HZ News

HZ’s Founding Principal and Co-Chair, Mark Hamilton, joined Street Smart Success with Roger Becker to discuss the state of the multifamily investment market, pricing, the different asset classes, the expected returns on your investments, and much more.

Check out the full episode below or on Spotify.

We are pleased to announce that Ashlee Cabeal, Hamilton Zanze’s (HZ) Chief Financial Officer has been recognized as one of Globe St. Real Estate Forum’s 2022 Women of Influence!

Since 1983, Globe St. has recognized a group of female real estate professionals for their achievements in the field. These individuals have personally impacted the market and have significantly driven the industry to new heights through their outstanding success.

Ashlee is a longtime member of the HZ team and embodies the kind of leadership and diligence required by today’s fast-paced real estate investment industry. She oversees HZ’s tax, accounting, and transactions teams.

According to HZ’s Founding Partner Mark Hamilton, “Working with Ashlee for the last 10-plus years has been a joy and inspiration. She has routinely tackled complicated work under tight deadlines and has always shown persistence, great collaborative ability, and composed leadership. She was a natural fit for our CFO position and has exceeded every expectation, implementing change and garnering praise across the HZ platform since assuming the role in 2019.”

ASHLEE CABEAL Ashlee Cabeal started as an intern at Hamilton Zanze in 2010 and today she serves as the firm’s CFO. Within her role, Cabeal leads the firm’s tax, accounting and transaction group teams, oversees the financial mechanics of individual multifamily investment deals, processes the distributions associated with holdings and dispositions, and manages the corporate books. In 2021, Cabeal helped the firm close its largest-ever transaction, a $437 million, 60-property portfolio in Northern California. She also led the firm’s launch of a new digital investor portal, which has helped the company garner more interest in each investment opportunity. Cabeal recently helped launch the company’s first discretionary fund, for which she studied taxation nuances and helped the company make the necessary adjustments. Additionally, under Cabeal’s leadership, the first achieved its largest annual acquisition volume in 2021. Cabeal is active in Bay Area real estate communities and regularly participates in national educational conferences.

You can read more about the award and other winners in Globe St.’s July issue. Congratulations Ashlee!

LAS VEGAS, Nev. – July 21, 2022 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Alicante Apartments in the desirable Las Vegas-Paradise submarket of Las Vegas, Nevada. The firm purchased the Class B+ community in February 2017 and the sale closed on July 19, 2022.

During their ownership, Hamilton Zanze completed many successful renovations focused on making the property run more efficiently. These projects include exterior lighting advancements, new furniture implementations, landscaping improvements, plumbing upgrades, an Amazon package locker installation, and gate replacements.

“Alicante was right down the fairway for Hamilton Zanze,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “When acquiring the property, the value-add potential was very clear. We were able to capture higher rents through unit upgrades and enhancements to amenities throughout the property.”

Alicante Apartments was built in 2001 and is located at 4370 S Grand Canyon Drive. The property comprises 232 one-, two-, and three-bedroom units averaging 1,092 square feet. Unit amenities include walk-in closets, outdoor storage, kitchens with microwaves, dishwashers, and private patios/balconies. Community amenities feature a resort-style pool and spa, playground, fitness center, barbecue and covered picnic area, and business center with high-speed internet.

Alicante is located in Las Vegas, NV, just off Interstate 215 and W Flamingo Road, providing residents with easy access to Downtown Las Vegas, Downtown Summerlin, and major retail and employment centers. Alicante is located near several of Las Vegas’ largest economic drivers, such as Southern Hills Hospital, Downtown Summerlin, Spring Valley Hospital, and McCarran International Airport. Las Vegas is one of the world’s most-visited tourist destinations, the metro attracted 32.3 million visitors in 2022. The strength within the tourism industry has fueled job growth and strong apartment fundamentals.

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 $6.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 132 properties (22,821 units) across 17 states and 30 markets. For additional information, visit www.hamiltonzanze.com. 

BALTIMORE, MD. – July 11, 2022 – San Francisco-based real estate firm Hamilton Zanze (HZ) partnered with DCA Partners to acquire the 255-unit Residences at Waterstone in Pikesville, Maryland. Cushman & Wakefield represented both buyer and seller on this transaction. 

The property, built in 2002, is just north of Downtown Baltimore, which is situated at the northernmost mouth of the Patapsco River on the Chesapeake Bay.

“We are excited to expand our presence in Maryland with the purchase of Residences at Waterstone in Pikesville, MD,” said David Nelson, Hamilton Zanze’s Chief Investment Officer. “This unique asset features oversized units, favorable amenities, convenient location to employers, and close proximity to an abundance of retail and entertainment in Downtown Baltimore.”

