ATLANTA, GA - San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 312-unit Lodge on the Chattahoochee apartment community in Sandy Springs, GA. The deal closed on December 31, 2019. The purchase marked the firm's 11th acquisition of the 2019 year.
The acquisition is part of a three-property portfolio that HZ is purchasing from Aimco including the Lodge on the Chattahoochee, Timbers at Long Reach, and Chimneys of Cradlerock.
"With its large unit floorplans and access to the Chattahoochee River, Lodge on the Chattahoocheeserves a desirable and underserved demographic in the area," said David Nelson, managing director of acquisitions for Hamilton Zanze.
Built in 1973, Lodge on the Chattahoochee was 98% occupied at the time of purchase. The community offers immediate access to over 22 miles of riverfront trail and a fitness center, dog park, and business center. Large units feature ample natural light, washers and dryers, wood-style flooring, private balconies, walk-in closets, and attached garages.
HZ's capital improvements plan include community amenity upgrades and interior renovations. Property management responsibilities have been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.
The community is located less than 20 miles north of downtown Atlanta. The metro area remains a desirable place to live and work due to the business-friendly environment, ease of travel through Hartsfield-Jackson Atlanta International Airport, and the region's reputation as a logistics hub.
Source: Hamilton Zanze