Source: Hamilton Zanze
NASHVILLE, TN - San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 248-unit Commonwealth at 31 multifamily apartment community in Spring Hill, Tennessee. The purchase marks the firm's third acquisition of the 2020 year and fifth acquisition in the Nashville metro area to-date.
"Commonwealth at 31 offered an attractive opportunity to buy a brand-new property in the strong submarket of Spring Hill," said David Nelson, managing director of transactions for Hamilton Zanze. "The property features a contemporary vintage, robust amenity package, and prime location which will provide our residents with the quality of life offered in Nashville's urban core. As this is our fourth acquisition in the metro within the last 12 months, we are excited about our continued growth in the region."
Built in 2017, Commonwealth at 31 offers spacious one-, two-, and three-bedroom units averaging just over one-thousand square feet each. The community includes a resort-style swimming pool, fitness center, dog park, and community fire pits. Large units feature washers and dryers, private balconies, walk-in closets, and stainless-steel appliances.
HZ's capital improvements plan includes community amenity upgrades, environmentally conscious interior investments, and exterior renovations. Property management responsibilities have been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.
The community is located a 35-minute drive south of downtown Nashville in Williamson County, which is home to the top-ranked school district in Tennessee, a strong driver of housing demand in the area. Nashville has seen tremendous growth in recent years, benefiting from a well-established economy driven by top universities, including Vanderbilt University, and abundant business opportunity.