. In 2014, more than half a million people between the ages of 25 and 29 moved from cities to the suburbs, while only 426,000 moved in the opposite direction. For younger millennials aged between 20 and 24, the flow was even more pronounced, with 721,000 moving out of cities to the suburbs and 554,000 leaving the suburbs to pursue city life.

Read more at CBREcapitalwatch.com