Hamilton Zanze Sells Virginia Asset
The deal marked the firm's fourth disposition of the year.
Hamilton Zanze has sold Woods of Williamsburg, a 125-unit apartment community in Williamsburg, Va. The company had bought the property in 2018 from Aimco for $11.9 million, with the help of a $9.3 million CMBS loan from Citibank, according to Yardi Matrix information.
Woods of Williamsburg came online in 1978 on a 17-acre site. The community comprises 14 two-story buildings with studio, one-, two- and three-bedroom apartment layouts. Floorplans range from 590 to 1,085 square feet.
Shared amenities at the pet-friendly community include two playgrounds, a swimming pool, a laundry facility and a coffee bar. The property also has grade-level parking with 295 spots.
Hamilton Zanze has upgraded the property multiple times during its eight years of ownership. Improvements included repainting the exterior walls and modernizing the pool area and other common-area amenities.Â
The community is at 108 Tilghman Court, west of Highway 199 and less than 5 miles from downtown Williamsburg. Most of the eateries, supermarkets and other retail options are 3 miles away.
Woods of Williamsburg marked Hamilton Zanze’s fourth asset sale in 2024. In another one of this year’s deals, the company sold a 248-unit community in San Antonio.
