Northern Nevada’s second-largest multifamily portfolio sale is in the books – well, mostly.
San Francisco-based Hamilton Zanze, an institutional multifamily investor with more than 25,000 units across the U.S., purchased three properties from longtime Northern Nevada multifamily developer and operator Kromer Investments. Hamilton Zanze already closed on the 448-unit Sand Pebble/Spanish Oaks Village on El Rancho Drive, as well as the 328-unit Lakeview Apartments on Eastshore Drive by Virginia Lake. Hamilton Zanze expects to close on the 272-unit Village of the Pines on East Peckham in mid-August.
Hamilton Zanze has owned the 176-unit Lodge at McCarran Ranch on Redfield Parkway in Reno since 2007 and had long been looking to grow its portfolio in Northern Nevada, said Director of Acquisitions Ian O’Conner. The company owns Lodge at McCarran Ranch via its high-net-worth vertical, which is primarily focused on generating long-term durable cash flow through value-add investments, O’Connor said…