Source: Hamilton Zanze
CHATTANOOGA, TN - San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 190-unit 5 Points Northshore Apartments in Chattanooga, Tennessee. The Kirkland Company represented the seller on this transaction. This represents HZ's eighth acquisition in Tennessee.
The property, built in 2019, is located just north of Downtown Chattanooga, which is situated at the bend in the Tennessee River at the Juncture of Tennessee, Georgia, and Alabama.
"5 Points Northshore presented a great opportunity to buy a Class A asset in Chattanooga, Tennessee" said David Nelson, Hamilton Zanze's chief transactions officer. "The property features a top-of-the-line amenity package, a prime location within walking distance to many attractions, and offers residents the quality of life provided by the city's energetic core. As this is our second acquisition in Chattanooga, we're very excited to continue to watch the region's growth."
The community is located at 328 Cherokee Blvd in the desirable North Chattanooga submarket, approximately 5-minute drive or 2.5 miles from Downtown Chattanooga. The 190 residential units average 826 square feet with 37 different floor plans. Community amenities include an outdoor lounge and kitchen, resort-style pool, pet spa and park and a clubroom with billiards tables and TVs. Unit amenities include gourmet kitchens, in-unit washers and dryers, private balconies and patios, walk-in closets, and tile bathrooms.
HZ's capital improvements will include site improvements, building repairs, amenity enhancements, and mechanical, electrical, and plumbing updates. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.