REBusinessOnline

Phillips Edison Sells 74,393 SF Juan Tabo Plaza in Albuquerque

ALBUQUERQUE — Phillips Edison & Co. has completed the sale of Juan Tabo Plaza, an institutional-quality shopping center located at 11000 Montgomery Road NE in Albuquerque. Samco Properties purchased the asset for an undisclosed price free and clear of existing debt. Anchored by Walmart Neighborhood Market, Juan Tabo Plaza features 74,393 square feet of institutional-quality retail space in a mix of grocery, hair salon, restaurants, tax preparation and health tenants. The property has …

Acquisitions, New Mexico, Retail, Western

Thayer Manca Residential Buys, Renovates Two Apartment Communities in Albuquerque for $60M

ALBUQUERQUE — Seattle-based Thayer Manca Residential has entered the New Mexico market with the purchase of two multifamily properties in Albuquerque: Ventana Canyon and Presidio. The acquisitions, combined with renovation costs, resulted in a total investment of $60 million. Formerly Ventana Canyon, the 264-unit Circ Apartments is in its final phase of a more than $4.1 million renovation project. Upgrades included a reimagined clubhouse, expanded pool deck and outdoor amenities, upgraded …

Acquisitions, Multifamily, New Mexico, Western

Hodges Ward Elliott Arranges Sale of DoubleTree Albuquerque Downtown in New Mexico

ALBUQUERQUE — Hodges Ward Elliott (HWE) has arranged the sale of DoubleTree by Hilton Hotel Albuquerque Downtown, located at 201 Marquetta Ave. NW in Albuquerque. AWH Partners acquired the hotel for an undisclosed price. Connected to the recently renovated Albuquerque Convention Center, the hotel features 295 guest rooms and more than 8,100 square feet of meeting space. Additionally, the property has undergone more than $8.3 million in capital improvements since 2015. Michael DiPrima, …

Acquisitions, Hospitality, New Mexico, Western

MorningStar, Confluent Senior Living Deliver 70,863 SF Seniors Housing Community in New Mexico

RIO RANCHO, N.M. — Co-developers MorningStar Senior Living and Confluent Senior Living, a subsidiary of Confluent Development, have delivered MorningStar of Rio Rancho, a seniors housing community located at 2301 Golf Course Road SE in Rio Rancho. Situated on 5.5 acres, Morningstar of Rio Rancho features a total of 77 units, with 51 suites for assisted living and 26 suites for residents with memory impairment, in a mix of studio, one- and two-bedroom layouts. The one- and two-bedroom …

Development, Multifamily, New Mexico, Seniors Housing, Western

Insight Senior Living Breaks Ground on 72-Unit Assisted Living, Memory Care Facility in Albuquerque

ALBUQUERQUE, N.M. — Insight Senior Living, based in West Linn, Ore., has broken ground on Amaran Senior Living, an assisted living and memory care community in Albuquerque. The project team includes Paaru Builders, Montessori ONE Academy and Dekker/Perich/Sabatini. Located at 9100 Holly Ave. NE, the 81,000-square-foot facility will feature 56 assisted living units and 16 memory care apartments. Units will include natural light, moveable kitchen islands, contemporary closet organizers, …

Development, Multifamily, New Mexico, Seniors Housing, Western

Marcus & Millichap Brokers Sale of 101-Bed Skilled Nursing Facility in New Mexico

FARMINGTON, N.M. — Marcus & Millichap has brokered the sale of Cedar Ridge Inn, a skilled nursing facility located at 800 Saguaro Trail in Farmington. A private investor sold the asset to another private investor for an undisclosed price. Built in 2002 on 4.5 acres, the single-story, 39,232-square-foot facility features 101 beds for seniors. Prior to the sale, the seller reduced operating capacity to fully renovate the 10-unit short-term rehabilitation wing. Tony Cassie and Sam …

Acquisitions, Multifamily, New Mexico, Seniors Housing, Western

Marcus & Millichap Brokers Sale of 240-Unit Multifamily Property in New Mexico

HOBBS, N.M. — Marcus & Millichap has arranged the sale of Homestead, a multifamily property located in Hobbs. Terms of the transaction, including the names of the seller and buyer and acquisition price, were not released. Built in 2016 and situated in 10.6 acres, Homestead features 240 apartments with high-end interior finishes. John McGregor, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller and procured the buyer in the deal. Matt Reeves of Marcus …

Acquisitions, Multifamily, New Mexico, Western

JLL Capital Markets Brokers Sale of Industrial Asset in New Mexico

SANTA TERESA, N.M. — JLL has arranged the sale of 150 Earhardt Way, a 92,325-square-foot, three-tenant industrial building located in Santa Teresa, 13 miles northeast of El Paso, Texas. JLL’s Zane Marcell and Dustin Volz led efforts on behalf of the seller, GBP Santa Teresa LLC. JLL retained Adin Brown of Sonny Brown Real Estate as a local market expert in the transaction. The asset is 100 percent leased to three tenants and was sold to investment group BRI Earhardt LP. The price was not …

Acquisitions, Industrial, New Mexico, Western

MCR Buys Residence Inn by Marriott Albuquerque Airport

ALBUQUERQUE, N.M. — MCR has acquired the 110-room Residence Inn by Marriott Albuquerque Airport. Located five miles southeast of downtown. The property is located at 2301 International Ave. SE and features 110 pet-friendly rooms with full kitchens, free breakfast and Wi-Fi, an on-site convenience store, fitness center, indoor pool, barbecue area, business center and on-site

Acquisitions, Hospitality, New Mexico, Western

Heslin Holdings Completes Redevelopment of West Central Plaza in Albuquerque

ALBUQUERQUE — Heslin Holdings has completed the redevelopment of West Central Plaza, a retail center located at 4208 Central Ave. SW in Albuquerque. Retailers at the property are now open for business. The company originally acquired the 150,000-square-foot retail property in 2015 with a large, vacant, single-tenant space. The multi-million-dollar renovation included the division of the largest freestanding building at the property, formerly occupied by Kmart, into two anchor tenant spaces …

Development, New Mexico, Retail, Western
Content Partners Alliant Credit Union
Lee & Associates
RED Capital Group

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