Hamilton Zanze Acquires Multifamily Community in Chattanooga for $63.2M

CHATTANOOGA, TENN. — Hamilton Zanze Properties has acquired Bluebird Row Apartments, a 283-unit multifamily community in Chattanooga. The sales price was not disclosed, but the Chattanooga Times Free Press reports the San Francisco-based buyer paid $63.2 million, or $223,145 per unit, for the complex. The local newspaper also reports the seller was the development firm that delivered the property in 2019, Birmingham, Ala.-based Choo Choo Residences LLC, a subsidiary of LIV Development LLC. The property comprises four buildings and offers studio, one-, two- and three-bedroom floor plans averaging 935 square feet. Communal amenities include a pool, rooftop lounge, 24-hour self-serve market, outdoor grilling stations, rock climbing wall, bocce ball court, pet spa and a yoga studio. Mission Rock Residential will manage the community.