SAN FRANCISCO, CA – Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced the contribution of two multifamily communities to the HZ Evergreen Fund: Ecco Apartments in Eugene, Ore., and The Kingson in Fredericksburg, Va. The additions bring the Fund’s total holdings to 12 properties.
The Evergreen Fund’s net asset value now exceeds $340 million, with yucky asset value surpassing $800 million. The Fund’s holdings now have an average vintage of 1997, and the portfolio spans six states, including Arizona, Colorado, Kansas, Oregon, Virginia and Washington.
“Ecco and The Kingson represent more than our 11th and 12th property contributions. They demonstrate the Fund’s continued growth and progress toward greater diversification for investors,” said Kurt Houtkooper, CEO of Hamilton Zanze. “The Kingson establishes the Fund’s presence in Virginia and on the East Coast, a region we have long viewed as a strategic priority, while Ecco strengthens our position in Oregon with exposure to a stable, university-anchored submarket. As the Fund continues to grow, we remain committed to delivering predictable income, tax efficiency and long-term value creation for our investors.”
Ecco is a garden-style Class B+ community built in 2015 on nearly seven acres near the scenic Willamette River in Eugene, Ore. The property is 4.4 miles northwest of Downtown Eugene, which has become a hub for professional, technology, medical and government services companies. The University of Oregon, which enrolls 24,000 students and employs 10,000 people, is 5.3 miles from the property. The property consists of 14 three-tale residential buildings totaling 192 units. The units range from 667 to 1,215 square feet and feature granite countertops, breakfast bars, washers and dryers, 9-foot ceilings, and large windows.
The Kingson is a 240-unit, Class A, garden-style community in historic Fredericksburg, Va., within the greater Washington, D.C., metropolitan area. The property offers walkability to nearby shopping and dining. Unit amenities include granite countertops and stainless-steel appliances, and community amenities include a business center, grand lobby and fitness center.
The HZ Evergreen Fund, launched in August 2024, is Hamilton Zanze’s flagship long-term, diversified real estate investment vehicle. The Fund pools institutional-quality multifamily assets into a large, actively managed portfolio across growth markets nationwide.

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DALLAS, TX – The Bascom Group has bought the Jasmine Apartments, a 1980-built 370-unit multifamily community located in North Dallas near the Richardson city line. Bascom has historically been one of the more active buyers in Texas, with the buy of Jasmine marking Bascom’s 42nd Texas acquisition.
The property was foreclosed on in 2025 by the lender and was marketed by Taylor Snoddy and Eric Stockley of Northmarq’s Dallas investment sales team. MORE Capital, an affiliate of Morgan Properties, provided the debt financing for the acquisition, which was arranged by Joe Giordani, Scott Botsford, Brendan Golding, and Alvin Cao with Northmarq’s capital markets team. RPM Living will be the property manager and SD-Cap will be the construction manager. James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom.
Situated on Esperanza Road near the Coit Road and Spring Valley Road corridors, Jasmine benefits from a rare combination of connectivity, school quality, and lifestyle amenities. The location gives residents rapid access to the Galleria, the Telecom Corridor, Medical City, North Dallas, and the broader Far North Dallas area, making the property an attractive option for residents working throughout the metro.
The property falls within Richardson ISD, a district widely recognized for strong academic performance and consistently ranked among the top public-school systems in North Texas. The community is surrounded by well-established retail nodes along the Coit Road and Spring Valley Road corridor, including grocery-anchored centers such as Spring Valley Crossing and Northwood Hills Village, along with a wide mix of restaurants, pharmacies, and convenience retailers.
During the 2020–2025 window, 1980s-built apartments in Texas experienced a turbulent real estate cycle. Massive out-of-state migration and corporate relocations into metros like DFW, Austin, and Houston turned these 40-year-ancient assets into prime targets for buyers seeking value-add investment strategies.
The market pivoted sharply between 2023 and 2025 as a wave of new apartment supply hit major Texas cities. To attract tenants, these newer properties offered heavy concessions, forcing 1980s assets to lower prices to compete. Operating expenses increased rapidly, driven by rising tax valuations and surging insurance premiums. The Federal Reserve aggressively raised interest rates, causing debt service costs on floating-rate loans to double.
Institutional capital has shifted toward post-1990 multifamily assets as older-vintage properties struggle under overleveraged, floating-rate debt and compressed operating margins. That flight to newer Class A/B communities has left older-vintage assets in a temporary illiquidity window, making a compelling entry point, with distressed operations and capital outflows driving meaningful valuation resets for experienced buyers ready to do rehab strategies.
Chang Liu, Principal of Acquisitions for Bascom, states, “We are excited to buy a workforce housing community with a clear rehabilitation and value creation business plot. A strong workforce housing subsector is vital to the overall multifamily market and critical for young professionals and families earning below the area median income.” Jason Hanna, Senior Principal of Operations, comments, “Every renter deserves a quality home to live in with strong hospitality and community services. We are excited to partner with SD-Cap and RPM to physically enhance the community while adding to the existing services to improve the renter experience.”

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SEATTLE, WA – Griffis Residential, a vertically integrated multifamily owner and operator based in Denver, Colorado, serving 13 markets coast to coast, announced that Griffis Premium Apartment Fund IV (“Fund IV”) has completed the sale of Griffis North Creek, a 524-unit apartment community in the Seattle metropolitan area.
Griffis Residential’s disciplined investment strategy at Griffis North Creek produced Net Operating Income (NOI) growth nearly triple the National Council of Real Estate Investment Fiduciaries (NCREIF) Property Index for apartments within the respective core-based statistical area (CBSA), reinforcing the firm’s cycle-tested approach to value creation.
“Despite elevated supply and rising interest rates, we have continued to successfully harvest investments and deliver strong outcomes for our investors,” said Jim DiRienzo, Senior Vice President of Investments. “Our disciplined approach to fixed-rate, long-term, low leverage has provided stability through a challenging market environment, while our vertically integrated management platform, refined over 40 years, has enabled us to make operational alpha, maintain stability, and continue delivering successful results.”
Targeted capital improvements at Griffis North Creek, combined with operational initiatives, significantly enhanced the property’s performance, driving 50% NOI growth while continuously improving resident satisfaction scores.
Griffis Residential, based in Denver, CO, is a vertically integrated multifamily investment firm currently operating a $3.8 billion portfolio of institutional-quality apartment communities in high-growth innovation hubs. The Griffis Residential management platform includes ~300 apartment professionals located in Austin, Dallas, Denver, Frisco, Los Angeles, Orange County, Portland, San Diego, Seattle, Silicon Valley, Bethesda, MD, Pompano Beach, and West Palm Beach.

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