What Prompted Hamilton Zanze to Sell Big

Investors everywhere want a piece of Phoenix's sizzling multifamily market, which has prompted Tony Zanze to put over 1,000 Tuscon apartment units on the market. He'll be joining us Tuesday for our first-ever Phoenix Multifamily and Condo Revolution event at the Omni Montelucia Scottsdale to tell us how they're taking advantage of all this capital.

Investors are willing to spend big for apartments here, the Hamiton Zanze co-founder tells us. "Right now, it's definitely a seller's market," he says. Which is perfect for Tony's business plan; he says his firm's goal is always a three- to five-year hold period, which these apartments fall into. (Colliers' Cindy Cooke, whom we spoke with last week, will broker the deals.)

But that doesn't mean Hamilton Zanze isn't opening its own wallet. Tony says it's under contract to pick up Los Arboles (with NY Life) in Chandler for an undisclosed sum. And it looks to acquire $250M in properties this year, mainly in Nevada, Arizona, and SoCal. Even with today's pricing, if you can pick up an apartment around a 6% cap and sell at 5.5% cap, you're still making money, he says. Join Tony and other top experts at our Phoenix Multifamily and Condo Revolution event this Tuesday, Sept. 30 starting at 7:30am. Great networking too! Sign up here.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Phoenix Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

King Of Prussia Pursues Stadium To Anchor $200M Mixed-Use Complex

Empire State Building Observation Deck Hemorrhaging Visitors, Value