Hamilton Zanze Sells Suburban Dallas Community
- Oct 19, 2020
Hamilton Zanze has sold Fountains at Steeplechase, a 368-unit community in Plano, Texas. According to public records, Bridge Partners acquired the asset and Berkadia arranged a Freddie Mac acquisition loan. Hamilton Zanze purchased the garden-style property in 2013 from Aimco.
Located at 7301 Alma Drive on 23 acres, the 38-building community is within 2 miles of U.S. Route 75. The surrounding area has several retail and dining options, including Central Legacy Plaza, which is 2 miles from Fountains at Steeplechase. Built in 1985, the asset comprises one- and two-bedroom units, with an average size of 857 square feet.
The seller replaced the roof, upgraded the windows and improved the amenities. Additionally, the apartments feature upgraded appliances, new flooring, resurfaced countertops and improved hardware. Common-area amenities include a clubhouse, fitness center, swimming pool, business center, playground, and dog park. The property also has 600 parking spaces, according to Yardi Matrix.
In August, Hamilton Zanze sold Highpointe Park Apartments, an apartment community in the Denver suburb of Thornton, Colo. CBRE represented the seller in the $53.6 million transaction.