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HZ News Press

October 16, 2020

Hamilton Zanze Sells Fountains at Steeplechase in Texas

DALLAS, TX – October 16, 2020 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Fountains at Steeplechase in Plano, TX (Dallas market). The firm purchased the garden-style property in 2013 and the sale closed on October 9, 2020.

Fountains at Steeplechase was built in 1985 and is located at 7301 Alma Drive. During their ownership, Hamilton Zanze replaced the roof, upgraded windows, improved resident amenities, including the installation of a dog park, and added a model unit to improve leasing efforts and increase rental rates.

The property comprises 368 units with upgraded appliances, new flooring, resurfaced countertops, and upgraded hardware. Steeplechase’s one- and two-bedroom units average 857 square feet for a total of 315,368 rentable square feet. Community amenities include a clubhouse and fitness center, outdoor pool and fire pit, business center, playground, and dog park.

“We acquired the property in 2013 from Aimco and carried out major renovations and unit upgrades,” said Anthony Ly, director of dispositions at Hamilton Zanze. “We initially implemented a business plan that focused on stabilizing occupancy and operations. However, Plano’s incredible growth during our hold period allowed us to capitalize on unit upgrades to boost rents.”

Fountains at Steeplechase is located in the Plano submarket of the Dallas/Fort Worth metro area. Despite stay-at-home orders brought on by the coronavirus pandemic, occupancy in Plano registered 94.5% and demand in the Dallas metro outpaced supply 9,614 units to 6,936 units as of Q3 2020, according to RealPage Analytics. After the effects of the pandemic subside, economic and job growth are projected to continue in Dallas. Fountains at Steeplechase is located along U.S. Route 75, providing direct access to major employers and entertainment in Downtown Dallas.

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ABOUT HAMILTON ZANZE
Hamilton Zanze 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 $4.7 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 89 properties (21,380 units) across 15 states. For additional information, visit www.hamiltonzanze.com

 



October 12, 2020

Aaron Wessner Joins Hamilton Zanze as Managing Director

San Francisco, CA – October 12, 2020 – Aaron Wessner has joined Hamilton Zanze Real Estate Investments (HZ) as a Managing Director.

“Aaron’s experience and background will be an asset to HZ as we expand our East Coast footprint,” said HZ Chief Investment Officer and President Kurt Houtkooper. “His skills and knowledge are a unique fit for our company and goals for growth, and we look forward to his leadership at HZ.”

As a senior member of the capital markets team, Wessner will be working with HZ’s various equity and debt partners. Based in New York City, he will lead HZ’s East Coast presence by coordinating acquisitions, dispositions, and client relationships in the eastern United States.

“I’m excited to join Mark, Tony, Kurt, and team in the continued growth and success of Hamilton Zanze,” Wessner said. “I look forward to working with our current and future investment partners in establishing the firm’s East Coast presence.”

Wessner’s background includes over 20 years of institutional commercial real estate experience. Prior to joining HZ, he was a Managing Director with New York-based Cantor Fitzgerald, where he focused on equity and debt capital markets, acquisitions of multifamily and other real estate assets, and structured finance. Prior to Cantor, he worked within Merrill Lynch’s Real Estate Capital Markets group as well within the Commercial Mortgage-Backed Securities (CMBS) groups of Fitch Ratings and Ernst & Young.

He received his M.B A. from the University of Florida and a Bachelor of Arts from the University of Miami.

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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 $4.7 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 89 properties (21,380 units) across 15 states. For additional information, visit www.hamiltonzanze.com



August 20, 2020

Hamilton Zanze Sells Highpointe Park Apartment Homes in Colorado

DENVER, CO – August 20, 2020 – San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Highpointe Park Apartment Homes in Thornton, CO (Denver metro market). The firm purchased the garden-style property in 2016 and the sale closed on August 13, 2020.

Highpointe Park Apartment Homes was built in 2013 and is located at 9701 Pearl Street. The property comprises 220 units across eight residential buildings with fully equipped kitchens, stainless steel sinks, patios, and balconies. Highpointe Park’s one-, two-, and three-bedroom units average 940 square feet for a total of 206,895 rentable square feet. Community amenities include a clubhouse and leasing center, fitness center, outdoor pool and fireplace, spa, and a dog park.

