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HZ News Press Release

October 29, 2018

Hamilton Zanze Acquires Copper Mill Apartments in Virginia

RICHMOND, VA. – October 29, 2018 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) has acquired the 192-unit Copper Mill Apartments in Richmond, Virginia, marking the firm’s fourth acquisition in the state. The purchase from seller JRK Property Holdings closed October 24.

The 158,568 square foot community was built in 1987 and reported a 99% occupancy rate in July 2018. Copper Mill is located at 3400 Copper Mill Trace in Richmond’s northwestern suburb of Henrico and offers a mix of one- and two-bedroom units. The site consists of 12 individual, garden-style buildings on 13.3 acres of land. Units range from 697 to 1,010 square feet.

“Copper Mill represented an opportunity to buy a well-located, value-add asset at a favorable cap rate,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “We are excited to continue expanding our presence in the Richmond MSA and will continue to look for further opportunities this year.”

The community is adjacent to two small lakes and features robust natural amenities including a trail system, a shaded picnic area, and outdoor tennis and sand volleyball courts. A 24-hour fitness center and beautiful outdoor pool are also available to community residents.

HZ plans to execute a large-scale community improvement program that will include a broad renovation of 25% of the units to include stone counters, backsplashes, lighting fixtures, cabinet pulls, flooring, and replacement kitchen cabinets. An additional 50% of the units will receive a lighter renovation with resurfaced counters and the addition of new appliances and cabinet faces. The company will also add a dog park and additional enhancements to the community’s amenity package.

Property management responsibilities will be transitioned to Mission Rock Residential, HZ’s Denver-based affiliated company.

Copper Mill is conveniently located just 12 miles outside of Virginia’s capital city. The Richmond metropolitan area is continually recognized as a strategic center for commerce and innovation due to its low business costs, business-friendly climate, and well-educated workforce. To learn more about the Copper Mill Apartments, please visit www.missionrockresidential.com/apartments/va/richmond/copper-mill.

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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 $3.3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 82 properties (19,428 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



October 14, 2018

Hamilton Zanze Acquires Keystone Apartments in Denver Metro

DENVER – October 12, 2018 – Real estate investment firm Hamilton Zanze (HZ) has acquired 208-unit Keystone Apartments in Northglenn, Colorado. The $39.5 million purchase closed October 11th. ARA, A Newmark Company represented the seller – Aukum Group – in the transaction.

Built in 1986, Keystone Apartments is located at 12150 Race Street in Northglenn, a suburban market just 15 minutes north of Downtown Denver and 20 minutes southeast of Downtown Boulder. The property is just one mile west from the planned 124th Avenue/Eastlake light rail station, which is scheduled to open in 2019.

“Keystone Apartments presented an opportunity to buy a well-located, light value-add deal,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “We love the Northglenn submarket and are excited about continuing our expansion in the Denver metro area.”

The community received extensive upgrades in recent years and is a unique, modern living option in Denver’s Northglenn submarket. The property’s 157,004 net rentable square feet includes one- and two-bedroom unit floorplans, with an emphasis on one-bedroom units. Community amenities include mountain views, a resident clubhouse, a fitness center and indoor multi-sport court, a pool, and outdoor barbecue areas. The apartment units feature vaulted ceilings, walk-in closets, private balconies and patios, and stainless-steel appliances.

HZ plans to expand the community’s amenity package by adding a dog park, upgrading fitness equipment, improving landscaping, and potentially updating the athletic facilities. Unit interiors will be upgraded with new countertops, fixtures, cabinet pulls, and flooring. Property management responsibilities will be transitioned to Mission Rock Residential, HZ’s affiliated, Denver-based property manager.

The Denver metropolitan area is continually recognized for its labor force quality and low cost of doing business, which makes it an attractive market for relocating companies. Northglenn is located in Denver’s Adams County, the fifth most populous county in Colorado. Adams County boasts a diverse industry mix of aerospace, energy, healthcare, logistics and transportation, manufacturing, and wholesale trade. Keystone is also in close proximity to a new 2.4 million square foot Amazon fulfillment center, which is expected to add 1,500 new jobs to the market. To learn more about the Keystone Apartments, please visit www.rentkeystoneapartments.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 $3.6 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 81 properties (19,220 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



September 24, 2018

Hamilton Zanze Purchased The Quarters at Towson Town Center in Second Joint Venture With Cantor Fitzgerald

BALTIMORE – September 24, 2018 – Real estate investment firm Hamilton Zanze (HZ), in partnership with Cantor Fitzgerald, L.P., (“Cantor Fitzgerald”), recently acquired The Quarters at Towson Town Center residential community in Towson, Maryland. The purchase price was $100 million.

