Multifamily Investor Hamilton Zanze Acquires St. Louis' Tribeca Apartments
Oct 31, 2019, 08:35 ET
ST. LOUIS, Oct. 31, 2019 /PRNewswire/ -- San Francisco-based real estate firm Hamilton Zanze (HZ) partnered with an affiliate of Cantor Fitzgerald, L.P. to acquire the 160-unit Tribeca apartment community in St. Louis, Missouri from seller Lux Living. The purchase marks Hamilton Zanze's first acquisition in the St. Louis metro.
"Tribeca offered a unique opportunity to buy a phenomenally built product with state-of-the-art amenities at an attractive basis," said David Nelson, managing director of acquisitions for Hamilton Zanze. "The property benefits from its proximity to Washington University, St. Louis and the BJC Medical Center, the largest medical facility in metro St. Louis and one of the highest-rated medical centers in the nation. Colliers, specifically Will Matthews, exceeded our expectations, and we look forward to working on our next deal together soon."
Built in 2018, Tribeca had a 100% occupancy rate at the time of purchase. The community is located at 5510 Pershing Avenue, just over a mile from Washington University in St. Louis. The 160 units feature high-end interior finishes, including stainless steel appliances, white cabinets, quartz countertops, faux wood flooring, tiled walk-in showers, deluxe rain shower heads, and smart home technology. Desirable community amenities include a delivery robot, state-of-the-art fitness center, pet park and spa, indoor and outdoor game areas, concierge services, self-serve beer on tap, and a saltwater pool.
"We are thrilled to partner with Hamilton Zanze on another acquisition," stated Ken Carpenter, managing director, Cantor Fitzgerald. "By leveraging HZ's deep acquisition relationships, we continue to grow our joint platform of well-located, high-quality multifamily properties in growing markets."
Tribeca is about five miles west of Downtown St. Louis in the St. Louis City submarket of the St. Louis apartment market. The region's low cost of living and location in the central U.S. make it a desirable destination for relocating businesses, and the metro's highly educated workforce is fed by the area's nearly 40 colleges, universities, and technical schools.
Management of the property has been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.
To learn more about Tribeca apartments, please visit the property website here.
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 $3.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 83 properties (19,986 units) across 15 states. For additional information, visit www.hamiltonzanze.com.
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SOURCE Hamilton Zanze
