REBusinessOnline

New Mexico

Terrapin Investments & Management Corp. Buys Sheraton Albuquerque Airport Hotel

ALBUQUERQUE, N.M. — Terrapin Investments & Management Corp. has purchased the 276-unit Sheraton Albuquerque Airport Hotel for an undisclosed sum. The hotel is located at 2910 Yale Blvd. SE in Albuquerque. The property is the only lodging facility situated on airport grounds at Albuquerque International Sunport Airport. Sheraton Albuquerque Airport Hotel is located about five miles southeast of downtown Albuquerque, two miles south of the University of New Mexico and three miles west of..

August 22, 2017

Home2 Suites by Hilton Opens in Las Cruces

LAS CRUCES, N.M. — The 91-room Home2 Suites by Hilton has debuted in Las Cruces. The new hotel is located at 1120 N. Telshor Blvd. The property offers all-suite accommodations with fully equipped kitchens and modular furniture. It also features complimentary Internet and communal spaces. Trademark Home2 Suites amenities include Spin2 Cycle, a combined laundry and fitness area, Home2 MKT for grab-and-go items and the Inspired Table, a complimentary daily breakfast that includes more than..

August 9, 2017

Burger 21 to Open First Restaurant in New Mexico

ALBUQUERQUE, N.M. — Burger 21 will expand into New Mexico with the addition of an Albuquerque location set to open this October. The growing brand now has 22 open locations and 15 in development across 11 states. The new location is in the Winrock Town Center at 2100 Louisiana Blvd. in Albuquerque. The restaurant is 2,500 square feet with an additional 800 square feet of outdoor patio space. Chris Zalesiak owns the property. With 22 locations now open in Florida, Georgia, Illinois,..

July 31, 2017

Confluent Sells Two MorningStar-Operated Seniors Housing Communities in Southwest

WHEAT RIDGE, COLO., AND ALBUQUERQUE, N.M. — Confluent Senior Living, a subsidiary of Denver-based Confluent Development, has sold two of its seniors housing communities, MorningStar of Wheat Ridge and MorningStar of Albuquerque. Denver-based MorningStar Senior Living co-developed and will continue to operate both communities. Holliday Fenoglio Fowler (HFF) brokered the deal on behalf of the buyer, Harbert Seniors Housing Fund I LP. The price was not disclosed. Located in the Denver..

July 12, 2017

Albuquerque’s Office Market Struggles to Recover

The New Mexico office market heart is found in Albuquerque. During the first quarter of 2017, the Albuquerque office market has seen an increase in activity from local companies looking for newer and updated spaces, but not necessarily more space. The office market has been the last to see any type of recovery after the recession. The vacancy rate remains steady at about 21 percent. Continuing through 2017, we anticipate moderately positive absorption. Albuquerque remains over-built and..

June 13, 2017

CareTrust Enters New Mexico with $27.3M Acquisition of Two-Property Skilled Nursing Portfolio

ALBUQUERQUE, N.M. AND BROWNSVILLE, TEXAS — CareTrust REIT Inc. has acquired two skilled nursing facilities: The Rio at Cabezon, a 136-bed facility located in Albuquerque, and The Rio at Fox Hollow, a 126-bed facility in Brownsville, Texas. The purchase price was approximately $27.3 million, inclusive of transaction costs. The Albuquerque facility represents CareTrust’s entry into the New Mexico market. In connection with the acquisition, CareTrust REIT assumed the existing facility..

June 6, 2017

Albuquerque Multifamily Prices Rise on Heels of Rental Rate Increases

The New Mexico multifamily market, more specifically Albuquerque, recorded an impressively strong 2016 with vacancies dropping below 5 percent. Asking rents have increased for three consecutive years, fueling the investment market both in volume and prices. [caption id="attachment_181841" align="alignright" width="100"] Cynthia Meister, Colliers International[/caption] Employment grew by 2,700 jobs in Albuquerque last year. More than 2,000 of those were added in the fourth quarter, making..

June 6, 2017

Welbrook Nears Completion of 50-Bed Skilled Nursing Facility in New Mexico

LAS CRUCES, N.M. — Welbrook Senior Living expects to complete construction of 50-bed skilled nursing facility in Las Cruces, just north of El Paso, Texas, by the end of June. The property, which has not yet been named, will largely focus on short-stay rehabilitation. Partners on the funding, design and construction of the property include National Healthcare Development Inc., Northstar Commercial Partners, Lantz-Boggio Architects and Catamount Constructors. California-based Welbrook..

April 27, 2017

Tropical Smoothie Cafe Expands in New Mexico

ALBUQUERQUE, N.M. — Tropical Smoothie Cafe, a fast-casual restaurant, signed franchise agreements to develop more than 160 new cafes in the United States in 2016, closing out the year with 86 new restaurant openings. The company expanded the brand's presence most notably in Albuquerque, Charleston, S.C., Dallas and Houston. In 2017, the franchise plans to open 100 restaurants nationwide. By 2020, Tropical Smoothie Cafe aims to have 1,000 stores open across the U.S. Tropical Smoothie..

January 23, 2017

Westport, Integro Sell Montecito Santa Fe Seniors Housing Community

SANTA FE, N.M. — A joint venture between Westport Capital Partners and Integro Healthcare Consulting has sold Montecito Santa Fe, a 146-unit independent living and assisted living community in Santa Fe. Sabra Health Care REIT purchased the property for an undisclosed sum. The sellers originally purchased the property out of bankruptcy and repositioned it as a Class A asset. Integro will continue to operate the community after the change in ownership. Richard Swartz, Jay Wagner, Aaron..

November 30, 2016