Hamilton Zanze Buys Multifamily Community in Houston Metro

The 200 units average 982 square feet with seven different floor plans
Hamilton Zanze Buys Multifamily Community in Houston Metro
Photo: Official

San Francisco-based real estate firm Hamilton Zanze has acquired the 200-unit Park at Waterford Harbor Apartments in Kemah, Texas. This represents HZ’s 26th acquisition in Texas.

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The community, built in 1996, is 29 miles southeast of Downtown Houston, which has become a headquarters hub for several Fortune 500 companies including Phillips 66, Sysco, and Hewlett Packard Enterprise.

“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 in a statement. “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 floorplans 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 Park at Waterford Harbor Apartments was 96.5% occupied at purchase. The community is located at 1420 Marina Bay Drive in the desirable Clear Lake submarket, approximately 35 minutes from Downtown Houston. The 200 units average 982 square feet with seven different floor plans. Community amenities include a fitness center, dog park, and a putting green. Unit amenities include granite countertops, stainless steel appliances, large closets, and washers and dryers in each unit.

HZ’s capital improvements will include site and building improvements, amenity updates, a unit renovation campaign to update 40 remaining classic units, and sustainability implementation. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

Photo: Official
Lisa Hay

Lisa Hay

Lisa is a staff reporter for What Now Media Group. She covers new restaurant, retail, and real estate openings across all of our markets. A true foodie, this Air Force veteran has lived all over the world — from Aviano, Italy to Nairobi, Kenya — but her favorite spot is NOLA for its rich history, architecture, culture, and of course, its good eats.
Lisa Hay

Lisa Hay

Lisa is a staff reporter for What Now Media Group. She covers new restaurant, retail, and real estate openings across all of our markets. A true foodie, this Air Force veteran has lived all over the world — from Aviano, Italy to Nairobi, Kenya — but her favorite spot is NOLA for its rich history, architecture, culture, and of course, its good eats.

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