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 Portfolio in Atlanta, GA
ATLANTA, Ga.- June 15, 2022 – San Francisco-based real estate investment firm Hamilton Zanze is excited to announce the sale of The Residences at Vinings Mountain, a three-property portfolio consisting of the Peak at Vinings Mountain, Lakeside at Vinings Mountain, and The Views at Vinings Mountain. The firm purchased the desirable Georgia multifamily apartment properties in 2016, and the sale closed on May 24, 2022.
Throughout their ownership, Hamilton Zanze completed numerous improvements in efforts to improve leasing efforts and increase rental rates. Interior advancements on buildings surrounding the lake at the Lakeside property include additions of granite countertops and new stainless-steel appliances. Exterior upgrades also helped to improve the overall allure of the portfolio; during ownership, HZ performed tree trimming to allow for pool and lake views, built a waterfront gazebo, and extended walking trails around the properties.
“The Residences at Vining’s is a significant disposition for Hamilton Zanze. Prior to 2016, HZ focused on the West Coast and Southwest markets. The three-property portfolio was our first acquisition in the southeast and laid the foundation for our expansion into the eastern U.S,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “The Vining’s portfolio exceeded return expectations over the projected five-year hold period. We are pleased with the execution of our business plan that included unit renovations, clubhouse upgrades, and improving management.”
The three assets in the Vinings Portfolio are garden-style Class B+ communities built in 1980 and 1983 on over 53 acres. Together, these gated properties are comprised of 34 total two- and three-story residential buildings with a total of 680 units. The community includes several upscale amenities such as fitness centers, game rooms, kitchen areas, a dog park, a movie theatre, a wine-tasting room, a golf simulator, and breathtaking walking trails.
The Vining Properties are just under a 20-minute drive from Downtown Atlanta, offering easy access to Interstates 75 and 285. The community is in close proximity to major employment centers. The properties are only a 2.4-mile drive from one of Atlanta’s top tourist attractions, SunTrust Park, home of the Atlanta Braves. Surrounding the Vining Properties are comparatively affluent neighborhoods, benefitting from stable employment growth from the healthcare, manufacturing, and construction industries.
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 $5.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 133 properties (22,087 units) across 17 states and 29 markets.