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Multifamily Investor Hamilton Zanze Acquires Timbers at Long Reach in Columbia, MD
WASHINGTON, D.C. – January 8, 2020 – San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 178-unit Timbers at Long Reach apartment community in Columbia, Maryland. HZ now owns and operates six properties in the metro area.
“The Timbers at Long Reach’s strategic location near Interstate 95 provides residents easy access to Downtown Baltimore, Downtown Washington D.C., and other major employment centers,” said David Nelson, managing director of acquisitions for Hamilton Zanze.
The purchase marks the firm’s 12th acquisition of the year. The acquisition is part of a three-property portfolio that HZ is purchasing from Aimco including the Lodge on the Chattahoochee, Timbers at Long Reach, and Chimneys of Cradlerock.
Built in 1979, Timbers at Long Reach was 98% occupied rate at the time of purchase. Residents of the garden-style community have access to Luxor One package lockers, a dog park, and walking paths throughout the community. Spacious units feature washers and dryers, walk-in closets, and private patios and balconies.
HZ’s capital improvements plan includes exterior maintenance and improvements, landscaping, and interior unit renovations. Property management responsibilities have been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.
The Timbers at Long Reach is located 15 miles southwest of Baltimore and 32 miles northeast of Washington D.C. in a top-rated Howard County school district. The property is located in close proximity to several retail centers, including Columbia Crossing Shopping Center just a mile away.
To learn more about Timbers at Long Reach, please visit www.thetimbersatlongreach.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 $4.3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 85 properties (20,334 units) across 15 states. For additional information, visit www.hamiltonzanze.com.