ATLANTA, GA – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought the 204-unit 45Eighty Dunwoody Apartment Homes in Dunwoody, Georgia. HZ bought the property from FPA Multifamily, LLC, who was represented by Cushman & Wakefield.
The buy marks the firm’s sixth acquisition in the Atlanta market. The community, built in 1990, is in immediate proximity to Georgia State Route 400 and I-285N, providing access to Downtown Atlanta and regional employers.
“We’re really excited about the opportunity to buy in the Atlanta market again and to further expand our presence in the growing metro,” said David Nelson, Hamilton Zanze’s chief transactions officer. “45Eighty is conveniently located with simple access to Buckhead, Midtown, Downtown Atlanta, and other major employment centers. Residents are attracted to the Dunwoody area for its strong schools, nearby outdoor recreation, and proximity to employers.”
45Eighty was 96.0% occupied at the time of buy. The community is located at 4580 Barclay Drive in the desirable Dunwoody submarket, approximately 20 minutes from Downtown Atlanta. The 204 units average 946 square feet with 14 different floor plans. Community amenities include a swimming pool, fitness center, clubhouse, business center, and package receiving center.
HZ’s capital improvements will focus on continuing the interior unit renovation plot implemented by the seller. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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HAMILTON, NJ – Total construction starts fell 3% in July to a seasonally adjusted annual rate of $854.8 billion, according to Dodge Data & Analytics. There were few bright spots during the month, with all three sectors (residential, nonresidential building and nonbuildings) moving lower in July.
Construction material prices continue their march higher and are weighing heavily on construction starts, stated Richard Branch, Chief Economist for Dodge Data & Analytics. Lumber and copper prices have fallen in recent weeks; but, steel, plastic and other construction-related products are continuing their ascent. These increases will continue to impact construction starts over the coming months, somewhat muting the impact of stronger economic activity. A further risk to the sector is the rising number of COVID-19 cases due to the Delta variant. While we don t expect significant business restrictions in response, it is a risk that cannot be fully discounted. On the upside, projects entering the plotting stage remain at levels not seen in several years and forward progress on an infrastructure program and the federal budget provides hope that brighter days are ahead.
Below is the full breakdown:
Nonbuilding construction starts fell 1% in July to a seasonally adjusted annual rate of $171.0 billion. Starts in the environmental public works category dropped 25% following a large gain in June. Meanwhile, highway and bridge starts advanced in July, increasing 11% and utility/gas plant starts rose 25%. Miscellaneous nonbuilding starts were flat. On a year-to-date basis, total nonbuilding starts were 2% higher through July. Environmental public works starts were up 35% and utility/gas plant starts rose 5%. Highway and bridge starts and miscellaneous nonbuilding starts were both lower on a year-to-date basis, losing 4% and 19% respectively.
For the 12 months ending July 2021, total nonbuilding starts were 2% lower than the 12 months ending July 2020. Environmental public works starts were 32% higher, while utility and gas plant starts were down 18%. Highway and bridge starts were up 1% and miscellaneous nonbuilding starts were 25% lower through the first seven months.
The largest nonbuilding projects to break ground in July were the $728 million I-6 project in Indianapolis, IN, the $315 million Kew Lake Water Supply project in Enid, OK, and the $300 million Cavalier Solar Farm in Surry County, VA.
Nonresidential building starts fell 1% in July to a seasonally adjusted annual rate of $283.8 billion. Commercial starts lost 19% during the month as starts pulled back in the warehouse, office and retail sectors, while hotel starts rose. Institutional starts rose 11% during the month due to gains in healthcare, recreation and transportation, while education starts fell. Manufacturing starts posted a solid gain in the month, nearly doubling from June s level. Through the first seven months of 2021 nonresidential building starts were 4% higher when compared to the first seven months of 2020. Commercial starts were up 5% and manufacturing starts rose 45%, while institutional starts were 1% lower.
For the 12 months ending July 2021, nonresidential building starts were 8% lower than the 12 months ending July 2020. Commercial starts were down 8%, while institutional starts fell 5%. Manufacturing starts dropped 26% in the 12 months ending July 2021.
The largest nonresidential building projects to break ground in July were the $1.5 billion JP Morgan Office Tower in New York, NY, the $1 billion Inglewood basketball arena in Los Angeles, CA, and the $825 million REG Geismar Biofuels Plant in Geismar, LA.
Residential building starts fell 6% in July to a seasonally adjusted rate of $400.0 billion. Single family starts lost 6% in July, while multifamily starts dipped 4%. Through seven months, residential starts were 30% higher than the same period one year ago. Single family starts were up 34%, while multifamily was 19% higher.
For the 12 months ending July 2021, total residential starts were 23% higher than the 12 months ending July 2020. Single family starts gained 29%, while multifamily starts were up 8% on a 12-month sum basis.
The largest multifamily structures to break ground in July were the $223 million second phase of the Sendero Verde project in New York, NY, the $203 million Chestnut Commons in Brooklyn, NY, and the $194 million 100 Flatbush mixed-use project in Brooklyn, NY.
Regionally, July s starts rose in the Northeast, Southeast and Midwest regions, but fell in the South Atlantic and West regions.

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FORT WORTH, TX – Sherman Residential announced its acquisition of 26 at City Point apartments, a 2020-constructed Class A+ multifamily community located in North Richland Hills, Texas. The 270-unit property is located in between Dallas and Fort Worth, one of the nation s leading centers for employment. Dallas-Fort Worth consistently ranks high among metropolitan areas for job creation and holds an unemployment rate much lower than the national average.
With 26 at City Point conveniently located within 20 minutes of both city centers and the DFW International airport, residents have access to top employers, including Texas Instruments, Fidelity Investments, Lockheed Martin, and major airlines. Furthermore, the North Richland Hills neighborhood presents a growing mix of new dining, retail, and culture destinations, plus admission to the top-rated Birdville Independent School District.
The newly constructed, garden-style property raises premium standards in the DFW market and offers a luxurious mix of amenities, including: One- and two-bedroom homes with elevator and air-conditioned corridor access; Privacy conveniences such as individual garages or assigned carports, in-unit washers and dryers, controlled-access gates, personal patios/balconies and yards, complimentary virtual fitness memberships, and daily valet trash service; Thoughtfully designed spaces to gather safely in its premium business center with secluded workstations, modern gaming room boasting four hubs, two outdoor kitchens for hosting, and socially distanced hammocks and lounges set in an expansive courtyard; Comprehensive community amenities, such as a 24-hour state-of-the-art fitness center with spin room, rec room for traditional gaming, resort-style pool, and fenced-in pet park; Modern accessibility and functional features, including smart locks and digital thermostats, from the 2020 build.
Sherman Residential bought and assumed management of the property. Scott Gould, Sherman s Senior Vice President, states:
The acquisition of 26 at City Point Apartments continues our firm s long-term commitment to investing in the Dallas-Fort Worth metropolitan area. We look forward to continuing to pursue the acquisition of additional high-quality multifamily properties in the market.

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