HZ News

Hamilton Zanze’s acquisition of Rivertop Apartments was recently featured in the Nashville Business Journal.

A West Nashville apartment complex has been sold for $57.1 million.

Nashville Post reports that San Francisco-based Hamilton Zanze and Co. bought the RiverTop apartments, which are located at 5820 River Road, near the Cumberland River. With 224 units, it represents a purchase price of about $255,000 per unit.

Read the full article at the Nashville Business Journal.

Hamilton Zanze’s acquisition of Rivertop Apartments was recently featured in the Cision PR Newswire.

San Francisco-based real estate investment firm Hamilton Zanze (HZ) partnered with Cantor Fitzgerald to purchase the Rivertop Apartments in Nashville, TN. The transaction closed on October 4th, and property management responsibilities have been transferred to Mission Rock Residential.

The property was recently developed by Birmingham-based LIV Development and was completed in 2019. The property is located at 5800 River Road in West Nashville, and its proximity to the Cumberland River provides scenic views, access to walking trails, and options for outdoor recreation including kayaking, canoeing, and fishing. Downtown Nashville is a short 20-minute drive from the property.

Read the full article at the Cision PR Newswire.

Hamilton Zanze was recently featured in the Nashville Post for their recent acquisition of Rivertop Apartments.

Read the full article at the Nashville Post.

NASHVILLE – October 9, 2019 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) partnered with Cantor Fitzgerald to purchase the Rivertop Apartments in Nashville, TN. The transaction closed on October 4th, and property management responsibilities have been transferred to Mission Rock Residential.

The property was recently developed by Birmingham-based LIV Development and was completed in 2019. The property is located at 5800 River Road in West Nashville, and its proximity to the Cumberland River provides scenic views, access to walking trails, and options for outdoor recreation including kayaking, canoeing, and fishing. Downtown Nashville is a short 20-minute drive from the property.

“Rivertop Apartments provided a great opportunity to buy a brand-new property in a great submarket,” said Dave Nelson, Hamilton Zanze’s managing director of transactions. “We are confident that the property’s contemporary vintage, amenity package, and prime location will provide our residents with the quality of life offered in Nashville’s urban core. We are excited about our continued growth in the region.”

The 224-unit luxury apartment community offers large one-, two-, and three-bedroom units ranging between 878 square feet and 1,418 square feet. Rivertop features state-of-the-art amenities and high-end interiors that include granite countertops, ceramic tile backsplashes, stainless steel appliances, wood-style flooring, and private balconies.

Community amenities include a resident clubhouse, resort-style swimming pool, 24-hour fitness center, bocce ball court, dog park, pet spa, and outdoor grills and firepits.

Nashville benefits from a well-established economy driven by a dynamic private sector and a qualified workforce stemming from the presence of top regional universities like Vanderbilt University, Fisk University, and Middle Tennessee State University.

Tennessee’s capital city is known for its music industry, but its educated talent pool and affordable operating costs also make it a top destination for relocating and expanding companies including Gap, LG Electronics, Bridgestone, and Ernst & Young. Continued investments in Nashville resulted in over 15 million annual visitors and $7 billion in visitor spending in 2018.

To learn more about the Rivertop Apartments, please visit www.missionrockresidential.com/apartments/tn/nashville/rivertop/.

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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 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 82 properties (19,826 units) across 15 states. For additional information, visit www.hamiltonzanze.com. 

Las Vegas, NV – September 27, 2019 – Hamilton Zanze, a San Francisco-based real estate investment firm, is pleased to announce the sale of The Village at Desert Lakes in Las Vegas, NV. The property is located in The Lakes, a master-planned community in a highly desirable West Las Vegas neighborhood. Hamilton Zanze owned the property for seven years and sold the property on September 26, 2019.

Village at Desert Lakes was built in 1990 at 9155 West Desert Inn Road. The 184-unit, 15-building community features an indoor lap pool and basketball court, attached garages, and large one-, two-, and three-bedroom floor plans averaging 1,024 square feet.

“We are thrilled with our execution with The Village at Desert Lakes,” said David Nelson, Hamilton Zanze’s managing director of transactions. “We were able to raise net operating income significantly through successful unit upgrades and expense control, allowing us to take out a supplemental loan to expand our renovation scope. This is a great outcome for HZ and our investors.”

