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HZ News San Francisco company pays $80M for Nashville apartments

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.