Hamilton Zanze purchases Houston multifamily apartment community

by Lindsey Wells

San Francisco-based real estate firm Hamilton Zanze has acquired the 200-unit Park at Waterford Harbor Apartments, marking the company’s 26th acquisition in Texas, according to a press release.

The community, built in 1996, was 96.5% occupied at the time of purchase. Located at 1420 Marina Bay Dr. in Kemah, Park at Waterford Harbor consists of 200 units averaging 982 square feet.

Unit amenities include granite countertops, stainless steel appliances, large closets and in-unit washers and dryers. Community amenities include a fitness center, dog park and putting green.

“We are very excited to add Park at Waterford Harbor to our portfolio and add another asset in the Clear Lake submarket,” said David Nelson, Hamilton Zanze’s chief investment officer. “Its appealing location on the Kemah Harbor, proximity to NASA’s Johnson Space Center, other strong job drivers in the Houston metro and the wide range of amenities and floor plans the property offers drew us to the opportunity. Along with our nearby property Signature Point, we look forward to continuing to grow our presence in the Houston MSA.”

The release noted that the company plans to make several improvements to the property, including site and building improvements, amenity updates, unit renovations and sustainability implementation.

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