Multifamily investment firm Hamilton Zanze purchased the Springs at Deer Valley apartments in Phoenix with plans to rebrand the community as the Ironwood at Happy Valley. The investment is Hamilton Zanze’s seventh property acquisition in Arizona.

Located at 24025 N. 23rd Ave. in Deer Valley, the 296-unit complex includes outdoor social areas and on-site car maintenance, as well as a pool, fitness center and pet park. Units have an average of 1,002 square feet and include patios/balconies, in-unit washers and dryers and walk-in closets. The apartments in the community are spread across 12 two-story buildings.

“We are excited to further expand our presence in Phoenix with the purchase of this community,” said Hamilton Zanze Chief Investment Officer, David Nelson. “The brand-new, garden-style asset features institutional-quality amenities, an ideal location in the booming Deer Valley submarket, convenient proximity to the Shoppes at Norterra and Happy Valley Towne Center and access to the largest employers in North Phoenix.”

Nelson added: “We believe Ironwood at Happy Valley will be an asset to the local community for years to come.”

Management of the property will be handled by Mission Rock Residential, an affiliate of Hamilton Zanze.