Real estate investment firm Hamilton Zanze, based in San Francisco, has sold Sierra Sun apartments in Puyallup, WA for an undisclosed sum. The multifamily property is located in South Hill of Pierce County and was purchased by the firm back in May 2014.
During their nine-year ownership period of the property, Hamilton Zanze completed various renovations to make it run more efficiently such as unit renovations, landscaping repairs and improvements to amenities like pool & spa areas as well as lighting enhancements with a dog park addition.
Anthony Ly – Senior Director of Dispositions at Hamilton Zanze commented on the successful sale: “We are very pleased with how Sierra Sun performed over our ownership period; strong rent growth coupled with being a cost-effective alternative compared to other urban areas within Washington state” He further added that “transacting during this market was not without its challenges but thanks to Kidder Mathews’ strong marketing efforts we were able select a buyer who could navigate these conditions successfully”
