Hamilton Zanze Expands San Antonio Portfolio
The company acquired Quarry Townhomes, located in the Alamo Heights submarket. The 150-unit community was purchased from Ares Management with a $19.7 million loan held by Freddie Mac.
By IvyLee Rosario
Quarry Townhomes pool
Hamilton Zanze acquired Quarry Townhomes in San Antonio from Ares Management for $26.3 million, according to Yardi Matrix. The September sale price is unconfirmed, but believed to be reasonably representative of the transfer, which was subject to a $19.7 million loan held by Freddie Mac. Mission Rock Residential, a longtime partner with Hamilton Zanze, will handle property management responsibilities for the asset.
Located at 250 Treeline Park in the submarket of Alamo Heights, the 150-unit, pet-friendly community features one-, two- and three-bedroom floorplans ranging from 834 to 1,445 square feet across 13 two- and three-story buildings. Apartment features include granite countertops, fully-equipped kitchens, crown molding, stainless steel appliances, wood-style flooring, designer tile backsplash, ceiling fans, private balcony/patios, washer/dryer connections and nine-foot ceilings and fireplaces in select units. Residents have access to community amenities including:
- resort-style swimming pool
- state-of-the-art fitness center
- attached garages
- clubhouse with Wi-Fi
- conference room
- courtyard
- 310 parking spaces
Renovation Plan
Hamilton Zanze plans to implement several renovations to the 6.5-acre Quarry Townhomes. The 89 percent occupied community will undergo interior unit remodels, clubhouse and courtyard renovations and exterior updates.
Quarry Townhomes exterior
“Quarry Townhomes is a unique property within the Alamo Heights submarket of San Antonio, located within walking distance of an abundance of high-end retail and entertainment, including the Quarry Golf Club, Alamo Quarry Market, Whole Foods, and Trader Joe’s,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “The asset offers large, townhome-style units with direct access garages, giving this multifamily asset a single-family home feel.”
This is the sixth property acquired by the company in San Antonio within the last two years. The other properties include The Niche Apartments, Meridian Apartments, The Enclave at 1550 Apartments, Salado Springs Apartments and BLVD at Medical Center Apartments.
Images courtesy of Hamilton Zanze