The 430-unit community was built in 2009 on just under six acres of land and had a 94% occupancy rate as of July. This is HZ’s second acquisition in Maryland, and, along with recent acquisitions in Virginia and Connecticut, signals the company’s strong expansion of investment in the East Coast region.

“The Quarters at Towson Town Center fits our investment criteria perfectly — a large asset above a 5% cap rate in a growing market,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “We look forward to continuing to acquire high-quality real estate at good capitalization rates in the Mid-Atlantic and throughout the country in the second half of the year.”

Ken Carpenter, managing director for Cantor Fitzgerald, added, “This is our second acquisition with Hamilton Zanze this year. Our combined real estate investing experience creates synergies that support our goal of investing in high-quality properties, in strong markets, at favorable cap rates.”

The Quarters at Towson Town Center is located at 960 Southerly Road in Towson, a suburban market just 10 miles north of Downtown Baltimore. The community is designed with a highly urban, walkable approach to align with the greater Towson Town Center’s design. Its 477,939 net rentable square feet comprises one-, two-, and three-bedroom units, with a heavy emphasis on two-bedroom units. Community amenities include a resident clubhouse, fitness center, business center, theatre room, pool, and large outdoor courtyards.

HZ and Cantor Fitzgerald plan to expand The Quarters’ amenity package and will execute improvements on a number of deferred maintenance items, investing in the long-term value of the community. Property management responsibilities will be transitioned to Mission Rock Residential, HZ’s Denver-based affiliate company.

The Quarters is located in the Baltimore metro area, Maryland’s second-largest job center and the largest U.S. seaport in the Mid-Atlantic. Baltimore is closer to the major Midwestern markets than any other major seaport on the East Coast, and more than 60 federal agencies and research labs are located within 30 miles of the city, bringing substantial federal spending and jobs to the area.

To learn more about the Quarters at Towson Town Center, please visit http://www.quarterstowson.com/

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ABOUT HAMILTON ZANZE
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment firm that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 83 properties (19,304 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



September 22, 2018

Hamilton Zanze Acquires Westminster’s Environs Residential Rental Community

DENVER – August 17, 2018 – Real estate investment firm Hamilton Zanze (HZ) has acquired Environs Residential Rental Community in Westminster, Colorado. The $82 million purchase closed August 31st.

The unique community is spread across 33 acres of land and had a most recent occupancy rate of 92% at the time of sale. Offering 318 rental units, the community is a mix of market-rate single-family houses, patio homes, townhomes, and condominiums. The purchase brings the firm’s total Colorado portfolio to 15 properties, with nine of those in the Metro Denver area.

“Environs presented an opportunity to buy a great asset in a strong submarket,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “With all of the demand for single family homes today, we believe this property’s unique mix of condominiums, townhomes, patio homes, and houses will appeal to a wide renter pool around the region.”

Built in 1984, Environs Residential Rental Community is located at 3323 W 96th Circle in Westminster. The community is designed around a lush landscape, with easy walkability in mind. Its 383,653 net leasable square feet includes numerous amenities including an updated clubhouse, a 24-7 fitness center, two pools, a basketball court, and outdoor barbecue areas.

HZ purchased the property from Seagate Colorado Partners, LLC, who owned it for three years. Select units have been upgraded with black or stainless-steel appliances, new cabinetry, new lighting packages, refinished countertops, and new vinyl plank flooring. HZ plans to undertake similar upgrades to the remaining 119 units. Property management responsibilities will be transitioned to Mission Rock Residential, HZ’s Denver-based affiliate.

The Metro Denver market is home to one of the nation’s most educated workforces and a diverse industry mix that include the aerospace, healthcare, technology, and manufacturing sectors. Westminster, a northwest suburb of Denver just 10 miles from the Colorado State Capitol, is the seventh most populous city in Colorado. The community is located along the U.S. 36 Tech Corridor and is well-positioned to attract both the Denver and Boulder workforce populations.

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ABOUT HAMILTON ZANZE
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment firm that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 83 properties (19,304 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



September 6, 2018

Hamilton Zanze Sells Edgewood Park Apartments in Salt Lake City

Salt Lake City, UT – September 6, 2018 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) sold Edgewood Park Apartments in Salt Lake City, Utah to Los Angeles-based ARB Investments.

Edgewood Park Apartments is located 13 miles south of Salt Lake City in the Cottonwood Heights district. Situated along I-215, the property is located near major retail, dining, entertainment and employment centers. HZ purchased the property in 2011.

Built in 1994, Edgewood Park Apartments comprises 64 one- and two-bedroom units, totaling 62,928 rentable square feet. HZ recorded an impressive occupancy rate of 100% at the time of the disposition due to significant enhancements and improved market conditions during the time of ownership.

“Edgewood is our seventh Utah disposition in the last 36 months,” said Ashlee Cabeal, HZ’s senior director of dispositions. “We are proud to have been able to capitalize on the strong Salt Lake City market in recent years, achieving a great outcome for our investors.”