“Since acquiring the property in 2016, we were able to increase occupancy and optimize rents,” said Anthony Ly, director of dispositions at Hamilton Zanze. “We are thrilled with the execution of the sale in this uncertain environment. The marketing process was unique in that it required minimal disruption to residents. We are grateful for the CBRE Denver team’s efforts, which helped us deliver a great outcome to our investors and add to our strong Colorado track record.”

During their ownership, Hamilton Zanze installed energy-saving LED lights and improved resident amenities, upgrading the dog park and adding barbecue grills and cabanas.

Highpointe Park is located in Denver’s Thornton/Northglenn submarket, where rent growth has been constant due to the submarket’s affordability and lack of new construction. Colorado was one of the first states to lift stay-at-home orders due to COVID-19, and the economy has started to rebound with unemployment claims decreasing. Highpointe is just 11 miles north of Downtown Denver, home to some of the metro’s largest employers, including Boeing, Pepsi, and Kraft.

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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 $4.6 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 89 properties (21,380 units) across 15 states. For additional information, visit www.hamiltonzanze.com



July 7, 2020

Podcast: Discussing Green Initiatives & 1031 Exchanges with The Real Estate CPA Podcast

Our CEO Mark Hamilton and CFO Ashlee Cabeal had a great time discussing our approach to multifamily value-add investing, integrating property management, reducing expenses through green initiatives, and performing 1031 exchanges.

Check out the full episode below and visit The Real Estate CPA for notes from the show and more episodes of the podcast.



June 5, 2020

Hamilton Zanze’s Statement Regarding Racial Inequality and Community Unrest

Recent weeks have been some of the most challenging in our history. They have culminated in America bearing witness to the murder of George Floyd and have been followed by nationwide protests for justice and equality. We deeply respect and support those across America who are protesting peacefully for critical change. 

As Americans, we all must take responsibility for the uncomfortable and unacceptable truth that we, as a nation, have not consistently stood up for the basic human rights of many of our fellow citizens.  

We at Hamilton Zanze are committed to providing housing and building community regardless of religion, gender, sexual orientation, age, nationality, gender identity, citizenship, color, or race, and believe that there should be one American system of justice that applies equally to all of us. We are also committed to listening and hearing. We must listen to the voices of our teams, our partners, those among us and in our communities who are the most vulnerable and disenfranchised, and those struggling with the most grief. We will listen not only to convert what we learn into progress but also out of respect for those whose voices have been silenced. 

Silence is not an option. While the past cannot be changed, thoughts, prayers, sympathies, and condolences are not enough. We are not without flaws, but we will not allow our human frailties to hold back progress. We will work to hold our elected officials accountable, and we will remain accountable to each other and each of you in providing housing and building communities that promote equality and reflect the diversity of our nation and the best of its ideals.



April 20, 2020

Hamilton Zanze Acquires St. Louis Community

Hamilton Zanze’s acquisition of Steelyard & IceHouse Apartments was recently featured in Multi-Housing News:

A loft-style apartment community situated in the up-and-coming Soulard nook of downtown St. Louis has been acquired by real estate investment firm Hamilton Zanze.

The Class A, mid-rise, 170-unit Steelyard & Icehouse Apartments features two components. In 2016, developer LuxLiving renovated a 1924 ice warehouse called the Icehouse, creating 42 loft residences with open-concept floor plans. Subsequently, The Steelyard, a five-story 128-unit apartment community with an adjacent structured parking garage, was built on a nearby parcel that formerly housed several industrial structures and warehouses. That apartment community opened last year.

Read the full article at Multi-Housing News, and see more coverage at Baker City Herald, and RE Journals.



April 20, 2020

Hamilton Zanze Acquires Apartment Community in St. Louis

ST. LOUIS – April 20, 2020 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) acquired the 170-unit Steelyard & IceHouse Apartments (Steelyard) in St. Louis, MO on April 10th. The purchase marks the firm’s fifth acquisition of the year, second property in St. Louis, and first self-sponsored Delaware Statutory Trust (DST).

Steelyard is a Class A, mid-rise community located in Downtown St. Louis. The developer, LuxLiving, first renovated a 1924 warehouse (The IceHouse) in 2016 to create 42 desirable lofts with open-concept floorplans and state-of-the-art amenities. An additional 128 units (The Steelyard) were built on a neighboring lot formerly home to several small warehouses and industrial structures. The community offers a mix of luxury studios, one-, two-, and three-bedroom units averaging 784 square feet in size with desirable amenities including smart home technology.

