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HZ News

July 15, 2019

Top-5 Multifamily Transactions in Nashville

Hamilton Zanze’s acquisitions of 865 Bellevue and Post Ridge Apartments were recently featured in Multi-Housing News as one of the top-5 multifamily transactions in Nashville:

Investors, developers and employers have long touted Nashville, Tenn., as a city on the rise. Boasting considerable population, job and rent growth, there are many opportunities in the metro across all real estate asset types. Multifamily properties continue to perform well, evidenced by rising rents and nearly $500 million in deals closed in the first half of the year.

2. 865 Bellevue and Post Ridge Apartments

Hamilton Zanze entered the metro with a bang in April with the $80.2 million acquisition of two communities from Aimco. The properties total 476 units and are both located in the Bellevue submarket. Cantor Fitzgerald partnered with Hamilton Zanze to purchase the 326-unit 865 Bellevue Apartments, and two private investors joined forces with the buyer on the 150-unit Post Ridge Apartments buy. KeyBank provided acquisition financing for the deal through Fannie Mae. The $36.8 million mortgage encumbering 865 Bellevue carries a 4.04 percent interest rate over a 10-year term, while the smaller, 10-year loan of $18.1 million on Post Ridge bears a fixed, 4.37 percent interest rate.

Read the full article at Multi-Housing News.



June 30, 2019

Hamilton Zanze Sells Albuquerque-Area Apartment Community

Albuquerque, NM – June 30 , 2019 – Multifamily real estate investment firm Hamilton Zanze is pleased to announce the sale of the Links at High Resort apartments in Rio Rancho, New Mexico, just north of Albuquerque. The deal closed on June 21, 2019.

The community includes 306 units across a rolling 17.2 acres in the residential district just north of the metro. The apartments were 94% occupied at the time of sale.

“The HZ team is thrilled by the success of this New Mexico investment,” said Ashlee Cabeal, Hamilton Zanze’s senior director of transactions. “Our team and our partners especially enjoyed the opportunity to refresh all 306 residences, raising the bar for the entire apartment market in this residential suburb.”

The Links at High Resort community was built in 1998 at 201 Pinnacle Drive SE, within 45 minutes of downtown Albuquerque. Hamilton Zanze purchased the property in 2012. The one-, two-, and three-bedroom rental units were renovated during Hamilton Zanze’s ownership with lighting upgrades, roof hatch repairs, refreshed paint across the property, and replaced stair treads.

New Mexico’s economy has led the nation in job and wage gains since January of 2017 and was named by Bloomberg as the #1 for overall economic gains. Major technology players like Facebook and Netflix have been investing heavily in the Albuquerque area, with both companies committed to spending $1 billion dollars in the local economy over the next several years.

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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 $3.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 85 properties (20,086 units) across 15 states. For additional information, visit www.hamiltonzanze.com



June 20, 2019

Hamilton Zanze Completes Sale of Albuquerque Apartments

ALBUQUERQUE– June 20, 2019 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) is pleased to announce the sale of Las Kivas Apartments in Albuquerque, NM. The firm purchased the apartment community in January 2006.

Built in 1992, Las Kivas Apartments is located at 4777 Tramway Blvd NE and comprises 112 units, totaling 136,412 net rentable square feet. Well-situated on the northeastern side of Albuquerque, the property is located near the Sandia Mountains and 12 miles from the city’s downtown core. Units feature walk-in closets, private patios or balconies, energy-efficient appliances, and in-unit washers and dryers.

“HZ has sold four properties in the Albuquerque metro in the last 12 months, leaving Las Kivas Apartments as one of the company’s final assets in the market,” said Ashlee Cabeal, Hamilton Zanze’s senior director of transactions. “Albuquerque has undoubtedly experienced a strong seller’s market as a result of compressed cap rates.”

During its ownership tenure, Hamilton Zanze added value to the property though renovation projects, including landscaping updates, tree trimming, individual unit upgrades, and community package locker installation. Strong property operations resulted in a high occupancy rate at the time of sale.  

Albuquerque is centered in the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. The city is home to a number of attendant contracting companies, as well as the Sandia National Laboratories and Kirtland Air Force Base. The metro benefits from a highly educated workforce, as it is home to the University of New Mexico, National American University, Trinity Southwest University, and Central New Mexico Community College.

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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 $3.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 83 properties (19,874 units) across 16 states. For additional information, visit www.hamiltonzanze.com



June 15, 2019

Hamilton Zanze Sells 184-Unit Enclave at Water’s Edge to TN Buyer

Hamilton Zanze’s sale of The Enclave at Water’s Edge was recently featured in the Connect Texas – Commercial Real Estate News:

Multifamily investor Hamilton Zanze ended its hold on the 184-unit Enclave at Water’s Edge, selling the north Austin apartment complex to LEDIC Realty Co. The Memphis-based buyer acquired the apartment complex, situated near Austin’s massive mixed-use Domain development, for a value-add play.

