ALBUQUERQUE, N.M. — PCCP LLC has formed a joint venture with Salt Lake City-based Bridge Investment Group LLC to purchase a three-property multifamily portfolio located in the northeast quadrant of Albuquerque. The 426-unit portfolio includes the 267-unit Suncreek Village Apartments, which is located at 9900 Spain Rd.; Sungate Village Apartments, a 94-unit multifamily complex located at 10800 Comanche Rd.; and Rancho Verde Apartments, a 65-unit community located at 5800 Truchas Dr. The portfolio consists of 229 one-bedroom units and 197 two-bedroom units. Joe Romero of Grubb & Ellis represented the buyer; Paul Cauwels and Barbara Haase of Cauwels & Stuve Realty & Development Advisors LLC represented the seller, partnerships formed by Cauwels and Davis Associates, in the transaction. The acquisition price was not disclosed.
PCCP LLC has partnered with Bridge Investment Group LLC to acquire a three-property, 426-unit multifamily portfolio, including Suncreek Village Apartments (above), located in Albuquerque, N.M.
JV ACQUIRES 426-UNIT APARTMENT PORTFOLIO
489
previous post