For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Hamilton Zanze Sells Highpointe Park Apartment Homes in Colorado
DENVER, Colo. – August 20, 2020 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Highpointe Park Apartment Homes in Thornton, CO (Denver metro market). The firm purchased the garden-style property in 2016 and the sale closed on August 13, 2020.
Highpointe Park Apartment Homes was built in 2013 and is located at 9701 Pearl Street. The property comprises 220 units across eight residential buildings with fully equipped kitchens, stainless steel sinks, patios, and balconies. Highpointe Park’s one-, two-, and three-bedroom units average 940 square feet for a total of 206,895 rentable square feet. Community amenities include a clubhouse and leasing center, fitness center, outdoor pool and fireplace, spa, and a dog park.
“Since acquiring the property in 2016, we were able to increase occupancy and optimize rents,” said Anthony Ly, director of dispositions at Hamilton Zanze. “We are thrilled with the execution of the sale in this uncertain environment. The marketing process was unique in that it required minimal disruption to residents. We are grateful for the CBRE Denver team’s efforts, which helped us deliver a great outcome to our investors and add to our strong Colorado track record.”
During their ownership, Hamilton Zanze installed energy-saving LED lights and improved resident amenities, upgrading the dog park and adding barbecue grills and cabanas.
Highpointe Park is located in Denver’s Thornton/Northglenn submarket, where rent growth has been constant due to the submarket’s affordability and lack of new construction. Colorado was one of the first states to lift stay-at-home orders due to COVID-19, and the economy has started to rebound with unemployment claims decreasing. Highpointe is just 11 miles north of Downtown Denver, home to some of the metro’s largest employers, including Boeing, Pepsi, and Kraft.
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 $4.6 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 89 properties (21,380 units) across 15 states. For additional information, visit www.hamiltonzanze.com.