Enclave at Water’s Edge is situated on 6.6 acres at 12330 Metric Blvd. The property offers studios, and one- and two-bedroom units. Amenities include three resort-style swimming pools, a barbecue and picnic area, laundry facilities, fitness center, a new fire pit and 24-hour fitness center.

Read the full article at Connect Texas – Commercial Real Estate News, and see more coverage at GlobeSt.



June 1, 2019

Hamilton Zanze Sells Austin Apartment Community

Austin, TX – June 1, 2019 – Multifamily real estate investment firm Hamilton Zanze is pleased to announce the sale of the Enclave at Water’s Edge apartments in Austin, Texas. The deal closed on May 21, 2019.

The community, which includes 184 units across 139,750 square feet, was 96% occupied at the time of sale.

“Enclave at Water’s Edge was right down the fairway for Hamilton Zanze,” said Ashlee Cabeal, Hamilton Zanze’s senior director of transactions. “Its size, vintage, and the Austin submarket itself all presented exciting opportunities at the time of acquisition. We are elated to have executed on this deal and deliver a positive outcome for our investors.”

The Enclave at Water’s Edge community was built in 1986 at 12330 Metric Blvd, just 20 minutes from the Texas State Capitol. Hamilton Zanze purchased the property in 2014 and renovated 82 of the one and two-bedroom rental units during their ownership. Hamilton Zanze also updated the shared common spaces with retaining wall replacements, new asphalt installation, enhanced courtyard landscaping, and pool area upgrades. The community is conveniently located near three major thoroughfares and the Kramer MetroRail station, providing residents broad-reaching transportation options and easy access across the Austin region.

The Enclave is specifically located in Greater Austin’s Silicon Hills region, a growing, robust tech corridor home to several major Austin employers including Google, Facebook, IBM, Amazon, Apple, Indeed, Oracle, Visa, and Samsung. It also sits just one mile away from The Domain, Austin’s premier retail and entertainment district, which houses1.85 million square feet of retail and nearly 4 million square feet of office space.

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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 $3.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 85 properties (20,086 units) across 15 states. For additional information, visit www.hamiltonzanze.com.



May 30, 2019

Bay Area Investor Hamilton Zanze Acquires Nearly 500 Apartments in Nashville in Multi-Property Deal

Hamilton Zanze’s acquisition of Post Ridge Apartments and 865 Bellevue was recently featured in the Cision PR Newswire:

San Francisco-based real estate investment firm Hamilton Zanze (HZ) has acquired two apartment communities, Post Ridge Apartments and 865 Bellevue, in Nashville. The deals mark the company’s first entry into the Tennessee market and ongoing regional expansion in the eastern United States.

Built in the early 1970s, 865 Bellevue comprises 326 rentable units. The preliminary renovation plans for the property include modernizing walls and ceilings, resurfacing countertops, adding new flooring, and updating lighting throughout. Amenities such as the pool area, the fitness center, and the clubhouse will also be enhanced.


Post Ridge Apartments is located at 595 Hicks Road and comprises 150 two- and three-bedroom units averaging 1,489 square feet each. The property is just one mile from the One Bellevue Place development, which will be one of the largest mixed-use districts in Nashville once completed.

Nashville has seen a meteoric rise in recent years, in both population and economic activity. The market is defined by a diverse economy, low costs of living and doing business, a creative culture, and a well-educated population. 

To learn more about 865 Bellevue and Post Ridge Apartments, please visit www.865bellevue.com and www.postridgeapartments.com.

Read the full article at Cision PR Newswire.



May 10, 2019

Hamilton Zanze Completes Sale of Seven65 Lofts in Utah

SALT LAKE CITY, UT – June 3, 2019 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) is pleased to announce the sale of Seven65 Lofts to De Anza Properties, a California-based residential and commercial real estate services firm. Seven65 Lofts is located in the heart of Downtown Salt Lake City, UT and has been owned by Hamilton Zanze since 2012.

Built in 1986, Seven65 Lofts is located at 765 East 400 South. The community comprises 128 units consisting of 96 one-level studios and 32 two-level lofts with high-end features like vaulted ceilings, fireplaces, and private patios or balconies. Its 73,320 net rentable square feet was 96.9% occupied at the time of sale. The community also features desirable amenities, including a resort-style swimming pool and spa, fitness center, and clubhouse.

“Seven65 was motel converted into multifamily in a great location and represented a unique opportunity for Hamilton Zanze,” said Ashlee Cabeal, Hamilton Zanze’s senior director of transactions. “During our ownership, we executed our business plan through unit upgrades and amenity improvements. We are thrilled with the outcome and will continue seeking opportunities in the Salt Lake City market.”

