REBusinessOnline

Capital One Provides $11.3M HUD Refinancing for Assisted Living Community in New Mexico

CLOVIS, N.M. — Capital One has provided a $11.3 million HUD refinancing for Wheatfields Senior Living Community, a 101-bed assisted living facility in Clovis, near the Texas border. Wheatfields opened in 2008 as five detached independent living cottages. The assisted living building was added in 2011. The transaction allows the borrower to replace bank debt with long-term financing and recoup capital expenditures on the property. Joshua Rosen of Capital One originated the fixed-rate loan, …

CFH Investment Partners Buys 456-Unit Apartment Complex in Albuquerque

ALBUQUERQUE, N.M. — CFH Investment Partners has purchased the 456-unit Diamond Mesa apartment community in southwest Albuquerque for an undisclosed sum. The community is located at 2300 Diamond Mesa Trail SW. Diamond Mesa was built in 2015. It is situated near one of six Facebook data centers currently under construction just south of Albuquerque. Property amenities include a social lounge with game tables, resort-style pool area, fitness facility, business center and a barbeque grilling …

MorningStar, Confluent Start Construction of 77-Unit Seniors Housing Community Near Albuquerque

RIO RANCHO, N.M. — Co-developers MorningStar Senior Living and Confluent Senior Living have broken ground on MorningStar of Rio Rancho, a 77-unit assisted living and memory care community in the Albuquerque suburb of Rio Rancho. The 70,863-square-foot development will be situated on 5.5 acres. It will feature 51 assisted living suites and 26 memory care suites. The co-developers plan to open an information center onsite by May 2018, and complete construction in December 2018. The …

CFH Investment Partners Buys 456-Unit Apartment Complex in Albuquerque

ALBUQUERQUE, N.M. — CFH Investment Partners has purchased the 456-unit Diamond Mesa apartment complex near downtown Albuquerque for an undisclosed sum. The community is located at 2300 Diamond Mesa Trail SW. Diamond Mesa was built in 2015. Amenities include a social lounge with game tables, resort-style pool area, fitness facility, business center and a barbeque grilling area. The community is situated near one of six Facebook data centers currently under construction just south of …

Campus Advantage to Manage 252-Bed Community Near New Mexico State University

LAS CRUCES, N.M. — Campus Advantage has been awarded management of The Flats at Ridgeview, a 252-bed student housing community located near New Mexico State University and the Burrell College of Osteopathic Medicine in Las Cruces. The property is currently under development, and is set to open in fall 2018. The garden-style community will feature one- and two-bedroom units. Shared amenities will include a pool, fitness center, four study rooms, a conference room, clubhouse and game

National Healthcare Development Completes 50-bed Skilled Nursing Facility in Las Cruces

LAS CRUCES, N.M. — National Healthcare Development, an affiliate of National Healthcare Realty, has completed the development of Welbrook Las Cruces, a 50-bed skilled nursing facility in Las Cruces, approximately 40 miles north of El Paso, Texas. The 37,000-square-foot facility is located near Mountain View Medical Center. Welbrook Senior Living, a Utah-based provider, operates the property. This will be Welbrook’s first facility to open in New Mexico, while a second facility is also …

MorningStar, Confluent Begin Construction of 85-Unit Seniors Housing Community in Santa Fe

SANTA FE, N.M. — Co-developers MorningStar Senior Living and Confluent Senior Living have broken ground on MorningStar of Santa Fe, an assisted living and memory care community in Santa Fe. The 71,000-square-foot property will feature 56 assisted living suites and 29 memory care suites. The community will be located on four acres within a mixed-use development known as the St. Francis Drive Corridor. The project represents the 10th joint venture between Denver-based developer, owner and …

Welbrook Starts Construction of Rehab Facility in New Mexico

FARMINGTON, N.M. — Welbrook Senior Living has started construction of its second transitional rehabilitation facility, located in Farmington in the northwest corner of New Mexico. Welbrook partnered with Embree Asset Group, a development company based in Texas, to build the 50-bed property. Welbrook expects to begin accepting patients in late

Marriott SpringHill Suites in Las Cruces Changes Hands

LAS CRUCES, N.M. — The 101-room Marriott SpringHill Suites in Las Cruces has sold to a California-based investor for an undisclosed sum. The hotel is located at 1611 Hickory Loop. The property is situated near New Mexico State University, Downtown Mall, Las Cruces Conventions Center, Memorial Medical Center and White Sands Missile Range. The buyer owns and operates a hotel portfolio throughout the Southwest under major brands including Marriott and Hilton. Mike Armstrong of HREC …

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 …