Podcast: Discussing Green Initiatives & 1031 Exchanges with The Real Estate CPA Podcast
Our CEO Mark Hamilton and CFO Ashlee Cabeal had a great time discussing our approach to multifamily value-add investing, integrating property management, reducing expenses through green initiatives, and performing 1031 exchanges.
Check out the full episode below and visit The Real Estate CPA for notes from the show and more episodes of the podcast.
Hamilton Zanze’s Statement Regarding Racial Inequality and Community Unrest
Recent weeks have been some of the most challenging in our history. They have culminated in America bearing witness to the murder of George Floyd and have been followed by nationwide protests for justice and equality. We deeply respect and support those across America who are protesting peacefully for critical change.
As Americans, we all must take responsibility for the uncomfortable and unacceptable truth that we, as a nation, have not consistently stood up for the basic human rights of many of our fellow citizens.
We at Hamilton Zanze are committed to providing housing and building community regardless of religion, gender, sexual orientation, age, nationality, gender identity, citizenship, color, or race, and believe that there should be one American system of justice that applies equally to all of us. We are also committed to listening and hearing. We must listen to the voices of our teams, our partners, those among us and in our communities who are the most vulnerable and disenfranchised, and those struggling with the most grief. We will listen not only to convert what we learn into progress but also out of respect for those whose voices have been silenced.
Silence is not an option. While the past cannot be changed, thoughts, prayers, sympathies, and condolences are not enough. We are not without flaws, but we will not allow our human frailties to hold back progress. We will work to hold our elected officials accountable, and we will remain accountable to each other and each of you in providing housing and building communities that promote equality and reflect the diversity of our nation and the best of its ideals.
Hamilton Zanze Acquires St. Louis Community
Hamilton Zanze’s acquisition of Steelyard & IceHouse Apartments was recently featured in Multi-Housing News:
A loft-style apartment community situated in the up-and-coming Soulard nook of downtown St. Louis has been acquired by real estate investment firm Hamilton Zanze.
The Class A, mid-rise, 170-unit Steelyard & Icehouse Apartments features two components. In 2016, developer LuxLiving renovated a 1924 ice warehouse called the Icehouse, creating 42 loft residences with open-concept floor plans. Subsequently, The Steelyard, a five-story 128-unit apartment community with an adjacent structured parking garage, was built on a nearby parcel that formerly housed several industrial structures and warehouses. That apartment community opened last year.
Read the full article at Multi-Housing News, and see more coverage at Baker City Herald, and RE Journals.
Hamilton Zanze Acquires Apartment Community in St. Louis
ST. LOUIS – April 20, 2020 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) acquired the 170-unit Steelyard & IceHouse Apartments (Steelyard) in St. Louis, MO on April 10th. The purchase marks the firm’s fifth acquisition of the year, second property in St. Louis, and first self-sponsored Delaware Statutory Trust (DST).
Steelyard is a Class A, mid-rise community located in Downtown St. Louis. The developer, LuxLiving, first renovated a 1924 warehouse (The IceHouse) in 2016 to create 42 desirable lofts with open-concept floorplans and state-of-the-art amenities. An additional 128 units (The Steelyard) were built on a neighboring lot formerly home to several small warehouses and industrial structures. The community offers a mix of luxury studios, one-, two-, and three-bedroom units averaging 784 square feet in size with desirable amenities including smart home technology.
“Steelyard & IceHouse provided us an attractive opportunity to buy a new property in the up-and-coming neighborhood of Soulard,” said David Nelson, Hamilton Zanze’s managing director of acquisitions. “The property features a robust amenity package, prime location near Downtown St. Louis, and offers residents the quality of life provided by the city’s energetic urban core. As this is our second acquisition in the metro within the last six months, we are excited about our continued growth in the region.”
High-end community amenities include a saltwater swimming pool and hot spa, poolside bar, snack bar, barbecue and lounging area, dog park and washroom, rooftop entertainment and observation deck, fitness center, and concierge service. Property management responsibilities have been transferred to affiliated company Mission Rock Residential.
