HOUSTON, TX – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought the 200-unit Park at Waterford Harbor Apartments in Kemah, Texas. This represents HZ’s 26th acquisition in Texas.
The community, built in 1996, is 29 miles southeast of Downtown Houston, which has become a headquarters hub for several Fortune 500 companies including Phillips 66, Sysco, and Hewlett Packard Enterprise.
“We are very excited to add Park at Waterford Harbor to our portfolio and add another asset in the Clear Lake Submarket.” said David Nelson, Hamilton Zanze’s chief investment officer. “Its appealing location on the Kemah Harbor, proximity to NASA’s Johnson Space Center, other strong job drivers in the Houston metro, and the wide range of amenities and floorplans the property offers drew us to the opportunity. Along with our nearby property Signature Point, we look forward to continuing to grow our presence in the Houston MSA.”
The Park at Waterford Harbor Apartments was 96.5% occupied at buy. The community is located at 1420 Marina Bay Drive in the desirable Clear Lake submarket, approximately 35 minutes from Downtown Houston. The 200 units average 982 square feet with seven different floor plans. Community amenities include a fitness center, dog park, and a putting green. Unit amenities include granite countertops, stainless steel appliances, large closets, and washers and dryers in each unit.
HZ’s capital improvements will include site and building improvements, amenity updates, a unit renovation campaign to update 40 remaining classic units, and sustainability implementation. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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NORTHBROOK, IL – MZ Capital Partners, developer of the Vantage Naperville Apartments at 1350 E Ogden in Naperville, Illinois, has announced the sale of the 100 % leased 112-unit, full amenity apartment community. The sales price was $ 24,000,000 and the purchaser was an affiliate of New York based iconic property owner 601W Companies.
Other Chicago area properties owned by 601W include the Ancient Post Office redevelopment and Aon Center.
The award-winning ground up new construction development, which reached full occupancy in a record setting 90 days, sold approximately one year after receiving its building completion Certificate of Occupancy.
Situated at the gateway to the revitalized Ogden Area Corridor, the Vantage offers bright studio and 1-bedroom convertible apartments with 9-foot ceilings, in-home full-size washers/dryers, and stainless-steel appliances. Featuring private work from home office suites, 24/7 smart package delivery and pickup, high speed fiber optic internet connection, and balconies in select units, the Vantage represents high end urban style living in an attractive suburban setting.
The transaction was brokered by JLL Capital Markets in Chicago.

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MADRID, SPAIN – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing, has forward bought a substantial flexible accommodation portfolio of 2,500 units in Madrid, Spain, for a managed discretionary fund from King Street Real Estate GP, a leading global alternative investment firm that partnered with Greystar and Momentum REIM in 2019 to buy three sites to be used for flexible accommodation.
The highly innovative concept will comprise three buildings located in the north and south of the Madrid metropolitan area in Rivas, San Sebastián de los Reyes and Valdebebas. They will operate under a new brand that will be unveiled at a later date, and guests will benefit from purpose-designed rooms and superior amenities including a gym, co-working space, pool, outdoor space and a dedicated concierge service. The buildings, which are currently under construction, are targeting a BREEAM rating of “Very Excellent.”
Juan Acosta, Managing Director – Spain, Greystar, said; “The Madrid market is characterized by a significant under supply of all types of rental accommodation, including flexible and attainable solutions. The acquisition provides us with a portfolio of significant scale in this highly attractive city that will be purpose-designed and built for guests requiring a place to stay away from home.”
Paul Brennan, Managing Director and Head of European Real Estate, King Street, said, “The sale of this portfolio underscores King Street’s ability to successfully do on our strategy of delivering BREEAM “Very Excellent” rated alternative living assets in Spain, where we still see a significant opportunity to grow given the under provision of purpose-built institutional product in the market.”
King Street has committed over $4 billion of equity across 60 private real estate transactions since 2010. King Street has been investing in real estate in Spain since 2012. To date, King Street has directly and indirectly invested more than $1 billion of equity into real estate in Spain.
King Street was advised by Eastdil, Linklaters and Cuatrecasas. Greystar was advised by Jones Day, EY, Arcadis and Deloitte.

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