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HZ News Press Release

October 9, 2019

Hamilton Zanze Acquires Rivertop Apartments in Nashville

NASHVILLE – October 9, 2019 – 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.

“Rivertop Apartments provided a great opportunity to buy a brand-new property in a great submarket,” said Dave Nelson, Hamilton Zanze’s managing director of transactions. “We are confident that the property’s contemporary vintage, amenity package, and prime location will provide our residents with the quality of life offered in Nashville’s urban core. We are excited about our continued growth in the region.”

The 224-unit luxury apartment community offers large one-, two-, and three-bedroom units ranging between 878 square feet and 1,418 square feet. Rivertop features state-of-the-art amenities and high-end interiors that include granite countertops, ceramic tile backsplashes, stainless steel appliances, wood-style flooring, and private balconies.

Community amenities include a resident clubhouse, resort-style swimming pool, 24-hour fitness center, bocce ball court, dog park, pet spa, and outdoor grills and firepits.

Nashville benefits from a well-established economy driven by a dynamic private sector and a qualified workforce stemming from the presence of top regional universities like Vanderbilt University, Fisk University, and Middle Tennessee State University.

Tennessee’s capital city is known for its music industry, but its educated talent pool and affordable operating costs also make it a top destination for relocating and expanding companies including Gap, LG Electronics, Bridgestone, and Ernst & Young. Continued investments in Nashville resulted in over 15 million annual visitors and $7 billion in visitor spending in 2018.

To learn more about the Rivertop Apartments, please visit www.missionrockresidential.com/apartments/tn/nashville/rivertop/.

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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 $4 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 82 properties (19,826 units) across 15 states. For additional information, visit www.hamiltonzanze.com



September 27, 2019

Hamilton Zanze Sells The Village at Desert Lakes in Las Vegas

Las Vegas, NV – September 27, 2019 – Hamilton Zanze, a San Francisco-based real estate investment firm, is pleased to announce the sale of The Village at Desert Lakes in Las Vegas, NV. The property is located in The Lakes, a master-planned community in a highly desirable West Las Vegas neighborhood. Hamilton Zanze owned the property for seven years and sold the property on September 26, 2019.

Village at Desert Lakes was built in 1990 at 9155 West Desert Inn Road. The 184-unit, 15-building community features an indoor lap pool and basketball court, attached garages, and large one-, two-, and three-bedroom floor plans averaging 1,024 square feet.

“We are thrilled with our execution with The Village at Desert Lakes,” said David Nelson, Hamilton Zanze’s managing director of transactions. “We were able to raise net operating income significantly through successful unit upgrades and expense control, allowing us to take out a supplemental loan to expand our renovation scope. This is a great outcome for HZ and our investors.”

Hamilton Zanze rebranded the property from Broadstone Desert Lakes to The Village at Desert Lakes in 2012. During their ownership, the company executed a value-add campaign including pool area upgrades, leasing office and clubhouse renovations, new signage, landscaping, and unit renovations. Units were updated with stainless steel appliances, grey cabinetry, quartz countertops, new light fixtures and carpet, and faux wood flooring.

Las Vegas hosts over 40 million visitors annually for its entertainment and gaming industries, and there are currently about $15 billion in construction projects planned in the metro area, including the Madison Square Garden Sphere, Raiders Stadium, a Las Vegas Convention Center expansion, and The Las Vegas Medical District and University of Nevada, Las Vegas Medical School. The Greater Las Vegas economy continues to grow as a result of its high quality of life, strong employment and population growth, and continued investments in the region.

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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 $4 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 81 properties (19,602 units) across 15 states. For additional information, visit www.hamiltonzanze.com.



September 6, 2019

Hamilton Zanze Acquires Abbotts Run Apartments In Alexandria

Alexandria, VA – September 6, 2019 – National real estate investment firm Hamilton Zanze has acquired the Abbotts Run apartment community in Alexandria, Virginia (Washington D.C. market). The purchase closed on August 29th and property management responsibilities have been transferred to Mission Rock Residential.

Abbotts Run was built in 1988 and is located near the Potomac River in a desirable school district near abundant employment opportunities in Washington D.C. The community offers a mix of one- and two-bedroom units ranging from 693 to 1,352 square feet. Select units are loft style.

Northern Virginia is experiencing substantial growth, and Abbotts Run is strategically located to serve the market,” said David Nelson, Hamilton Zanze’s senior director of acquisitions. “Abbotts Run is an excellent example of what we are looking to acquire, as it offers immediate scale in a strong submarket. We will continue to look for well-located, large assets throughout the Washington D.C. metro.”

Units feature black, hard-surface countertops, tile backsplashes, stainless steel appliances, faux wood flooring, brushed nickel hardware, and in-unit washers and dryers. Community amenities include a 24-hour clubhouse, game room, resort-style swimming pool, playground, tennis and volleyball courts, and outdoor picnic and grilling stations. A private car washing station is also available for resident use.

