SAN ANTONIO, TX - Hamilton Zanze, a San Francisco-based real estate investment company, has acquired the 150-unit Quarry Townhomes in San Antonio, continuing a steady streak of investment in the fast-growing Texas market. The purchase was finalized at the end of September.
The property is located on 6.5 acres in the Alamo Heights submarket of San Antonio and consists of 175,872 net rentable square feet across a mix of one-, two- and three-bedroom units. Unit occupancy was 89% at the time of the transaction.
“Quarry Townhomes is a unique property within the Alamo Heights submarket of San Antonio, located within walking distance of an abundance of high-end retail and entertainment, including the Quarry Golf Club, Alamo Quarry Market, Whole Foods, and Trader Joe’s,” said David Nelson, Managing Director of Acquisitions for Hamilton Zanze. “The asset offers large, townhome-style units with direct access garages, giving this multifamily asset a single-family home feel.”
Hamilton Zanze plans to undertake improvements at the property including interior unit remodels, clubhouse and courtyard renovations, and exterior aesthetic updates. Management of the community has also been transitioned to longtime Hamilton Zanze partner Mission Rock Residential.
This is the sixth property now held by the firm in San Antonio, all acquired in the last two years. The other HZ properties in the market include The Niche Apartments, Meridian Apartments, The Enclave at 1550 Apartments, Salado Springs Apartments, and BLVD at Medical Center Apartments.
Hamilton Zanze 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 $2.8 billion in multifamily assets. The company currently owns and operates 85 properties (18,065 units) across 10 states.