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, senior associate on the Hamilton Zanze Transactions team. “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.
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.