PORTLAND, Ore. – June 15, 2021 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Preserve at Sunnyside in the desirable Clackamas submarket of Portland, Oregon. The firm purchased the property in 2014 and the sale closed on June 10, 2021.
During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated units with new cabinets, appliances, hardware, and paint to improve leasing efforts and increase rental rates.
“The Preserve at Sunnyside truly shows our ability to provide our investors with high-quality multifamily investing opportunities,” said Anthony Ly, director of dispositions at Hamilton Zanze. “We are glad to have executed our business plan and achieve a positive outcome for our investors.”
Preserve at Sunnyside was built in 1991 and is located at 13300 SE 122nd Ave. in Clackamas. The property comprises 108 one-, two-, and three-bedroom units averaging 1,025 square feet. The community is pet-friendly and has a pool and spa, clubhouse with a full kitchen, covered parking, a dog park, and a playground.
Preserve at Sunnyside is in the Southeast Portland submarket of the Portland metro area. The community is near Interstate 205, Highway 224, and Clackamas Town Center Transit Station, which provides numerous public transportation options to connect residents to Downtown Portland and Portland International Airport. Occupancy in the submarket registered 96.1%, an 0.5% increase year-over-year. Annually, rent performance was strong in the Southeast Portland submarket, registering at a 2.6% increase year-over-year. After the effects of the pandemic subside, economic and job growth are projected to continue in the metro.
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 $5.3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 99 properties (23,111 units) across 15 states and 29 markets. For additional information, visit www.hamiltonzanze.com.