Hamilton Zanze Sells Boise Community
The firm acquired the 229-unit apartment community in March 2017 and completed a major renovation program.
Hamilton Zanze had completed upgrades to the amenity spaces, leasing office and unit interiors. Photo courtesy of Hamilton Zanze
Hamilton Zanze has exited the Boise, Idaho metro after the sale of its final 229-unit community in the market. The firm sold its Arbor Crossing apartment community to an undisclosed buyer. Hamilton Zanze first acquired the community in March 2017 from Cottonwood Residential, according to Yardi Matrix data.
Arbor Crossing was built in 1992 and offers one-, two- and three-bed units that have an average size of 930 square feet. The units were built with private patios and balconies, outdoor storage closets, walk-in closets, fireplaces and vaulted ceilings. The community’s amenities include a fitness center, business center, pool, daycare, playground, sports court, gazebo, coffee and tea bar and grilling areas.
During its ownership, Hamilton Zanze completed a significant capital improvement program to enhance the resident experience and upgrade the community’s operational efficiency. The renovation program totaled $5 million and included upgrades to the amenity spaces, leasing office and unit interiors. Hamilton Zanze also made exterior repairs and constructed a new fitness center for Arbor Crossing.
Located at 5122 W. Stoker Lane, the community is within walking distance to Silver Lake and four miles away from downtown Boise. Arbor Crossing’s location also gives its residents easy access to the area’s major employers, which include Hewlett-Packard, Boise State University and St. Luke’s Boise Medical Center.
FINAL DISPOSITION IN THE BOISE METRO
Anthony Ly, senior director at Hamilton Zanze, told Multi-Housing News that the sale of Arbor Crossing follows two previous dispositions in October 2022. Hamilton Zanze sold Selway, a 171-unit community in Meridian, Idaho, and Monterra Townhomes, a 148-unit garden-style community in Boise, Idaho, Ly also told MHN.
The sale of Arbor Crossing also represents Hamilton Zanze’s 11th disposition this year, following the sale of Vistas at Stony Creek in the Denver metro. Earlier in the year, Hamilton Zanze also sold 4000 Hulen Apartments, a 240-unit mid-rise community in Fort Worth, Texas in April. There, the firm pursued a similar strategy of renovating the community’s interiors and exteriors.
