Hamilton Zanze Sponsors the Acquisition of Two Garden-Style Communities in Reno Area

SAN FRANCISCO – July 10, 2025 – Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, today announced it has sponsored the purchase of Lakeview and Sand Pebble/Spanish Oaks, two apartment communities in the Reno, Nev., metropolitan area. The acquisitions closed on June 30, 2025.

Hamilton Zanze sponsored the transaction through HZ Capital Partners Fund I, its discretionary fund that targets the acquisition of multifamily properties, alongside joint venture partner New York Life Real Estate Partners. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the properties, which sit within seven miles of one another.

“We’re thrilled to be expanding our portfolio in Reno—a market that continues to demonstrate strong fundamentals,” said David Nelson, president and chief investment officer at Hamilton Zanze. “With its business-friendly climate, a limited multifamily supply pipeline and recent investments from Amazon, Google and Tesla, Reno is well-positioned for sustained rent growth. We’re eager to unlock value at both assets through a strategic value add program, including unit renovations, building upgrades and enhancements to the common areas and amenities.”

Located at 2600 East Shore Drive in Reno, Lakeview features 328 studio, one-, two- and three-bedroom homes and overlooks Virginia Lake. The community is surrounded by multiple biking/jogging paths, several golf courses and shopping centers, and is within a quick commute of the Reno Convention Center. Community amenities include a swimming pool, barbecue/picnic area, basketball court, onsite gym, laundry facility and playground. Homes include air conditioning, high-speed internet and private patios or balconies.

Sand Pebble/Spanish Oaks is situated at 1877 El Rancho Drive in nearby Sparks, Nev., and features 448 one-, two- and three-bedroom homes. The two-story community, originally built in 1983, features a resident clubhouse, swimming pool, sauna spa, laundry facilities, basketball and tennis courts, onsite fitness center and additional storage space. Apartment features include air conditioning, high-speed internet, washer/dryer hookups, fireplaces, walk-in closets and private patios or balconies.

“We’re excited to continue our relationship with Hamilton Zanze,” said Albert Pura, senior director of transactions for New York Life Real Estate Investors. “The opportunity to acquire these assets was very attractive given the outlook for Reno, initial basis, as well as the multiple layers to drive additional value.”

These transactions represent Hamilton Zanze’s third and fourth sponsored acquisitions of 2025.

About Hamilton Zanze

Hamilton Zanze is a private, San Francisco-based real estate investment company that invests with the highest standards. Since its founding in 2001, Hamilton Zanze has sponsored the acquisition of over $7.5 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S. The company’s portfolio currently comprises 123 properties (21,777 units) across 28 markets. For additional information, visit www.hamiltonzanze.com.