“Steelyard & IceHouse provided us an attractive opportunity to buy a new property in the up-and-coming neighborhood of Soulard,” said David Nelson, Hamilton Zanze’s managing director of acquisitions. “The property features a robust amenity package, prime location near Downtown St. Louis, and offers residents the quality of life provided by the city’s energetic urban core. As this is our second acquisition in the metro within the last six months, we are excited about our continued growth in the region.”

High-end community amenities include a saltwater swimming pool and hot spa, poolside bar, snack bar, barbecue and lounging area, dog park and washroom, rooftop entertainment and observation deck, fitness center, and concierge service. Property management responsibilities have been transferred to affiliated company Mission Rock Residential.

Steelyard is located in Downtown St. Louis and in 2018, ranked as one of the top 100 cities for business and careers, as well as education. The metro is largely supported by the healthcare industry and is home to several hospitals and medical centers, including top ranked St. Louis Children’s Hospital. Other notable area employers include Anheuser-Busch, BJC HealthCare, SSM Health, Mercy Hospital St. Louis, Boeing, and Washington University in St. Louis.

To learn more visit www.steelyard-stl.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 $4.6 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 87 properties (21,381 units) across 15 states. For additional information, visit www.hamiltonzanze.com



March 24, 2020

“Why You Should Start With Accounting” With Jason Hartman & Ashlee Cabeal

We were excited to work with Thrive Global on this Q&A with HZ’s CFO Ashlee Cabeal for a series about strong women leaders in the real estate industry. Please read the full story at ThriveGlobal.com or on Medium:

“While this might sound boring to some, I would have to start with accounting. As you enter the real estate field you certainly don’t need know what a CAP rate is or a Gross Rent Multiplier. If you knew how to read a balance sheet, though, or how to interpret a Cash Flow Statement, you will be able to learn those other things much intuitively. A basic understanding of accounting principles will greatly help you understand individual real estate deals and identify potential areas for concern.”



March 11, 2020

Hamilton Zanze Acquires Bluebird Row Apartments in Tennessee

CHATTANOOGA – March 12, 2020 – San Francisco-based real estate investment firm Hamilton Zanze (HZ) acquired the 283-unit Bluebird Row Apartments in Chattanooga, TN on March 4th. The purchase marks the firm’s fourth acquisition of the year and sixth property in Tennessee.

The community, newly built in 2019, is located two hours between Nashville and Atlanta and is situated at the junction of several states, with direct access to Interstates 75 and 24. The community offers a mix of luxury studio, one-, two-, and three-bedroom units averaging 935 square feet in size, with desirable amenities including smart home technology.

“Bluebird Row offered an attractive opportunity to buy a brand-new property in Chattanooga. The property features a robust amenity package, prime location in Downtown Chattanooga, and offers residents the quality of life provided by the city’s energetic urban core,” said David Nelson, Hamilton Zanze’s managing director of acquisitions. “As this is our first acquisition in the metro and sixth in the state of Tennessee within the last 12 months, we are excited about our continued growth in the region.”

High-end community amenities include a resort-style swimming pool, rooftop lounge, 24-hour self-serve market, outdoor grilling stations, rock climbing wall, bocce ball court, pet spa, and a yoga/spin studio. Property management responsibilities have been transferred to affiliated company Mission Rock Residential.

Bluebird Row is located in Downtown Chattanooga, the second-fastest growing city in Tennessee and the hub of a thriving economic region given its location at the juncture of Alabama, Georgia, and Tennessee. In November 2019, Volkswagen began the $800 million expansion of their Chattanooga plant, creating 1,000 additional jobs in the region. Other notable area employers include Erlanger Healthy System, BlueCross BlueShield of Tennessee, Tennessee Valley Authority, McKee Foods Corporation, and Amazon.

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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 $4.6 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 86 properties (21,211 units) across 15 states. For additional information, visit www.hamiltonzanze.com



March 2, 2020

Hamilton Zanze Expands Nashville-Area Portfolio

Hamilton Zanze’s acquisition of Commonwealth at 31 was recently featured in Multi-Housing News:

Hamilton Zanze has acquired Commonwealth at 31, an apartment community in the Nashville suburb of Spring Hill, Tenn., for $53.3 million. The 248-unit multifamily property was sold by Commonwealth Capital Partners, according to Yardi Matrix.

Built in 2017, Commonwealth at 31 is Hamilton Zanze’s third acquisition so far in 2020 and the fifth acquisition so far in 2020 and the fifth acquisition to date in the Nashville metropolitan region.

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