Hamilton Zanze’s acquisition of Rivertop Apartments was recently featured in the Nashville Business Journal.
A West Nashville apartment complex has been sold for $57.1 million.
Nashville Post reports that San Francisco-based Hamilton Zanze and Co. bought the RiverTop apartments, which are located at 5820 River Road, near the Cumberland River. With 224 units, it represents a purchase price of about $255,000 per unit.
Read the full article at the Nashville Business Journal.
Hamilton Zanze’s acquisition of Rivertop Apartments was recently featured in the Cision PR Newswire.
San Francisco-based real estate investment firm Hamilton Zanze (HZ) partnered with Cantor Fitzgerald to purchase the Rivertop Apartments in Nashville, TN. The transaction closed on October 4th, and property management responsibilities have been transferred to Mission Rock Residential.
The property was recently developed by Birmingham-based LIV Development and was completed in 2019. The property is located at 5800 River Road in West Nashville, and its proximity to the Cumberland River provides scenic views, access to walking trails, and options for outdoor recreation including kayaking, canoeing, and fishing. Downtown Nashville is a short 20-minute drive from the property.
Read the full article at the Cision PR Newswire.
Hamilton Zanze was recently featured in the Nashville Post for their recent acquisition of Rivertop Apartments.
Read the full article at the Nashville Post.
HZ is proud to congratulate Patricia Hutchison, president of HZ’s property management partner Mission Rock Residential, on being named the 2019 Multifamily Executive of the Year by Multifamily Executive Magazine.
Multifamily Executive writes:
Launched in 2012, Mission Rock has 675 employees and manages more than 25,000 units in 15 states. It is undergoing rapid growth, onboarding 1,900 units in the past six months alone. “When we decided to create Mission Rock, my partner, Mark Hamilton, and I both knew she would make a highly qualified candidate, able to take the company far,” says Tony Zanze, co-founder of Hamilton Zanze. “At the time, we had no idea just how far and how quickly that would happen.”Read more at MultifamilyExecutive.com
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.
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.
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.
Read the full article at Cision PR Newswire.
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.
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.
Hamilton Zanze’s acquisition of The Boulders at Overland Park was recently covered by Multi-Housing News:
Hamilton Zanze has acquired Metcalf Village Apartments the Kansas City suburb of Overland Park, Kan., from a private owner. The 272-unit apartment community, which will be rebranded The Boulders at Overland Park Apartments, changed ownership for $40.4 million, according to data provided by Yardi Matrix.
Property management responsibilities will be assumed by Mission Rock Residential, a Hamilton Zanze affiliate company expanding on its Midwestern presence.
Located at 16201 Travis St., the property is situated close to Highway 69 and within the Blue Valley School District, one of the best-performing school districts in the nation.
“This community represented a great opportunity to buy new, stabilized product below replacement cost thanks to robust local market momentum,” said David Nelson, Hamilton Zanze managing director of acquisitions, in prepared remarks. “Overland Park has been a target market for our acquisitions team, and we are excited to have found a perfect acquisition to fit our criteria.”