Hamilton Zanze Announces Sale of Indigo 19 Multifamily Community in Virginia Beach

Firm owned the garden-style, 196-unit community for more than six years

SAN FRANCISCO--(BUSINESS WIRE)--Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced the sale of Indigo 19, a 196-unit Class A apartment community in Virginia Beach, Va. Hamilton Zanze sponsored the acquisition of the property in January 2020.

“We’re pleased with the sale of Indigo 19 following a competitive process that delivered a positive outcome for our investors,” said Anthony Ly, senior director of transactions at Hamilton Zanze. “Limited new supply and rent growth have supported the Virginia Beach apartment market, creating a favorable environment for multifamily investment.”

Located at 1940 Pavilion Drive, Indigo 19 was built in 2013 and features one-, two- and three-bedroom apartments averaging 931 square feet. The property is within walking distance of the Virginia Beach oceanfront and approximately 17.3 miles from downtown Norfolk, with convenient access to Interstate 264 and U.S. Route 58.

During its ownership, Hamilton Zanze implemented a capital improvement program that included roof maintenance and repairs, fire and life-safety improvements, HVAC work, exterior improvements and sustainability initiatives. The firm also renovated apartment homes with upgrades including vinyl plank flooring and tile backsplashes and refreshed community amenities in the clubhouse.

Indigo 19 offers residents granite countertops, stainless steel appliances, open-concept designs, private patios and balconies, nine-foot ceilings and full-size in-unit washers and dryers. Community amenities include a resort-style pool, two-story clubhouse, fitness center, business center, grilling stations and bicycle storage.

The property is located near major area employers, including Naval Air Station Oceana-Dam Neck, Sentara Healthcare, Joint Expeditionary Base Little Creek-Fort Story and GEICO.

The sale represents Hamilton Zanze’s second disposition of 2026. The firm has sold more than $4.5 billion in multifamily properties since its founding in 2001.

About Hamilton Zanze

Hamilton Zanze is a private, San Francisco-based real estate investment firm that invests with the highest standards. Since its founding in 2001, Hamilton Zanze and its affiliates have completed a total transaction volume of $14.9 billion in multifamily assets. The portfolio currently comprises 87 ventures and 24,916 units across 29 markets nationwide. For additional information, visit hamiltonzanze.com.