HOUSTON, Dec. 22, 2021 /PRNewswire/ — San Francisco-based real estate investment firm Hamilton Zanze is pleased to announce the sale of Ravinia Apartments in the desirable Spring/Tomball submarket of Houston, Texas. The firm purchased the property in 2015 and the sale closed on December 16, 2021.
During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated unit interiors and amenities to improve leasing efforts and increase rental rates.
"The Ravinia investment demonstrates Hamilton Zanze’s strategy of identifying investment opportunities in markets like Houston and increasing the value through unit renovations, property upgrades, and improving management," said Anthony Ly, director of dispositions at Hamilton Zanze.
Ravinia was built in 200 and is located at 2400 Spring Rain Drive in Spring, Texas. The property comprises 232 one-, two-, and three-bedroom units averaging 909 square feet. The community is pet-friendly and has a resort-style pool and spa, 24-hour fitness center, entertainment room with billiards table, picnic area with barbecues, covered parking, and a dog park.
Ravinia is in the Spring/Tomball submarket of the Houston metro area. The community is near Interstate 45 and the George Bush Intercontinental Airport, which provides nonstop flights to domestic and international destinations. The property is less than a 30-minute drive (21.4 miles) from Downtown Houston, which is abundant with entertainment options for residents and visitors. The Houston metro area is the largest economic and cultural center of the American South. The local Spring economy is supported by energy, technology, financial/professional services, and health care industries.
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 $5.3 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 132 across 17 states. For additional information, visit www.hamiltonzanze.com.
SOURCE Hamilton Zanze