SAN FRANCISCO, CA - San Francisco-based real estate company Hamilton Zanze (HZ) has acquired Tualatin View Apartments in Durham, OR for $21,970,000. The acquisition expands HZ’s current footprint in the Portland MSA to five properties.
Tualatin View is a 210-unit, Class B apartment community built in 1993. The property is located at 18480 SW Boones Ferry Road, and is within commuting distance of employers such as Adidas, Nike, and Intel. HZ plans to implement a $3,400,000 capital improvement program to drive operations.
“I am thrilled that we continue to grow our Portland portfolio and affordable platform,” says David Nelson, HZ’s Managing Director of Acquisitions.
Durham is a bedroom community in the Lake Oswego/Tualatin/Wilsonville submarket 12 miles south of Portland. Tualatin View sits on the northern shore of the Tualatin River and is within walking distance of Bridgeport Village, a 500,000-square-foot open-air shopping center. The property is just a few minutes from I-5 and I-205, which offer residents access to Portland and Seattle to the north and Eugene to the south.
HZ has purchased 14 multifamily assets for over $297 million in the Western and Southwestern U.S. over the last 12 months.
For additional information about this acquisition, please contact David Nelson at 415.539.0080 or david@hamiltonzanze.com.
Summary of the Acquisition
• 210-unit Class B multifamily property built in 1993
• Located in a bedroom community 12 miles south of Portland, OR
• Planned $3,400,000 value-add program to drive operations
• Purchase price of $21,970,000
• 96% occupancy at time of purchase
• HZ’s fifth active investment in Portland MSA (seventh historically)
About Hamilton Zanze
Hamilton Zanze is a private, San Francisco-based real estate company that acquires, repositions, and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $1.93 billion in multifamily investments across 10 states in the Western and Southwestern U.S. The company currently owns and operates 82 properties (17,023 units) across nine states. For additional information, visit www.hamiltonzanze.com