Hamilton Zanze Sells Two Properties in Hartford

News provided by

Mar 01, 2023, 08:37 ET

MIDDLETOWN, Conn., March 1, 2023 /PRNewswire/ -- San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Middletown Brooke and Middletown Ridge Apartments in the desirable Southeast Hartford/Middlesex County submarket of Hartford, Connecticut. The firm purchased the portfolio of two properties in March 2018 and the sale closed on February 27, 2023.

The Middletown Ridge Apartments were part of a two-community apartment portfolio sold by Hamilton Zanze on February 27th.

The Middletown Brook apartment community features 280 apartment residences and has seen significant renovations and updating under the ownership of Hamilton Zanze since 2018.

During their ownership, Hamilton Zanze completed many successful renovations focused on making the property run more efficiently. These projects include unit upgrades, additions to the amenity package, repaving, HVAC replacements, and numerous exterior improvements.

"We are thrilled to have executed our business plans for Middletown Brooke and Middletown Ridge in just five years versus the projected ten-year hold period," said Anthony Ly, senior director of dispositions at Hamilton Zanze. "Both properties were acquired as a portfolio in 2018 and represented an opportunity for immediate scale and to improve the resident experience through unit renovations and property-wide improvements."

Middletown Brooke was built in 1989 and is located at 100 Town Brooke. The property comprises 280 one- and two-bedroom units averaging 812 square feet. Community amenities feature a leasing office, clubroom, fitness center, swimming pool, dog park, barbecue areas, and a carport.

Middletown Ridge was built in 1988 and is located at 100 Town Ridge Road. The property comprises 236 one-, two-, and three-bedroom units averaging 1,066 square feet. Community amenities include a leasing office, clubroom with kitchen, fitness center, indoor racquetball court, swimming pool with sundeck, laundry facility, and barbeque grilling stations.

Middletown Brooke and Ridge are located in Middletown, CT, central to both Downtown Hartford and Downtown New Haven. Both apartment communities provide residents with easy access to major retail and employment centers. The properties are also located near several of Connecticut's largest employers, such as Aerospace Techniques, Wesleyan University, Middlesex Hospital, and Pratt & Whitney.

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 $6.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 132 properties (22,821 units) across 17 states and 30 markets. For additional information, visit www.hamiltonzanze.com.

Media Contact:
Nicole Marshall
5046447335
[email protected]

SOURCE Hamilton Zanze