Firm Completed Several Upgrades in Six-Year Ownership of Boise Property
BOISE, Idaho, Dec. 21, 2023 /PRNewswire/ — Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, today announced it has sold Arbor Crossing, a 229-unit apartment community located along the Boise River Greenbelt. The firm acquired the property in March 2017, and after instituting a meaningful capital improvement program, closed the sale on Dec. 14.
Hamilton Zanze’s successful renovation efforts included upgrades to the amenity spaces, leasing office and unit interiors. The company also made several exterior repairs and built a new fitness center. The improvements focused upon enhancing the resident experience and enabling the community to operate more efficiently.
“We are thrilled with the sale of Arbor Crossing,” said Anthony Ly, senior director of transactions at Hamilton Zanze. “The execution of our business plan through active management and the execution of various capital improvement projects created strong cash flow for our investors and led to a successful sale.”
Situated at 5122 W Stoker Lane, Arbor Crossing was built in 1992 and features one-, two- and three-bedroom units with an average size of 930 square feet. Apartment features include private patios and balconies, fully equipped kitchens, dishwashers, outdoor storage closets, spacious walk-in closets, fireplaces and vaulted ceilings. Community amenities include a fitness center, business center, swimming pool, daycare, playground, coffee and tea bar, detached garages, a sports court and a gazebo with grilling areas.
The community features a desirable Greenbelt location within walking distance of Silver Lake and within a short drive of West State Street and Highway 26, which provide expedient access to Downtown Boise. The community also is accessible to many of the area’s prominent employers, including Micron Technologies, St. Alphonsus Regional Medical Center, St. Luke’s Boise Medical Center, Hewlett-Packard, J.R. Simplot, Boise State University and Albertsons.
The sale represents Hamilton Zanze’s 11th disposition in 2023.
About Hamilton Zanze
Hamilton Zanze is a private, San Francisco-based real estate investment company that owns and operates apartment communities with the highest standards. Since its founding in 2001, Hamilton Zanze has acquired over $6.8 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S. The company currently owns and operates 124 properties (21,579 units) across 27 markets. For additional information, visit www.hamiltonzanze.com.
SOURCE Hamilton Zanze & Company
Originally published at https://www.prnewswire.com/news-releases/hamilton-zanze-announces-sale-of-arbor-crossing-302020556.html
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