During its ownership, HZ added significant value to the property through unit renovations, which included new flooring, two-tone paint, new kitchen and bath lighting fixtures, resurfaced countertops, and new blinds. Select units were enhanced with painted cabinetry, upgraded appliances and new doors.

Salt Lake City was recently named one of the 50 best U.S. cities to live in by Business Insider for its variety of outdoor activities and tremendous economic growth. The state had one of the fastest-growing and most diverse economies in the nation in 2017, supported by a net in-migration of over 100,000 people in the last four years. Strong market conditions and favorable forecasts for population and job growth provided HZ an opportune time to sell the property.

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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 (19,304 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



September 6, 2018

Hamilton Zanze Completes Sale of Bradford Park Apartments in Washington

SEATTLE, WA – September 6, 2018 – San Francisco-based real estate investment firm Hamilton Zanze (HZ), has sold Bradford Park Apartment Homes in Lynnwood, Washington. California-based Freshwater Investments purchased the property for $24.6 million.

Bradford Park Apartment Homes is located just three miles from the Puget Sound coast and within a 30 minute drive of downtown Seattle. HZ purchased the property in December 2010.

Built in 1989, Bradford Park is located at 16604 48th Avenue West and comprises 100 one-, two-, and three-bedroom units totaling 94,640 square feet. HZ recorded a 96% occupancy rate at the time of the disposition.

“Bradford Park was a great property for us,” said Ashlee Cabeal, senior director of dispositions for Hamilton Zanze. “This deal really showcases Hamilton Zanze’s ability as a multifamily operator. We are glad to have achieved such a great outcome for our investors.”

During its eight years of ownership, HZ added significant value to the 11-building property through unit upgrades that included new appliances and cabinetry and upgraded flooring, lighting, hardware, and paint. HZ completed window replacements, roofing repairs, and significant landscaping upgrades throughout the property.

Well-situated just north of the Seattle metro area, Lynnwood has experienced significant rent growth in the past 36 months. The community is located 16 miles north of Downtown Seattle and a popular home for Seattle commuters.

The Seattle metro area continues to outpace the U.S. in terms of economic growth. Amazon, Microsoft, and Boeing are locally headquartered, which continues to attract other top employers to the area. The greater Puget Sound region benefits from steady population growth, strong post-recession economic recovery, and an increasingly diverse economy.

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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 82 properties (19,284 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



September 5, 2018

Hamilton Zanze Sells Portfolio of Three Apartment Communities in Austin

AUSTIN, TX – September 5, 2018 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) and its joint venture partner sold a portfolio of three apartment communities in Austin, Texas, including the Broadmoor Apartments, Chesapeake Apartments, and the Falls on Bull Creek. Houston-based Nitya Capital purchased the portfolio.

Totaling nearly 500,000 net rentable square feet over 668 units, the communities are located in close proximity to one another in Northwest Austin near many major regional employers, US-183 Hwy, FM 620, and Toll 45.

All three apartment properties were built in the mid-1980’s. HZ purchased the communities in 2015 and held them for the past three years. The properties maintained high occupancy rates, ultimately landing at 94% occupied at the time of sale.

“We are thrilled with the outcome of the deal,” said Ashlee Cabeal, HZ’s senior director of transactions. “The dynamic Austin market presented many challenges as tenant needs and wants fluctuated, but it also presented an opportunity to pivot from the initial business plan and execute unit upgrades that included granite countertops, backsplashes, and Dwelo smart home systems. We believe we captured the value of these properties and achieved a great result for our partner and investors.”

The Austin metro area has outpaced the U.S. for several years in terms of economic growth and employment, contributing $1.8 trillion to the local economy in 2017. The market boasts a 2.9% unemployment rate, one of the lowest in the nation. The city consistently places on the top of ‘Best Places to Live’ lists, which has contributed to its strong occupancy rate.

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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 82 properties (19,248 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



August 31, 2018

Hamilton Zanze Acquires Westminster’s Environs Residential Rental Community

DENVER – August 17, 2018 – Real estate investment firm Hamilton Zanze (HZ) has acquired Environs Residential Rental Community in Westminster, Colorado. The $82 million purchase closed August 31st.

The unique community is spread across 33 acres of land and had a most recent occupancy rate of 92% at the time of sale. Offering 318 rental units, the community is a mix of market-rate single-family houses, patio homes, townhomes, and condominiums. The purchase brings the firm’s total Colorado portfolio to 15 properties, with nine of those in the Metro Denver area.

“Environs presented an opportunity to buy a great asset in a strong submarket,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “With all of the demand for single-family homes today, we believe this property’s unique mix of condominiums, townhomes, patio homes, and houses will appeal to a wide renter pool around the region.”

