Hamilton Zanze has sold Copper Mill Apartments in the Northwest Richmond submarket of Richmond, Va., metropolitan area. A sales price and name of the buyer were not disclosed.
Hamilton Zanze acquired the property in 2018. During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated unit interiors and amenities to improve leasing efforts and increase rental rates.
“Copper Mill was one of the first assets we acquired in the Northeast. This sale represents our first full-cycle investment in the state of Virginia,” said Anthony Ly, senior director of dispositions at Hamilton Zanze. “We are pleased to have executed on our business plan, which included improving management and upgrading unit interiors, ultimately allowing HZ to deliver a solid return to our investors.”
Copper Mill was built in 1987 and is located at 3400 Copper Mill Trace. The property comprises 192 one- and two-bedroom units avera
