WILLIAMSBURG, VA – Multifamily housing investor Hamilton Zanze, based in San Francisco, has bought three apartment communities in the State of Virginia, a first for the firm. Closing in late 2017 and early 2018, the bought assets included the Hunter’s Chase community in Midlothian, Virginia, along with the Parkway Apartments and The Woods of Williamsburg, both in the Jamestown submarket of Williamsburg.

“Hamilton Zanze is thrilled to be entering the Virginia multifamily real estate market through the acquisition of these communities,” said David Nelson, the Managing Director of Acquisitions for Hamilton Zanze. “Our transactions team holds very high confidence in the residential opportunities offered in Virginia, and paired with recent economic strengthening, we know we will be working in this State for a long time to come.”

Totaling to nearly 600 units, these three acquisitions represent a significant number of households. Hunter’s Chase was built in 1985, offers 261,188 net leasable square feet, and will undergo more than $8.5 million ($26,719/unit) of capital improvements that will include an interior renovation of all units in the community, enhancements to the clubhouse, fitness center, and pool amenity areas, and the conversion of the tennis court into a multi-sport court.

Built in 1971, Parkway Apartments is home to 148 rentable units. This community is central to downtown Williamsburg, in walkable proximity to dozens of restaurants and businesses. The Hamilton Zanze team will refresh some of the central community amenities in 2018.

The Woods of Williamsburg, in a bit more rural location in the Williamsburg market, will receive more extensive upgrades in the year ahead. A new leasing office and a 24-hour fitness center will be made for the 125-unit community.

Hamilton Zanze is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has bought over $3.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 86 properties (19,534 units) across 12 states.

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WASHINGTON, DC – The Fannie Mae Home Buy Sentiment Index (HPSI) rose 3.4 points in April to 91.7, marking a new all-time survey high. The increase can be attributed to increases in five of the six HPSI components. The net share of respondents who said now is a excellent time to buy a home was the only component that decreased, falling 3 percentage points compared to March. But, the net share who reported that now is a excellent time to sell a home increased 6 percentage points month over month.

Additionally, the net share who said home prices will go up in the next 12 months increased 7 percentage points in April, while the net share of consumers who said mortgage rates will go down over the next 12 months increased 4 percentage points. Americans expressed an increased sense of job security, with the net share who say they are not concerned about losing their job increasing 5 percentage points this month. Finally, the net share reporting that their income is significantly higher than it was 12 months ago increased 1 percentage point in April.

“The latest HPSI reading edged up to a new survey high, showing that consumer attitudes remain resilient going into the spring/summer home buying season,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “High home prices and excellent economic conditions helped push the share of Americans who reckon it’s a excellent time to sell to a fresh record high. But, the upward trend in the excellent-time-to-sell share seen since last spring has done small to release more for-sale inventory. The tightest supply in decades, combined with rising mortgage rates from historically low levels, will likely remain a hurdle for mobility and a persistent headwind for home sales.”

Fannie Mae’s 2018 Home Buy Sentiment Index (HPSI) increased in April by 3.4 points to 91.7. The HPSI is up 5.0 points compared with the same time last year.

The net share of Americans who say it is a excellent time to buy a home decreased 3 percentage points to 29%. The net share of those who say it is a excellent time to sell rose 6 percentage points to 45%, reaching a new survey high. The net share of Americans who say home prices will go up increased 7 percentage points to 49% in April. The net share of those who say mortgage rates will go down over the next 12 months increased 4 percentage points to -48%. The net share of Americans who say they are not concerned about losing their job increased 5 percentage points to 76% in April. The net share of those who say their household income is significantly higher than it was 12 months ago rose 1 percentage point to 18%.

The Home Buy Sentiment Index (HPSI) distills information about consumers’ home buy sentiment from Fannie Mae’s National Housing Survey (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and choice making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home buy decisions. The questions question consumers whether they reckon that it is a excellent or terrible time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to go, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.

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CHICAGO, IL – LMC, a leader in apartment development and management, announced the start of leasing at Marlowe, a luxury mixed-use apartment community integrated with smart-home technology in the vibrant River North neighborhood.

The 15-tale community, which features 176 apartment homes, boasts a boutique-inspired hotel feel equipped with the most comprehensive smart-home technology available in an apartment community in the Chicago River North neighborhood. The building will open in phases, with floors 2-6 to start go-ins on May 24. Floors 7-14 and the 15th-floor amenity deck are scheduled to open July 1.

“Chicago’s River North is home to a large population of creative professionals who want a cultural experience that integrates the technological conveniences they expect, and smart apartments are a natural fit for residents drawn to River North,” said Doug Bober, division president of Central and Midwest for LMC. “Apartment residents have heightened expectations for a tech-enabled living experience. We believe that combining these smart-home conveniences with an incredible architectural design will not only meet the demand of today’s renter – it will surpass it.”

Among the technologies incorporated into every apartment home are a Ruckus Router, Honeywell Lyric smart thermostat, a Sonos One with Alexa and Lutron Pico Remotes for dimming lights and controlling smart-home speakers. Select homes will feature Lutron Roller Shades, which can be controlled from a smartphone.

Marlowe’s boutique ambiance exudes from the site’s rich history and complements the technology. Constructed on the site of a former barbershop chair manufacturing company at 169 W. Huron Street, Marlowe’s design theme of “urban bistro meets vintage barbershop” includes light-yet-clean subway tile, rich textures and hues, and other vintage common-area aesthetics that serve as an ode to its past and a reflection of modern-day luxury.

The community also incorporates ground-floor retail, including a Limitless coffee shop integrated into the residential lobby, which accentuates the boutique feel and connects the community to the artistic vibe of the River North neighborhood. The neighborhood contains an eclectic mix of cultural, entertainment and retail opportunities with attractions ranging from Chicago Film Tour, Richard H. Driehaus Museum, Green Door Tavern and The Shops at North Bridge. A wide variety of local cuisine options include Wildfire Chicago, Prosecco, Frontera Grill, Beatrix, Roka Akor, and Three Dots and a Dash.

Marlowe consists of studio, convertible, 1- and 2-bedroom apartment homes ranging in square footage from 431 to 1,580. Apartment interiors include floor-to-ceiling windows with city views, quartz countertops, wood-style premium flooring, stainless-steel appliances with gas stovetop, designer tile backsplashes, custom lighting fixtures and textured floor tiles in bathrooms.

Community amenities include the skyline deck, which features an outdoor lap pool and stunning views of the city, an outdoor kitchen with grill spaces, lobby with fireplace, community lounge with gaming tables and bar, fitness studio with flex fitness space and a pet run/pet wash with owner’s lounge. Residents will also have access to self-service package and dry cleaning lockers, community library, electric-vehicle charging stations and bike storage.

Including Marlowe, LMC has developed three apartment communities in the Chicago area. Additional communities include The Brook on Janes (located in Bolingbrook) and The Emerson (located in Oak Park). Each community opened in 2017.

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