The majority of units were renovated by the seller. HZ plans to renovate the 17 remaining classic units and update the community’s outdoor lighting and clubhouse space.

Abbotts Run is located in one of the metro’s most affluent submarkets, South Fairfax County, with median home income and median home values more than twice the U.S. average. The county’s economy is centered predominately around the professional services and technology industries, in addition to a thriving higher education market. Amazon’s new HQ2, located only 14.4 miles from Abbotts Run, is expected to create 25,000 new jobs and over $4.3 billion in economic impact.

To learn more about Abbotts Run, please visit www.abbottsrunalexandria.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 81 properties (19,538 units) across 15 states. For additional information, visit www.hamiltonzanze.com



August 7, 2019

Hamilton Zanze Sells The Enclave at 1550 Apartments in San Antonio

San Antonio, TX – August 7, 2019– Multifamily real estate investment firm Hamilton Zanze is pleased to announce the sale of The Enclave at 1550 Apartments in San Antonio, Texas, located just north of downtown San Antonio. The deal closed on August 2, 2019.

The high-rise apartment community comprises 127 one and two-bedroom units totaling 154,413 square feet.

“We traditionally acquire garden style communities, but Enclave 1550 was a unique opportunity for Hamilton Zanze,” said Anthony Ly, Hamilton Zanze’s senior director of dispositions. “The property is the only high rise in this particular pocket of San Antonio (and one of the few in our portfolio) with amazing downtown views. We were able to attract tenants looking for this product type without having to pay the downtown prices. We are thrilled with the execution of our business plan here and outcome.”

The Enclave at 1550 was built in 1996 and is located eight miles north of downtown San Antonio. The units were renovated during Hamilton Zanze’s ownership with improvements including new appliances, fresh paint, upgraded flooring, kitchen countertop resurfacing, new kitchen and bathroom cabinets, and updated hardware and lighting fixtures.

Shared community spaces were enhanced with new landscaping, updates to the pool and BBQ areas, modern signage, and renovated interiors in the shared clubhouse and business center space. Other improvements included fresh exterior paint and new roofing for the long-term benefit of the building’s waterproofing.

The apartment community’s proximity to major San Antonio employment corridors, transportation, and retail continue to attract new residents to the area. Major area employers include the San Antonio International Airport, South Texas Medical Center, USAA, Fort Sam Houston, and AT&T’s regional office. The San Antonio market continues attract expanding companies due to its geographic location, economic stability, and growing 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 $3.9 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 82 properties (19,655 units) across 15 states. For additional information, visit www.hamiltonzanze.com



July 24, 2019

Hamilton Zanze Acquires The Reserve at Ballenger Creek Apartments in Maryland

WASHINGTON – July 24, 2019 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) has acquired The Reserve at Ballenger Creek Apartments in Frederick, MD (Washington metropolitan area). The purchase closed on July 10th, and property management responsibilities have been transferred to Mission Rock Residential.

The community, built in 2000, is located near Interstates 70 and 270, providing direct access into Washington D.C. and its surrounding markets. The community offers a mix of one-, two-, and three-bedroom units ranging from 750 to 1,150 square feet in size. Each unit is equipped with its own private balcony or patio area.

“The Reserve at Ballenger Creek presented an opportunity to buy a well-maintained asset in a strong market where we can continue growing our presence,” said David Nelson, Hamilton Zanze’s managing director of acquisitions. “The property’s vintage, size, location, and amenity base are aligned with our vision, and we will continue looking for opportunities in the Mid-Atlantic.”

Select units feature vaulted ceilings and new carpeting, as well as open kitchen layouts with maple cabinetry, modern appliances, built-in wine racks, and walk-in pantry closets.

Community amenities include a clubhouse with free Wi-Fi, a fitness center and cardio theater, and landscaped courtyards and playgrounds. The Reserve at Ballenger Creek is set apart by its unique community amenities, including car care center and dog park. 

HZ acquired the property with plans to renovate units with quartz countertops, black appliances, new tile backsplashes, plank flooring, new lighting and plumbing fixtures, and more. In addition, exterior siding, trim, paint, and carpentry across the eight total buildings will be updated, and a package locker system will be installed.

Frederick County has experienced strong, long-term economic growth, and regional employers have been successful in attracting and retaining its millennial population. In 2018, Amazon announced the construction of a new corporate headquarter in Arlington, VA (48 miles from the property), comprising 2.1 million square feet and expected to accommodate 25,000 employees. Further, The Reserve is located near several large employers, including Leidos Biomedical Research, Frederick Regional Health Systems, and the area’s largest employer, Fort Detrick.

To learn more about the Reserve at Ballenger Creek, please visit www.ballengercreekapts.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 82 properties (19,665 units) across 15 states. For additional information, visit www.hamiltonzanze.com



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 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 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

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.