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Hamilton Zanze Sells Multifamily Community in Seattle Metro
MOUNTLAKE TERRACE, Wash. – November 1, 2021 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Maple Glen Apartments in the desirable Lynnwood/Edmonds/Mukilteo submarket of Seattle, Washington. The firm purchased the property in 2015 and the sale closed on October 28, 2021.
During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated units with new lighting, windows, hardware, and balcony repairs to improve leasing efforts and increase rental rates.
“We are elated with our business plan execution with Maple Glen and the outcome for our investors. Since acquisition, we were able to renovate units and implement expense saving measures and take advantage of the growth in Mountlake Terrace,” said Anthony Ly, director of dispositions at Hamilton Zanze. “The ahead of schedule delivery of the light rail expansion will make the property a very desirable location.”
Maple Glen Apartments was built in 1986 and is located at 5424 212th Street SW in Mountlake Terrace. The property comprises 106 one- and two-bedroom units averaging 794 square feet. The community features a fully renovated clubhouse with fitness center, lounge, swimming pool, sauna, and spa.
Maple Glen Apartments is in the Lynnwood/Edmonds/Mukilteo submarket of the Seattle metro area. The community is centrally located near Interstate 5, Interstate 405, and the Seattle-Tacoma International Airport, which provides nonstop flights to domestic and international destinations. The property is in proximity to large employers including Amazon, Naval Station Everett, and Boeing. Seattle’s economy benefits from stable employment growth in mid- and high-paying sectors and is home to eight Fortune 500 companies.
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 91 properties (21,995 units) across 15 states and 28 markets. For additional information, visit www.hamiltonzanze.com.