Hamilton Zanze rebranded the property from Broadstone Desert Lakes to The Village at Desert Lakes in 2012. During their ownership, the company executed a value-add campaign including pool area upgrades, leasing office and clubhouse renovations, new signage, landscaping, and unit renovations. Units were updated with stainless steel appliances, grey cabinetry, quartz countertops, new light fixtures and carpet, and faux wood flooring.

Las Vegas hosts over 40 million visitors annually for its entertainment and gaming industries, and there are currently about $15 billion in construction projects planned in the metro area, including the Madison Square Garden Sphere, Raiders Stadium, a Las Vegas Convention Center expansion, and The Las Vegas Medical District and University of Nevada, Las Vegas Medical School. The Greater Las Vegas economy continues to grow as a result of its high quality of life, strong employment and population growth, and continued investments in the region.

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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 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 81 properties (19,602 units) across 15 states. For additional information, visit www.hamiltonzanze.com.

Ashlee Cabeal, CPA, a longtime member of the Hamilton Zanze team, has been promoted to the role of Chief Financial Officer. Prior to her current position Ashlee served as a Senior Director on the HZ Transactions team, focusing on acquisitions, dispositions, and refinance activity. In this role she also provided expertise in deal sourcing, underwriting, loan originations, and closings.

Before joining Hamilton Zanze as an intern in 2010, Ashlee worked as a senior audit associate at PricewaterhouseCoopers. There, she focused on servicing banking and private equity clients.

Ashlee has a B.S. in Accounting and a B.B.A. in Marketing from Loyola Marymount University, and an M.B.A. from the University of California, Davis. She is also a Certified Public Accountant in the state of California. In her spare time, she enjoys traveling, the great outdoors, and cooking.

We are honored to have Ashlee as a part of the HZ team and highly value her contribution to the company’s success. The opportunity to work alongside her through her spectacular professional trajectory has been incredible for each of us. Please join us in congratulating her for her elevation into this important new role at Hamilton Zanze.

HZ is proud to congratulate Patricia Hutchison, president of HZ’s property management partner Mission Rock Residential, on being named the 2019 Multifamily Executive of the Year by Multifamily Executive Magazine.

Multifamily Executive writes:

Launched in 2012, Mission Rock has 675 employees and manages more than 25,000 units in 15 states. It is undergoing rapid growth, onboarding 1,900 units in the past six months alone. “When we decided to create Mission Rock, my partner, Mark Hamilton, and I both knew she would make a highly qualified candidate, able to take the company far,” says Tony Zanze, co-founder of Hamilton Zanze. “At the time, we had no idea just how far and how quickly that would happen.”

Read more at MultifamilyExecutive.com

Alexandria, VA – September 6, 2019 – National real estate investment firm Hamilton Zanze has acquired the Abbotts Run apartment community in Alexandria, Virginia (Washington D.C. market). The purchase closed on August 29^th and property management responsibilities have been transferred to Mission Rock Residential.

Abbotts Run was built in 1988 and is located near the Potomac River in a desirable school district near abundant employment opportunities in Washington D.C. The community offers a mix of one- and two-bedroom units ranging from 693 to 1,352 square feet. Select units are loft style.

“Northern Virginia is experiencing substantial growth, and Abbotts Run is strategically located to serve the market,” said David Nelson, Hamilton Zanze’s senior director of acquisitions. “Abbotts Run is an excellent example of what we are looking to acquire, as it offers immediate scale in a strong submarket. We will continue to look for well-located, large assets throughout the Washington D.C. metro.”

Units feature black, hard-surface countertops, tile backsplashes, stainless steel appliances, faux wood flooring, brushed nickel hardware, and in-unit washers and dryers. Community amenities include a 24-hour clubhouse, game room, resort-style swimming pool, playground, tennis and volleyball courts, and outdoor picnic and grilling stations. A private car washing station is also available for resident use.

The majority of units were renovated by the seller. HZ plans to renovate the 17 remaining classic units and update the community’s outdoor lighting and clubhouse space.

Abbotts Run is located in one of the metro’s most affluent submarkets, South Fairfax County, with median home income and median home values more than twice the U.S. average. The county’s economy is centered predominately around the professional services and technology industries, in addition to a thriving higher education market. Amazon’s new HQ2, located only 14.4 miles from Abbotts Run, is expected to create 25,000 new jobs and over $4.3 billion in economic impact.

