ST LOUIS, MO – San Francisco-based real estate firm Hamilton Zanze (HZ) partnered with an affiliate of Cantor Fitzgerald, L.P. to buy the 160-unit Tribeca apartment community in St. Louis, Missouri from seller Lux Living. The buy marks Hamilton Zanze’s first acquisition in the St. Louis metro.

“Tribeca offered a unique opportunity to buy a phenomenally built product with state-of-the-art amenities at an attractive basis,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “The property benefits from its proximity to Washington University, St. Louis and the BJC Medical Center, the largest medical facility in metro St. Louis and one of the highest-rated medical centers in the nation. Colliers, specifically Will Matthews, exceeded our expectations, and we look forward to working on our next deal together soon.”

Built in 2018, Tribeca had a 100% occupancy rate at the time of buy. The community is located at 5510 Pershing Avenue, just over a mile from Washington University in St. Louis. The 160 units feature high-end interior finishes, including stainless steel appliances, white cabinets, quartz countertops, faux wood flooring, tiled walk-in showers, deluxe rain shower heads, and smart home technology. Desirable community amenities include a delivery robot, state-of-the-art fitness center, pet park and spa, indoor and outdoor game areas, concierge services, self-serve beer on tap, and a saltwater pool.

“We are thrilled to partner with Hamilton Zanze on another acquisition,” stated Ken Carpenter, managing director, Cantor Fitzgerald. “By leveraging HZ’s deep acquisition relationships, we continue to grow our joint platform of well-located, high-quality multifamily properties in growing markets.”

Tribeca is about five miles west of Downtown St. Louis in the St. Louis City submarket of the St. Louis apartment market. The region’s low cost of living and location in the central U.S. make it a desirable destination for relocating businesses, and the metro’s highly educated workforce is fed by the area’s nearly 40 colleges, universities, and technical schools.

Management of the property has been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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HOUSTON, TX – ClearWorth Capital announced the acquisition of Steeplecrest Apartments, a 260-unit multifamily property located in the Jersey Village / Cypress area, a prominent suburb in northwest Houston.  Steeplecrest is located at 11220 West Road near major roadways, including Highway 290, Beltway 8 and F.M. 1960.

The project, built in 1993, is in a desirable location with high-rated schools, significant retail within walking distance, and brilliant access to nearby employment centers, as well as highways that connect to the broader Houston area.

“Steeplecrest presented an ideal investment for us.  It was an attractive price for a property in fantastic shape in a fantastic location, but still with a lot of potential for upgrades that will appeal to renters,” said Matthew Stone, Managing Partner of ClearWorth. “The rents in the area are strong as well.  This particular area of Houston has not experienced the recent wave of new supply, and the limited pipeline of deliveries bodes well for continued rent growth.”   

The ClearWorth team will soon implement a signification transformation of the asset, including a complete redesign of the clubhouse, unit interiors, building exterior, and landscaping. 

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VIRGINIA BEACH, VA – ROSS Companies, a leader in multifamily property management, acquisition and renovation in the Mid-Atlantic region, announced the acquisition of The Hamptons Apartments, a 212-unit community in Virginia Beach, Va. in partnership with Realty Mogul. ROSS Management Services will manage the community, and will oversee a renovation program to include common-area and interior improvements.

“We are excited about the acquisition of The Hamptons Apartments,” said Dave Miskovich, CEO of ROSS Companies. “It’s located in a thriving submarket and offers residents access to a comfortable and exciting lifestyle. With all that the community has to offer, we are confident that The Hamptons will become the first choice for residents seeking a best-in-class living experience in this submarket. It is clearly well positioned for long-term success.”

ROSS will implement a more consumer-friendly operational strategy and revamp the community’s digital marketing efforts to better position The Hamptons to meet the demand for quality housing in Virginia Beach.

“Our management will focus on enhancing the lifestyle of our residents with a customer- and technology-centric approach,” said Miskovich. “As with all communities we manage, we will build strong personal relationships with our residents, focusing heavily on customer satisfaction to make living at The Hamptons Apartments a truly outstanding experience.”

Situated at 5781 Lake Edward Drive, The Hamptons Apartments boasts a convenient location close to everything Virginia Beach has to offer. The community is just minutes from the new Virginia Tide Light Rail as well as the Navy Amphibious Base (NAB) at Small Creek, the Naval Air Station (NAS) Oceana and Virginia Wesleyan University. The Hamptons is also close to numerous shops, restaurants, schools and parks.

The Hamptons features one, two, and three-bedroom apartments and townhomes, ranging in size from 850 to 1300 square feet.  Community amenities at The Hamptons include a pool with sundeck. playground, package receiving, and simple access to the beach.

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