Hamilton Zanze Sells San Antonio Community
East West Bank provided acquisition financing.
DiNapoli Capital Partners has acquired Niche Apartments, a 150-unit garden-style community in San Antonio. East West Bank provided the buyer with $20.1 million in acquisition financing, according to Yardi Matrix data. Hamilton Zanze sold the property, previously bought in 2016 for $15.4 million, the same data provider shows.
Completed in 2000, the property spans 5.5 acres and comprises one-, two- and three-bedroom apartments, ranging from 690 to 1,390 square feet with in-unit washers and dryers. Common-area amenities include a swimming pool, a spa, a fitness center, a dog park and barbeque areas. During its ownership, Hamilton Zanze upgraded some of these features, as well as the interiors of 54 units.
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Located at 33 Lynn Batts Lane, the community is within 1 mile of several retail options, such as a Walmart Supercenter, H-E-B and Walgreens. Interstate 410 is less than 2 miles north of Niche Apartments, connecting it to Interstate 35 and downtown San Antonio. Oakwell TrailHead Park is 2 miles away.
Hamilton Zanze’s portfolio currently holds more than 20,600 units across the U.S., Yardi Matrix data shows. In November, the company sold another San Antonio community, the 352-unit Salado Springs Apartments, after a series of enhancements and renovations.