SAN ANTONIO, TX - San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Niche Apartments in San Antonio, Texas. The firm originally purchased the 150-unit, garden-style apartment community was in 2016, and the sale closed on April 5, 2022. The sale of Niche Apartments represents Hamilton Zanze's second disposition of 2022.
During their ownership, the firm completed numerous exterior improvements, which included renovations to the fitness center, roof replacements, and pool enhancements. Additionally, 54 units were updated with stainless appliances, quartz countertops, and new fixtures to improve the community residents' quality of life.
"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."
The Niche Apartments were built in 2000 and is located at 33 Lynn Batts in San Antonio. The property comprises 150 one-, two-, and three-bedroom units averaging 955 square feet. The community has a resort-style pool and spa, a dog park, a fitness center, barbeque and picnic areas, and nature trails.
The Niche is a planned, gated community near Interstate I-410, located in the Oakwell Farms neighborhood in the city of San Antonio just 10-minutes away from the International Airport. Residents have access to its well-maintained facilities including a pool, on-site park, and tennis courts. The neighborhood is roughly 20 minutes away from Downtown San Antonio, putting the amenities and conveniences of the city just a short drive away.