Hamilton Zanze Sells 196-Unit Indigo 19 Apartments in Virginia Beach

Hamilton Zanze announced the sale of Indigo 19, a 196-unit apartment community in Virginia Beach, Virginia. The San Francisco-based multifamily investment firm acquired the property in January 2020.

The sale followed a competitive process, according to Anthony Ly, senior director of transactions at Hamilton Zanze. “We’re pleased with the sale of Indigo 19 following a competitive process that delivered a positive outcome for our investors,” Ly said. “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, the community was built in 2013 and offers 1-bedroom, 2-bedroom, and 3-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 access to Interstate 264 and U.S. Route 58.

During ownership, Hamilton Zanze implemented capital improvements including roof maintenance and repairs, fire and life-safety improvements, HVAC work, exterior improvements, and sustainability initiatives. The firm renovated apartment homes with upgrades including vinyl plank flooring and tile backsplashes and refreshed clubhouse amenities.

Apartment features include granite countertops, stainless steel appliances, open-concept designs, private patios and balconies, 9-foot ceilings, and full-size in-unit washers and dryers. Community amenities include a resort-style pool, 2-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 transaction represents Hamilton Zanze’s second disposition of 2025. The firm has sold more than $4.5 billion in multifamily properties since its founding in 2001.