The community is located at 225 Galvariun Court in the desirable Owings Mills/Pikesville/Randallstown submarket, approximately 22-minute drive or 15 miles from Downtown Baltimore. The 255 units average 1,453 square feet with 26 different floor plans. Community amenities include a fitness center, resort-style swimming pool with a sundeck, movie theater, tennis courts and a dog park. Unit amenities include attached garages, stainless steel appliances, granite countertops, hardwood/vinyl flooring, washer/dryer in unit, and private balconies.

HZ’s capital improvements will include site improvements, building repairs, amenity improvements, continuing the unit renovation campaign implemented by the seller, and sustainability updates. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

To learn more about Residences at Waterstone, please visit https://www.residencesatwaterstone.com/.

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 $6.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 132 properties (22,821 units) across 17 states and 30 markets. For additional information, visit www.hamiltonzanze.com. 

ODENTON, Md. – July 7, 2022 – San Francisco-based real estate investment firm Hamilton Zanze is excited to announce the purchase of Echelon at Odenton Apartments, our 14^th acquisition in the state of Maryland. The firm closed the deal on this Class-A property on June 28, 2022.

The Echelon at Odenton property is a garden-style community built in 2016 on 6.6 acres. The property was 97% occupied at purchase and is comprised of a single-story central clubhouse and two five-story residential buildings. These units range from 759 square feet to 1,456 square feet. The community includes several upscale amenities such as a state-of-the-art theater, barbecue and grilling areas, clubhouse, TV lounge and bar, playground, game room, pool, covered bike storage, and many others. Unit amenities include storage space, in-unit washers/dryer, stainless steel appliances, walk-in closets, loft floorplans, high ceilings, and more.

“We are excited to further expand our presence in Maryland with the purchase of Echelon at Odenton,” said David Nelson, Hamilton Zanze’s chief investment officer. “The 2016 mid-rise asset features best-in-class amenities, central location near the largest employers in the state of Maryland like Fort Meade, and close proximity to an abundance of retail and entertainment in Downtown Baltimore. This property is in a strong position due to its stable, high-income tenant base employed in essential roles across military and government positions.”

The property is located at 315 Nevada Avenue in Odenton, located in the Baltimore Metropolitan Area. Its position within the Baltimore MSA provides easy access to major employment markets and entertainment options. There are 10 Fortune 500 companies are based in the Baltimore metro, including McDonalds, DISH Network, Dollar Tree, and International Paper. Odenton is also a top regional destination for locals and tourists, as it offers many unique restaurants, coffee shops, outlets, amusements rides, and events. With this latest acquisition, HZ now owns and operates six properties in the Baltimore market.

HZ’s capital improvements will include site and landscaping enhancements, amenity updates, unit maintenance repairs, and sustainability implementation. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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 132 properties (22,821 units) across 17 states and 30 markets. For additional information, visit www.hamiltonzanze.com.

RICHMOND, Va. – June 15, 2022 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Hunter’s Chase Apartments in the desirable Chesterfield County submarket of Richmond, Virginia. The firm purchased the property in 2017 and the sale closed on May 25, 2022.

During their ownership, Hamilton Zanze completed a successful unit renovation campaign, an office and gym renovation, landscaping improvements, siding replacement and paint, balcony and deck repairs, and an asphalt mill and repave.

“Hunters Chase is one of our early northeast acquisitions. In a partnership with Aegon Asset Management, over $8.5 million in property improvements were completed. Some of these improvements included a property wide siding replacement, unit renovations, club house upgrades, and full window replacements. HZ asset and project management teams were able to complete all property improvements within three years of acquisition.” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “Hunters Chase returns exceeded initial expectations and occurred in just five years versus the projected 10-year hold period. We are grateful in identifying an opportunity like Hunters Chase with a partner like Aegon who shared the same vision in realizing the upside in the property.”

Hunter’s Chase was built in 1986 and is located at 5200 Hunt Master Drive in Midlothian. The property comprises 320 one-, two-, and three-bedroom units averaging 816 square feet. The community features a resort-style swimming pool, 24-hour fitness center, tennis courts, self-service car wash, and two playgrounds with a rock-climbing wall.

Hunter’s Chase is located just over 18 miles southwest of Downtown Richmond in the Chesterfield County submarket. Richmond’s diverse economy is built around a mix of healthcare, government, and finance jobs. Major Richmond-area employers include Philip Morris USA, Amazon.com, the U.S. Department of State, the United States Postal Service, HCA Virginia Health System, Wal-Mart Stores Inc., and Anteon Corporation. Due to Chesterfield County’s central location and excellent transportation infrastructure, the region has become a manufacturing and distribution hub, home to the headquarters of major manufacturers like DuPont and Honeywell, Inc.

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. For additional information, visit www.hamiltonzanze.com.