Steelyard is located in Downtown St. Louis and in 2018, ranked as one of the top 100 cities for business and careers, as well as education. The metro is largely supported by the healthcare industry and is home to several hospitals and medical centers, including top ranked St. Louis Children’s Hospital. Other notable area employers include Anheuser-Busch, BJC HealthCare, SSM Health, Mercy Hospital St. Louis, Boeing, and Washington University in St. Louis.
To learn more visit www.steelyard-stl.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 $4.6 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 87 properties (21,381 units) across 15 states. For additional information, visit www.hamiltonzanze.com.
“Why You Should Start With Accounting” With Jason Hartman & Ashlee Cabeal
We were excited to work with Thrive Global on this Q&A with HZ’s CFO Ashlee Cabeal for a series about strong women leaders in the real estate industry. Please read the full story at ThriveGlobal.com or on Medium:
“While this might sound boring to some, I would have to start with accounting. As you enter the real estate field you certainly don’t need know what a CAP rate is or a Gross Rent Multiplier. If you knew how to read a balance sheet, though, or how to interpret a Cash Flow Statement, you will be able to learn those other things much intuitively. A basic understanding of accounting principles will greatly help you understand individual real estate deals and identify potential areas for concern.”
Hamilton Zanze Acquires Bluebird Row Apartments in Tennessee
CHATTANOOGA – March 12, 2020 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) acquired the 283-unit Bluebird Row Apartments in Chattanooga, TN on March 4th. The purchase marks the firm’s fourth acquisition of the year and sixth property in Tennessee.
The community, newly built in 2019, is located two hours between Nashville and Atlanta and is situated at the junction of several states, with direct access to Interstates 75 and 24. The community offers a mix of luxury studio, one-, two-, and three-bedroom units averaging 935 square feet in size, with desirable amenities including smart home technology.
“Bluebird Row offered an attractive opportunity to buy a brand-new property in Chattanooga. The property features a robust amenity package, prime location in Downtown Chattanooga, and offers residents the quality of life provided by the city’s energetic urban core,” said David Nelson, Hamilton Zanze’s managing director of acquisitions. “As this is our first acquisition in the metro and sixth in the state of Tennessee within the last 12 months, we are excited about our continued growth in the region.”
High-end community amenities include a resort-style swimming pool, rooftop lounge, 24-hour self-serve market, outdoor grilling stations, rock climbing wall, bocce ball court, pet spa, and a yoga/spin studio. Property management responsibilities have been transferred to affiliated company Mission Rock Residential.
Bluebird Row is located in Downtown Chattanooga, the second-fastest growing city in Tennessee and the hub of a thriving economic region given its location at the juncture of Alabama, Georgia, and Tennessee. In November 2019, Volkswagen began the $800 million expansion of their Chattanooga plant, creating 1,000 additional jobs in the region. Other notable area employers include Erlanger Healthy System, BlueCross BlueShield of Tennessee, Tennessee Valley Authority, McKee Foods Corporation, and Amazon.
________________________________________________________________________________________________
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 $4.6 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 86 properties (21,211 units) across 15 states. For additional information, visit www.hamiltonzanze.com.
Hamilton Zanze Expands Nashville-Area Portfolio
Hamilton Zanze’s acquisition of Commonwealth at 31 was recently featured in Multi-Housing News:
Hamilton Zanze has acquired Commonwealth at 31, an apartment community in the Nashville suburb of Spring Hill, Tenn., for $53.3 million. The 248-unit multifamily property was sold by Commonwealth Capital Partners, according to Yardi Matrix.
Built in 2017, Commonwealth at 31 is Hamilton Zanze’s third acquisition so far in 2020 and the fifth acquisition so far in 2020 and the fifth acquisition to date in the Nashville metropolitan region.
Read the full article at Multi-Housing News, and see more coverage at Yahoo Finance, and Nashville Post.
