80s-Era Complex Gets Makeover and New Owner

Former owner Hamilton Zanze implemented more than $3 million in capital improvements.

MESA, AZ—Built in 1985, Gateway on Gilbert is a 432-unit apartment community located at 1710 S. Gilbert Rd., approximately 20 miles southeast of Downtown Phoenix and at the center of several business corridors. During an ownership period of almost three years, San Francisco-based real estate investment company Hamilton Zanze implemented more than $3 million in capital improvements, including 216 unit upgrades, an extensive roof replacement and clubhouse remodel.

Hamilton Zanze and New York-based joint venture partner Dome Equities recently sold Gateway on Gilbert Apartments to Capital Real Estate LLC for an undisclosed price. At the time of sale, occupancy of the class-B asset was 96%. ARA Newmark represented the sellers.