Built in 1984, Environs Residential Rental Community is located at 3323 W 96th Circle in Westminster. The community is designed around a lush landscape, with easy walkability in mind. Its 383,653 net leasable square feet includes numerous amenities including an updated clubhouse, a 24-7 fitness center, two pools, a basketball court, and outdoor barbecue areas.

HZ purchased the property from Seagate, who owned it for four years. Select units have been upgraded with black or stainless-steel appliances, new cabinetry, new lighting packages, refinished countertops, and new vinyl plank flooring. HZ plans to undertake similar upgrades to the remaining 119 units. Property management responsibilities will be transitioned to Mission Rock Residential, HZ’s Denver-based affiliate.

The Metro Denver market is home to one of the nation’s most educated workforces and a diverse industry mix that include the aerospace, healthcare, technology, and manufacturing sectors. Westminster, a northwest suburb of Denver just 10 miles from the Colorado State Capitol, is the seventh most populous city in Colorado. The community is located along the U.S. 36 Tech Corridor and is well-positioned to attract both the Denver and Boulder workforce populations.

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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 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 82 properties (19,284 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



August 6, 2018

Hamilton Zanze Sells Pointe East Apartments in Washington

TACOMA, WA – August 6, 2018 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) recently sold Pointe East Apartments in Fife, Washington. California-based OpenPath Investments purchased the property for $21 million.

Pointe East Apartments is located just south of Seattle in the suburban community of Fife. HZ purchased the property in March 2015.

Built in 1986, Pointe East Apartments is located at 2524 62nd Ave, and consists of 124 one- and two-bedroom units, totaling 110,542 square feet. HZ recorded an impressive occupancy rate of 99% at the time of the disposition. With a sale price of $169,355 per unit, the opportunistic transaction provided a great opportunity to deliver value for investors just three years after the group’s initial acquisition.

“Pointe East was a tremendous asset for us,” said Ashlee Cabeal, HZ’s senior director of dispositions. “We were able to execute on our business plan and achieve a great outcome for our investors.”

During its ownership, HZ added value to the property through turnkey unit renovations including updated cabinetry, new flooring, and upgraded appliances for all units. In addition, the firm performed significant renovations to the shared community clubhouse and fitness center.

Well-situated in proximity to Tacoma and Seattle, Fife has grown alongside Tacoma’s thriving Port operations. Fife offers easy access to the region’s rail infrastructure, is just a 20-minute drive from the Seattle-Tacoma International Airport, and is a 30-minute drive from Downtown Seattle.

The Seattle metro area continues to outpace the U.S. in terms of economic growth and was ranked third on Forbes’ list of “Best Places for Business and Careers” in 2017. The presence of headquarters for major companies like Amazon, Microsoft, and Boeing continues to draw top employers to the area. In addition, the entire Puget Sound region benefits from population growth, a strong post-recession economic recovery, and an increasingly diverse economy.

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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 (19,304 units) across 13 states. For additional information, visit www.hamiltonzanze.com.



June 15, 2018

Hamilton Zanze Sells Seasons at Pebble Creek in Salt Lake City

SALT LAKE CITY, UT – June 15, 2018 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) is pleased to announce the sale of Seasons at Pebble Creek Apartments to DiNapoli Capital Partners, a California-based real estate investment firm. The apartment community is located in the northern heart of Salt Lake City, in close proximity to the city’s international airport. HZ originally purchased the property in January 2007.

Seasons at Pebble Creek is located at 1616 West Snow Queen Place and offers 300 rentable units across its 263,000 enclosed square feet. Units range from one to four bedrooms in size and were upgraded during HZ’s ownership. They each offer private outdoor patios or balconies as well as large, walk-in closets in each bedroom.

The community features two pools and parks, an inviting clubhouse and fitness center, and design well-suited to its mountain setting with exterior stone and natural wood finishes. HZ also renovated the clubhouse during its ownership.

“Seasons at Pebble Creek was one of our first Utah assets,” said HZ President & Chief Investment Officer Kurt Houtkooper. “Two years ago, with our loan maturity, we saw an opportunity to further enhance the asset and capitalize on the thriving Salt Lake City market. Using bridge debt, we carried out a unit upgrade program and renovated the clubhouse and leasing office.”

“We are very pleased with our execution and ability to recognize further value in the property,” he continued. “This is a great outcome for our investors and continues our strong track record in Utah.”

Salt Lake City has outperformed almost all other rental markets in the active Western United States over the past several years. Utah has a low unemployment rate of 3.5% and a high year-over-year job growth at 2.5%. Assets like Seasons at Pebble Creek will be nearly impossible to replicate, especially in the downtown Salt Lake City district where land is locked by the Great Salt Lake and the Wasatch Mountains, some of the most attractive quality of life assets attracting residents to the community.

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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 $3.4 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently