Hamilton Zanze Real Estate Investments has selected Mission Rock Residential, a Denver-based multifamily property management firm, to manage ArLo Apartments, a 175-unit asset in Portland, Ore. The assignment is Mission Rock’s first management deal in the Portland area and further expands the company’s presence in the Northwest, where it manages several multifamily properties in Oregon and Washington.
Meredith Wright, Mission Rock president, said in a prepared statement the property has an outstanding location, modern design and rich amenities. Built in 2019, ArLo Apartments is located in Portland’s Arbor Lodge neighborhood about 10 minutes from the city center and 20 minutes from Portland International Airport. Portland, often called Silicon Forest, has more than 1,200 technology companies within the metro. Other major employers include some of the nation’s top athletic and outdoor gear companies. The maritime industry is also a major employment driver for the region.
The midrise-style property is situated on a 1-acre site with walking access to retail and social destinations. ArLo’s units have luxury finishes including stainless-steel appliances, mahogany kitchen cabinets with upgraded bronze pulls, designer tile backsplashes and white quartz countertops. Each apartment has walk-in closets and washers and dryers. Community amenities include bike storage, a rooftop lounge, game lounge, grilling area with an outdoor deck, an on-site dog park, and secure parking garage. The property also features an indoor/outdoor fitness center with cardio and strength-training equipment and a yoga studio.
Established in 2012, Mission Rock now manages 116 multifamily properties and more than 27,000 units across the U.S. In addition to the new ArLo Apartments assignment, Mission Rock handles property management duties for numerous other properties owned by Hamilton Zanze, a San Francisco-based private real estate company that owns and operates multifamily properties nationwide. In early January, Mission Rock took on the management contract for a 308-unit Maryland multifamily property recently acquired by Hamilton Zanze. The Views at Laurel Lakes Apartment Home in Laurel, Md., is located midway between Baltimore and Washington, D.C. That assignment came soon after Mission Rock announced two other Maryland deals with Hamilton Zanze to manage the 176-unit Park at Winterset and 348-unit Arbor Ridge Apartments, both in Owings Mills, Md.
Last April, Hamilton Zanze named Mission Rock the property manager of Steelyard & Icehouse Apartments, a Class A, 170-unit property it had acquired in downtown St. Louis. In January 2020, Mission Rock was selected by Hamilton Zanze to manage The Lodge on the Chattahoochee, a 312-unit apartment community in suburban Atlanta.