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Hamilton Zanze Takes Two Apartment Communities for $45M

AURORA, CO-Companies created by Bay-area Hamilton Zanze acquire the 351-unit Trails Aurora for $74,715 per unit and the 226-unit Ironwood at the Ranch Apartment at Westminster for $84,181 per unit. The Westminster property is 94% to 95% occupied, while the Aurora development is 98% occupied.

By John Rebchook | Updated on April 15, 2006

(To read more on the multifamily market, click here.)

AURORA, CO-Through its subsidiaries, Hamilton Zanze of San Francisco recently paid $45.25 million for two suburban apartment communities. The previous owners of both properties were companies created by Chicago-based Equity Residential, one of the nation’s largest apartment real estate investment trusts.

Through a company called Trails Aurora LLC, Hamilton Zanze paid $26.23 million, or $74,715 per unit, for the 351-unit Trails Aurora at 121 S. Joliet Circle. In the second deal, Ironwood Westminster LLC paid $19.03 million, or $84,181 per unit, for the 226-unit Ironwood at the Ranch Apartment at Westminster, 11705 Decatur St. Both of the communities were built in 1986. The Marcus & Millichap team of Dave Potarf and Dan Woodward handled both transactions.

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