Seattle & Northwest + Seattle + Apartments | May 19, 2023

Real estate investment firm Hamilton Zanze has sold Sierra Sun, an apartment property in Puyallup, Washington, which it acquired in 2014

Hamilton Zanze Offloads Puyallup Apartments After Nine-Year Hold

San Francisco-based real estate investment firm Hamilton Zanze has sold Sierra Sun in Puyallup, WA for an undisclosed sum. The multifamily property is located in Puyallup’s South Hill, a popular choice for Pierce County residents. The firm purchased the community in May 2014.

During the nine-year ownership period, Hamilton Zanze completed many renovations focused on making the property run more efficiently. These projects included unit renovations, landscaping, pool and spa repairs, amenity improvements, lighting enhancements, and the addition of a dog park.

“We are very pleased with the performance of Sierra Sun,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “The property experienced strong rent growth while also being a cost-effective alternative to other urban areas of Washington.

“Transacting in this current market is not without its challenges,” he added. “The Kidder Mathews team led a strong marketing effort, which resulted in the selection of a very strong buyer that could navigate this market.”

Connect

Inside The Story

Hamilton ZanzeKidder Mathews

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints