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
HZ Sells Arches at Hidden Creek Apartments for $55 million
CHANDLER, Ariz. – Hamilton Zanze completed the $55 million sale of Arches at Hidden Creek, a 432-unit multifamily community located at 1586 W. Maggio Way in Chandler, AZ.
CBRE’s Phoenix office negotiated the transaction. The seller was a venture between Hamilton Zanze of San Francisco, CA and New York, NY-based New York Life Real Estate Investors, on behalf of institutional clients. The buyer was Seattle, WA-based Security Properties.
“Arches at Hidden Creek is located just one mile east of the Price Road Corridor, the Valley’s largest and most established high-tech employment corridor. This location positions the community to capitalize on strong demand for multifamily housing in the Chandler submarket,” said CBRE’s Sean Cunningham.
Built in 1985, Arches at Hidden Creek is a garden-style community featuring all two-story buildings and a desirable low-density site plan. Community amenities include four swimming pools, a resident clubhouse and a fitness center. The community recently received upgrades to the clubhouse, fitness center and other community areas. Individual residences feature well-appointed kitchens, spacious walk-in closets, washer/dryers, fireplaces, and private patios/balconies.
Read more by visiting the AZ Big Media website.