ATLANTA, Aug. 16, 2021 /PRNewswire/ — San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 204-unit 45Eighty Dunwoody Apartment Homes in Dunwoody, Georgia. HZ purchased the property from FPA Multifamily, LLC, who was represented by Cushman & Wakefield.
The purchase 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 easy 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 purchase. 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 plan implemented by the seller. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.
To learn more about 45Eighty Dunwoody Apartment Homes, please visit www.45eightydunwoody.com.
ABOUT HAMILTON ZANZE
Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $5.1 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 93 properties (22,529 units) across 15 states and 29 markets. For additional information, visit www.hamiltonzanze.com.
ABOUT FPA Multifamily, LLC
The seller is an affiliate of FPA Multifamily, LLC. FPA Multifamily, LLC is a private equity real estate firm focused on the acquisition, renovation, and management of both core-plus and work force housing apartment communities. Founded in 1985, FPA has owned over 130,000 apartment units valued at over $15.0 billion. FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VII which will acquire approximately $3.0 billion of assets and its core-plus focused FPA Core Plus Fund V which will acquire approximately $1.9 billion of assets. Headquartered in San Francisco, FPA also has offices in Atlanta, Chicago, Dallas, Denver, Irvine, Minneapolis, and Washington DC. For more information, please visit www.fpamf.com.
SOURCE Hamilton Zanze