Albuquerque, NM – June 30 , 2019 – Multifamily real estate investment firm Hamilton Zanze is pleased to announce the sale of the Links at High Resort apartments in Rio Rancho, New Mexico, just north of Albuquerque. The deal closed on June 21, 2019.
The community includes 306 units across a rolling 17.2 acres in the residential district just north of the metro. The apartments were 94% occupied at the time of sale.
“The HZ team is thrilled by the success of this New Mexico investment,” said Ashlee Cabeal, Hamilton Zanze’s senior director of transactions. “Our team and our partners especially enjoyed the opportunity to refresh all 306 residences, raising the bar for the entire apartment market in this residential suburb.”
The Links at High Resort community was built in 1998 at 201 Pinnacle Drive SE, within 45 minutes of downtown Albuquerque. Hamilton Zanze purchased the property in 2012. The one-, two-, and three-bedroom rental units were renovated during Hamilton Zanze’s ownership with lighting upgrades, roof hatch repairs, refreshed paint across the property, and replaced stair treads.
New Mexico’s economy has led the nation in job and wage gains since January of 2017 and was named by Bloomberg as the #1 for overall economic gains. Major technology players like Facebook and Netflix have been investing heavily in the Albuquerque area, with both companies committed to spending $1 billion dollars in the local economy over the next several years.
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 85 properties (20,086 units) across 15 states. For additional information, visit www.hamiltonzanze.com.