HENDERSON, Nev. – June 15, 2022 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Miro at the Parc in the desirable Henderson/Green Valley submarket of Las Vegas, Nevada. The firm purchased the property in 2014 and the sale closed on May 25, 2022. Newmark’s Doug Schuster represented sellers at acquisition and disposition.

During their ownership, Hamilton Zanze completed numerous exterior and landscaping improvements, and several amenity upgrades.

“Las Vegas continues to be a solid market with strong population and job growth. Miro at the Parc represents the 10th Las Vegas sale for Hamilton Zanze,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “We were ahead of schedule with our business plan and returns well exceeded initial expectations. It is great to deliver a win to our investors here.”

Miro at the Parc was built in 2013 and is located at 1651 American Pacific Drive in Henderson. The property comprises 164 one- and two-bedroom units averaging 1,043 square feet. The community has a 5,000-square-foot clubhouse with TV rooms, pool tables, shuffleboard, arcade games, and a 24-hour fitness center. The property also has a pool with a beach area, fire pits, showers, and an infinity hot tub.

Miro at the Parc is in the Henderson/Green Valley submarket of the Las Vegas metro area, one of the most affluent submarkets in the market. The property is conveniently located close to two major freeways, I-515 and I-215, which provide easy access to downtown Las Vegas. Additionally, the property is located just a 20-minute drive west of the Las Vegas Strip, which provides entertainment, shopping, and dining for residents.

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. For additional information, visit www.hamiltonzanze.com.

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 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 the 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 extending 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. For additional information, visit www.hamiltonzanze.com.

HOUSTON, Texas. – June 7, 2022 – San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 200-unit Park at Waterford Harbor Apartments in Kemah, Texas. This represents HZ’s 26^th acquisition in Texas.

The community, built in 1996, is 29 miles southeast of Downtown Houston, which has become a headquarters hub for several Fortune 500 companies including Phillips 66, Sysco, and Hewlett Packard Enterprise.

“We are very excited to add Park at Waterford Harbor to our portfolio and add another asset in the Clear Lake Submarket.” said David Nelson, Hamilton Zanze’s chief investment officer. “Its appealing location on the Kemah Harbor, proximity to NASA’s Johnson Space Center, other strong job drivers in the Houston metro, and the wide range of amenities and floorplans the property offers drew us to the opportunity. Along with our nearby property Signature Point, we look forward to continuing to grow our presence in the Houston MSA.”

The Park at Waterford Harbor Apartments was 96.5% occupied at purchase. The community is located at 1420 Marina Bay Drive in the desirable Clear Lake submarket, approximately 35 minutes from Downtown Houston. The 200 units average 982 square feet with seven different floor plans. Community amenities include a fitness center, dog park, and a putting green. Unit amenities include granite countertops, stainless steel appliances, large closets, and washers and dryers in each unit.

HZ’s capital improvements will include site and building improvements, amenity updates, a unit renovation campaign to update 40 remaining classic units, and sustainability implementation. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

To learn more about The Park at Waterford Harbor Apartments, please visit https://www.missionrockresidential.com/apartments/tx/kemah/park-at-waterford-harbor/#/

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 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 $5.8 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 132 properties (22,821 units) across 17 states and 30 markets. For additional information, visit www.hamiltonzanze.com. 

RICHMOND, Va. – May 17, 2022 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Copper Mill Apartments in the desirable Northwest Richmond submarket of the Richmond metropolitan area. The firm purchased the property in 2018 and the sale closed on May 10, 2022.

During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated unit interiors and amenities to improve leasing efforts and increase rental rates.

“Copper Mill was one of the first assets we acquired in the Northeast. This sale represents our first full cycle investment in the state of Virginia.” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “We are pleased to have executed on our business plan which included improving management and upgrading unit interiors and ultimately allowing HZ to deliver a solid return to our investors.”

Copper Mill was built in 1987 and is located at 3400 Copper Mill Trace in Richmond, Virginia. The property comprises 192 one- and two-bedroom units averaging 826 square feet. The community features a swimming pool, fitness center, tennis court, volleyball court, car wash area, and a beautiful lakeside setting.

Copper Mill is located along U.S. 250, a key thoroughfare, and near interstates 64 and 295, providing residents easy access to Downtown Richmond, Short Pump, Washington D.C., and Virginia Beach. The property is also 19.6 miles (22-minute drive) northwest of Richmond International Airport. The Richmond metro area economy is primarily driven by diverse employment in education, healthcare, finance, and government sectors. Nearby academic and research institutions like the University of Richmond and Virginia Commonwealth University continue to supply the metro with a young, educated workforce.

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 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 $5.8 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 132 properties (22,821 units) across 17 states and 30 markets. For additional information, visit www.hamiltonzanze.com.