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Hamilton Zanze Sponsors the Acquisition of Two Garden-Style Communities in Reno Area

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SAN FRANCISCO, July 10, 2025 ~ Hamilton Zanze, a well-known multifamily real estate investment firm based in San Francisco, has recently announced its sponsorship of the purchase of two apartment communities in the Reno, Nevada metropolitan area. The acquisitions, which closed on June 30th, 2025, include Lakeview and Sand Pebble/Spanish Oaks.

Sand Pebble/Spanish Oaks, located in Sparks, Nevada, boasts 448 one-, two-, and three-bedroom homes with a variety of amenities such as a clubhouse, swimming pool, sauna spa, laundry facilities, basketball and tennis courts, onsite fitness center and additional storage space. Hamilton Zanze sponsored this transaction through their HZ Capital Partners Fund I alongside joint venture partner New York Life Real Estate Partners. The management of these properties has been taken over by Mission Rock Residential, an affiliate of Hamilton Zanze. Both properties are situated within seven miles of each other.

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David Nelson, president and chief investment officer at Hamilton Zanze expressed his excitement about expanding their portfolio in Reno. He stated that the market has shown strong fundamentals with its business-friendly climate and limited multifamily supply pipeline. With recent investments from big companies like Amazon, Google and Tesla in the area, Nelson believes that Reno is well-positioned for sustained rent growth. He also mentioned their plans to add value to both assets through a strategic value-add program including unit renovations, building upgrades and enhancements to common areas and amenities.

Lakeview is located at 2600 East Shore Drive in Reno and offers 328 studio, one-, two- and three-bedroom homes overlooking Virginia Lake. The community is surrounded by multiple biking/jogging paths, golf courses and shopping centers with easy access to the Reno Convention Center. Amenities include a swimming pool, barbecue/picnic area, basketball court, onsite gym, laundry facility and playground. Each home comes equipped with air conditioning, high-speed internet and private patios or balconies.

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Sand Pebble/Spanish Oaks, situated at 1877 El Rancho Drive in nearby Sparks, features 448 one-, two- and three-bedroom homes. The two-story community, originally built in 1983, offers a resident clubhouse, swimming pool, sauna spa, laundry facilities, basketball and tennis courts, onsite fitness center and additional storage space. Apartment features include air conditioning, high-speed internet, washer/dryer hookups, fireplaces, walk-in closets and private patios or balconies.

Albert Pura, senior director of transactions for New York Life Real Estate Investors expressed his excitement about continuing their relationship with Hamilton Zanze. He stated that the opportunity to acquire these assets was very attractive due to the positive outlook for Reno and the initial basis of the properties. He also mentioned the multiple layers they plan to utilize to drive additional value.

These recent transactions mark Hamilton Zanze's third and fourth sponsored acquisitions of 2025. With their continued growth in the Reno market and strategic value-add plans for these properties, it is clear that Hamilton Zanze is committed to providing quality multifamily living options for residents in this area.
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