Firm Completed Several Upgrades in Eight-Year Ownership of San Antonio Property
SAN FRANCISCO, March 20, 2024 /PRNewswire/ — Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, today announced it has sold BLVD at Medical Center, a 248-unit apartment community in San Antonio. The firm acquired the property in June 2016, and after instituting a comprehensive capital improvement program, closed the sale on March 19.
Hamilton Zanze’s renovation efforts at BLVD at Medical Center included upgrades to the apartment homes, building exteriors, common-area amenities and landscaping.
Hamilton Zanze’s successful renovation efforts included upgrades to the apartment homes, building exteriors, common-area amenities and landscaping. The improvements focused upon enhancing the resident experience and enabling the community to operate more efficiently.
“We are very pleased with the disposition of BLVD at Medical Center,” said Anthony Ly, Senior Director of Transactions at Hamilton Zanze. “As we always aim to do, we were able to add value and optimize the living experience through the strategic execution of a capital improvement program and a commitment to outstanding resident service. As a result, the community performed well, created a strong cash flow and delivered targeted returns to our investors, and was also a sought-after asset on the for-sale market.”
Situated at 4980 USAA Boulevard approximately 13 miles northwest of Downtown San Antonio, BLVD at Medical Center was built in 2016 and features one-, two- and three-bedroom units with an average size of 776 square feet. Apartment features include stainless steel appliances, walk-in closets, granite countertops and full-size washers and dryers. Community amenities include a resort-style pool, yoga studio, 24-hour fitness center, outdoor kitchen, playground, e-lounge/business center and valet trash service.
BLVD at Medical Center is located next to a protected greenbelt and offers easy access to Interstate 10 and Loop 410. The community also is near many of the area’s major employers, including the global headquarters of USAA, South Texas Medical Center, Valero Energy and the University of Texas at San Antonio.
The sale represents Hamilton Zanze’s third disposition in 2024. The firm has sold over $4 billion in multifamily properties since its founding in 2001.
About Hamilton Zanze
Hamilton Zanze is a private, San Francisco-based real estate investment company that owns and operates apartment communities with the highest standards. Since its founding in 2001, Hamilton Zanze has acquired over $6.8 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S. The company currently owns and operates 124 properties (21,579 units) across 27 markets. For additional information, visit www.hamiltonzanze.com.
SOURCE Hamilton Zanze & Company
