Hamilton Zanze Announces Sale of Belle Creek Apartments

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Mar 05, 2024, 07:15 ET

Firm Completed Several Upgrades in Eight-Year Ownership of Metro Denver Property

SAN FRANCISCO, March 5, 2024 /PRNewswire/ -- Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, announced today that it has sold Belle Creek Apartments, a 156-unit apartment community in Henderson, Colo., in metro Denver. The firm acquired the property in April 2016, and after instituting a comprehensive capital improvement program, closed the sale on Feb. 28.

During its ownership of Belle Creek Apartments, Hamilton Zanze completed upgrades to the apartment homes and building exteriors. The firm also installed a new resident clubhouse.

Hamilton Zanze's successful renovation efforts included upgrades to the apartment homes and building exteriors, and the installation of a new resident clubhouse. The improvements focused upon enhancing the resident experience and enabling the community to operate more efficiently.

"We could not be more pleased with our ownership and disposition of Belle Creek Apartments," said Anthony Ly, Senior Director of Transactions at Hamilton Zanze. "As a result of our improvements and our focus on providing a best-in-class living experience for our residents, Belle Creek was a high-performing asset that provided investor returns that exceeded our initial expectations. In short, this community is a great example of how Hamilton Zanze creates value for both our renters and our investors. Additionally, we're very proud to have worked efficiently with all of the parties involved to complete the sale during a difficult time to transact."

Situated at 10754 Belle Creek Boulevard approximately 15 miles northeast of Downtown Denver, Belle Creek Apartments was built in 2002 and features one-, two- and three-bedroom units, with homes ranging from 545 square feet to 1,010 square feet. The three-building, garden-style property includes six retail spaces totaling 6,256 square feet.

Apartment features include central heating and air conditioning, washers and dryers, large closets and dishwashers. Select homes feature wood-style flooring, stainless-steel appliances and private patios or balconies. The community also offers furnished homes. Community amenities include Amazon package lockers, the new resident clubhouse, barbecue/picnic area, playground, surface lot parking, on-site dog park and 24-hour emergency maintenance.

Belle Creek is located just across the street from Town Square Park and offers convenient access to numerous restaurants, shopping and entertainment options. The community is also near several business parks and many of the area's major employers, including CAST Transportation and Asse International. Acclaimed schools such as Belle Creek Charter School, Riverdale High School and Prairie View High School are nearby.

The sale represents Hamilton Zanze's second disposition in 2024.

About Hamilton Zanze
Hamilton Zanze is a private, San Francisco-based real estate investment company that owns and operates apartment communities with the highest standards. Since its founding in 2001, Hamilton Zanze has acquired over $6.8 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S. The company currently owns and operates 124 properties (21,579 units) across 27 markets. For additional information, visit www.hamiltonzanze.com.

SOURCE Hamilton Zanze & Company