Hamilton Zanze Sells Multifamily Community in San Antonio
San Francisco-based real estate investment firm Hamilton Zanze has sold the Niche Apartments in San Antonio, TX. The transaction amount was not disclosed. The firm originally purchased the 150-unit, garden-style apartment community in 2016. The sale of Niche Apartments represents Hamilton Zanze’s second disposition of 2022.
Hamilton Zanze did complete numerous exterior improvements on the 22-year-old property, including renovations to the fitness center, roof replacements, and pool enhancements. Additionally, 54 units were updated with stainless appliances, quartz countertops, and new fixtures.
“The Niche Apartments’ returns exceeded initial expectations over our projected five-year hold period,” said Anthony Ly, director of dispositions at Hamilton Zanze. “This investment exemplifies our strategy to identify opportunities, invest in and capture upside from multifamily properties through renovations, upgrades, and improved management.”
Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!