Source: Hamilton Zanze
BOISE, ID - San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Selway Apartments in Meridian, Idaho. The firm purchased the property. The sale of Selway Apartments represents the firm's ninth disposition of 2022.
"Selway was right down the fairway for Hamilton Zanze. Its size, vintage, and the Boise submarket itself all presented exciting opportunities at the time of acquisition," said Anthony Ly, director of dispositions at Hamilton Zanze. "We are elated to have executed on this deal and delivered a positive outcome for our investors."
During their ownership, Hamilton Zanze completed numerous exterior and landscaping improvements, upgraded community amenities and renovated units with new backsplashes, appliances, and hardware to improve leasing efforts and increase rental rates.
The Selway Apartments were built in 2009 and are located at 2552 West Selway Rapids in Meridian. The property comprises 171 units, averaging 942 square feet, across 19 buildings. The community has a pool, an indoor pool spa, a barbecue area, and a fitness center.
The Apartments are located in Meridian, the second largest city in Idaho. Selway is in close proximity to several major Boise employers, such as Boise State University. The property is close to Valley Regional Transit (VRT), which connects Meridian to other major areas in the Boise MSA. Selway Apartments is located 17 miles from Downtown Boise and 16 miles from the Boise Airport.