During its ownership, Hamilton Zanze added value to the property through renovation projects that included significant upgrades to the units and replacement of water heaters and boilers. Individual unit renovations included new lighting and plumbing fixtures, freshly-painted front doors, two-tone painted walls, and new cabinet doors. The company also added individual backyards to units, rebuilt decks, and enhanced the pool area.

Located in Downtown Salt Lake City, Seven65 Lofts offers accessible urban living only a short drive away from the state’s largest university, as well as opportunities for outdoor recreation. The community is located in close proximity to public transportation and is within walking distance of nearby shopping and dining.  Business Insider recently named Salt Lake City one of the top-50 United States cities to live in for its recreation options, and the city’s dynamic economy and growing workforce should support strong continued apartment demand and healthy occupancy rates in the years ahead.

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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 $3.7 billion in multifamily assets throughout the U.S. The company currently owns and operates 84 properties (20,058 units) across 16 states. For additional information, visit www.hamiltonzanze.com



May 2, 2019

San Francisco company pays $80M for Nashville apartments

Hamilton Zanze’s acquisition of Post Ridge Apartments was recently featured in the Nashville Post:

A San Francisco-based apartment-focused real estate investment company has paid a collective approximately $80.2 million for two Bellevue garden style rental residential properties.

Hamilton Zanze Co., which has made its initial foray into the state with the deals, paid $23.5 million for the Post Ridge Apartments at 595 Hicks Road. The seller was Atlanta-based Post Ridge Associates, which acquired the property in 1987 via a quitclaim deed deal for which Metro records show no dollar amount.

Built in 1972, Post Ridge is home to 150 units. The $23.5 million purchase price is the equivalent of about $156,700 per apartment.

Read the full article at Nashville Post, and see more coverage at Nashville Business Journal, Multi-Housing News, and Multi-Housing News.



May 2, 2019

Hamilton Zanze Acquires Townhomes in Virginia Beach

VIRGINIA BEACH, VA – May 15, 2019 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) has acquired the 414-unit Maple Bay Townhomes in Virginia Beach, VA. The purchase closed on January 25th and property management responsibilities have been transferred to Mission Rock Residential.

The community was built in 1971 and is located in close proximity to Interstate 264 and the Virginia Beach Expressway, providing immediate access to retail, entertainment, and employment opportunities. The community offers a mix of large one, two, and three-bedroom units, ranging from 1,000 to 1,400 square feet. Each unit is two-stories and includes garage space and private a backyard or patio area.

“We are actively looking to grow our presence in the Virginia Beach metro, and Maple Bay presented an opportunity to buy a well-located asset with 1,200 square foot average units,” said David Nelson, Hamilton Zanze’s senior director of acquisitions. “Due to high home prices in the area, we believe large townhome rental units will serve an underserved demographic.”

Units feature air conditioning, new lighting fixtures, black appliances, and updated kitchen cabinets. HZ plans to update units with the new granite countertops, faux wood flooring, and tile backsplashes, and add washers and dryers to select units.

Community amenities include a clubhouse, fitness center, swimming pool, dog park, playground, carwash station, and digital package concierge service. Plans for upgraded community amenities include fresh landscaping and pool grounds, and interior clubhouse updates.

The market’s high median home value of $260,840 creates a tailwind for strong apartment demand in the Virginia Beach East submarket. The submarket recorded zero new supply in Q1 2019, with no new supply forecasted for 2019. Metro-wide occupancy is solid at 95.4%.

The region’s median income is 6% higher than the U.S. average. The market is bolstered by diverse employment opportunities in nearby Norfolk, which is home to thriving shipping, military, data, and financial management industries.

To learn more about the Maple Bay Townhomes, please visit www.maplebaytownhomes.com.

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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 $3.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 85 properties (20,186 units) across 16 states. For additional information, visit www.hamiltonzanze.com.



April 16, 2019

SF-based real estate group makes second KC acquisition in as many months

Hamilton Zanze was recently featured in the Kansas City Business Journal:

Hamilton Zanze & Co., a San Francisco-based real estate investment firm has acquired its second Kansas City-area apartment complex since March.

The company bought Cornerstone Apartments in Independence in a deal that closed on April 4. Hamilton Zanze did not disclose the price or the seller.

Located at 3950 S. Jackson Drive near Interstates 70 and 470, the 420-unit complex was built in 2004 and includes one- and two-bedroom units. The company did not disclose the occupancy for Cornerstone Apartments. The overall vacancy rate in the Independence submarket was 3.7 percent in the fourth quarter, with an average rent of $739, according to NorthMarq.

Founder and CEO Mark Hamilton told the Kansas City Business Journal that the company has been looking at the market for several years and finally found the right opportunities. Those two acquisitions may be followed by additional deals, he said.

“We certainly have remaining interest in picking up more properties in KC,” Hamilton said.

Read the full article at bizjournals.com, and see more coverage at Connect Chicago, Multi-Housing News, and RE Business Online.