To learn more about Abbotts Run, please visit www.abbottsrunalexandria.com.

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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 $3.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 81 properties (19,538 units) across 15 states. For additional information, visit www.hamiltonzanze.com. 

San Antonio, TX – August 7, 2019– Multifamily real estate investment firm Hamilton Zanze is pleased to announce the sale of The Enclave at 1550 Apartments in San Antonio, Texas, located just north of downtown San Antonio. The deal closed on August 2, 2019.

The high-rise apartment community comprises 127 one and two-bedroom units totaling 154,413 square feet.

“We traditionally acquire garden style communities, but Enclave 1550 was a unique opportunity for Hamilton Zanze,” said Anthony Ly, Hamilton Zanze’s senior director of dispositions. “The property is the only high rise in this particular pocket of San Antonio (and one of the few in our portfolio) with amazing downtown views. We were able to attract tenants looking for this product type without having to pay the downtown prices. We are thrilled with the execution of our business plan here and outcome.”

The Enclave at 1550 was built in 1996 and is located eight miles north of downtown San Antonio. The units were renovated during Hamilton Zanze’s ownership with improvements including new appliances, fresh paint, upgraded flooring, kitchen countertop resurfacing, new kitchen and bathroom cabinets, and updated hardware and lighting fixtures.

Shared community spaces were enhanced with new landscaping, updates to the pool and BBQ areas, modern signage, and renovated interiors in the shared clubhouse and business center space. Other improvements included fresh exterior paint and new roofing for the long-term benefit of the building’s waterproofing.

The apartment community’s proximity to major San Antonio employment corridors, transportation, and retail continue to attract new residents to the area. Major area employers include the San Antonio International Airport, South Texas Medical Center, USAA, Fort Sam Houston, and AT&T’s regional office. The San Antonio market continues attract expanding companies due to its geographic location, economic stability, and growing workforce.

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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 $3.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 82 properties (19,655 units) across 15 states. For additional information, visit www.hamiltonzanze.com. 

WASHINGTON – July 24, 2019 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) has acquired The Reserve at Ballenger Creek Apartments in Frederick, MD (Washington metropolitan area). The purchase closed on July 10^th, and property management responsibilities have been transferred to Mission Rock Residential.

The community, built in 2000, is located near Interstates 70 and 270, providing direct access into Washington D.C. and its surrounding markets. The community offers a mix of one-, two-, and three-bedroom units ranging from 750 to 1,150 square feet in size. Each unit is equipped with its own private balcony or patio area.

“The Reserve at Ballenger Creek presented an opportunity to buy a well-maintained asset in a strong market where we can continue growing our presence,” said David Nelson, Hamilton Zanze’s managing director of acquisitions. “The property’s vintage, size, location, and amenity base are aligned with our vision, and we will continue looking for opportunities in the Mid-Atlantic.”

Select units feature vaulted ceilings and new carpeting, as well as open kitchen layouts with maple cabinetry, modern appliances, built-in wine racks, and walk-in pantry closets.

Community amenities include a clubhouse with free Wi-Fi, a fitness center and cardio theater, and landscaped courtyards and playgrounds. The Reserve at Ballenger Creek is set apart by its unique community amenities, including car care center and dog park. 

HZ acquired the property with plans to renovate units with quartz countertops, black appliances, new tile backsplashes, plank flooring, new lighting and plumbing fixtures, and more. In addition, exterior siding, trim, paint, and carpentry across the eight total buildings will be updated, and a package locker system will be installed.

Frederick County has experienced strong, long-term economic growth, and regional employers have been successful in attracting and retaining its millennial population. In 2018, Amazon announced the construction of a new corporate headquarter in Arlington, VA (48 miles from the property), comprising 2.1 million square feet and expected to accommodate 25,000 employees. Further, The Reserve is located near several large employers, including Leidos Biomedical Research, Frederick Regional Health Systems, and the area’s largest employer, Fort Detrick.

To learn more about the Reserve at Ballenger Creek, please visit www.ballengercreekapts.com.

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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 $3.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 82 properties (19,665 units) across 15 states. For additional information, visit www.hamiltonzanze.com.