Hamilton Zanze Purchases Multifamily Community in the Nashville Metro
NASHVILLE, TN – February 26, 2020 – San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 248-unit Commonwealth at 31 multifamily community in Spring Hill, TN. The purchase marks the firm’s third acquisition of the year and fifth acquisition in the Nashville metro area.
“Commonwealth at 31 offered an attractive opportunity to buy a brand-new property in a strong submarket,” said David Nelson, managing director of transactions for Hamilton Zanze. “The property features a contemporary vintage, robust amenity package, and prime location within a great school district in Spring Hill which will provide our residents with the quality of life offered in Nashville’s urban core. As this is our fourth acquisition in the metro within the last 12 months, we are excited about our continued growth in the region.”
Built in 2017, Commonwealth at 31 offers spacious one-, two-, and three-bedroom units averaging 1,009 square feet. The community includes a resort-style swimming pool, fitness center, dog park, and community fire pits. Large units feature washers and dryers, private balconies, walk-in closets, and stainless-steel appliances.
HZ’s capital improvements plan includes community amenity upgrades, environmentally conscious interior investments, and exterior renovations. Property management responsibilities have been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.
The community is located a 35-minute drive south of downtown Nashville in Williamson County, which is home to the top-ranked school district in Tennessee, which drives housing demand in the area. Nashville benefits from a well-established economy driven by top universities, including Vanderbilt University, and abundant business opportunity.
To learn more about Commonwealth at 31, please visit https://commonwealth31.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 $4.5 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 85 properties (20,298 units) across 15 states. For additional information, visit www.hamiltonzanze.com.
Podcast: The Key Traits of a Solid Partnership, Identifying New Growth Markets, Building a Deep Network of Loyal Investors, and Much More – with Mark Hamilton
HZ CEO and co-founder Mark Hamilton joined Real Estate Investing for Cash Flow host Kevin Bupp to discuss his own career in real estate and the company’s growth as we have expanded our portfolio into new and evolving markets.
Check out the full episode below and visit Real Estate Investing for Cash Flow for notes from the show and more episodes of the podcast.
Hamilton Zanze Sells Maybeck at the Bend Apartments in Oregon
PORTLAND, OR – February 10, 2020 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Maybeck at the Bend in Tigard, OR. The firm purchased the property in 2014 and executed significant value-add opportunities to reposition the 1998-vintage community with contemporary amenities and interiors to remain competitive in Portland’s amenity-rich multifamily market. Hamilton Zanze owned the property for six years, and the sale closed on February 6, 2020, marking the firm’s first disposition of the year.
Maybeck at the Bend was built in 1998 and is located at 13830 SW Chinn Lane. The property comprises 120 units across 10 residential buildings. Maybeck at the Bend’s one-, two-, and three-bedroom units average 843 square feet for a total of 101,190 rentable square feet. The property also features a clubhouse/leasing center, fitness center, outdoor pool, 24/7 package lockers, and bike storage.
“When we purchased Maybeck at the Bend, we saw a classic value-add opportunity,” said Anthony Ly, director at Hamilton Zanze. “We are thrilled with our execution of capital improvements, unit renovations and a rebrand of the property. This is a great outcome for our investors. Ira Virden and the rest of the Portland JLL team did a tremendous job on the marketing of this deal.”
During their ownership, the company improved the clubhouse and leasing office and upgraded unit interiors. Alongside the property’s physical improvements, Maybeck at the Bend was rebranded from Beef Bend Court in 2016.
Maybeck is located in Portland’s Tigard submarket, where rent growth has been robust due to strong demand as a result of the submarket’s affordability, lack of new construction, and its proximity to the market’s major economic drivers. Nike and Intel, two of Oregon’s largest employers, are situated within the submarket just 25 minutes north of the property. Additionally, Portland’s vibrant food and art culture continues to attract millennials seeking the quality of life that the Pacific Northwest provides.
________________________________________________________________________________________________
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 $4.4 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 85 properties (20,800 units) across 15 states. For additional information, visit www.hamiltonzanze.com.