California-Based Investment Company Goes Shopping in Texas
- Oct 30, 2015
Hamilton Zanze knows how to recognize a great investment opportunity when it sees one. The San Francisco-based real estate company recently acquired Apartments at Amesbury Court, a 312-unit multifamily community located north of Fort Worth. While the purchase price was not released, the seller was identified as Sentinel Real Estate.
Both the seller and the buyer were represented in the transaction by Will Balthrope, Drew Kile and Rowan Burch of Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors.
With the acquisition of Amesbury Court, Hamilton Zanze’s portfolio expands to 92 properties and exceeds 19,000 units, according to an official statement announcing the sale.
Built in 2001 on a 17.5-acre-site, the rental property consists of ten buildings located at 4699 Fossil Vista Drive in Haltom City, at the intersection of Fossil Vista Drive and North Beach Street, one mile east of the Interstate 820/Interstate 35W interchange, which provides quick access to downtown Fort Worth, Alliance and the Dallas/Fort Worth International Airport.
“Investors see the high-growth potential of this area, which is fueled by its proximity to Alliance and Downtown Fort Worth and enhanced by the impending completion of major highway projects that will greatly enhance mobility throughout the region,” IPA director Drew Kile said in prepared remarks.
According to real estate data provider Yardi Matrix, the multifamily community offers a combination of one-, two- and three-bedroom units ranging in size from 703 square feet to 1,273 square feet. Monthly rents at Amesbury Court start at $805 for a one-bedroom, reaching $1,230 for a three-bedroom unit. The common area amenities include a fitness center, business center, clubhouse, two swimming pools, and parking spaces for 625 vehicles.
Image courtesy of IPA