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 assisted living suites feature stacked washer/dryers, and all units include advanced technological features including an emergency call system and community-wide wireless internet. Additionally, the community offers restaurant-style and private dining options, a 24-hour bistro/bar, a workshop and art studio, community activities space with demonstration kitchen, a spa and massage therapy room, fitness center, theater/chapel, library and salon. Outdoor amenities include courtyards with trellises, walking paths, resident gardening areas and a barbecue area with grill and fire pit. MorningStar of Rio Rancho is the 12th joint venture between MorningStar and Confluent Senior Living. Confluent is the project owner and MorningStar serves as the operator of the property. The project team included Rosemann & Associates as architect, New Mexico-based Bradbury Stamm Construction as general …
New Mexico
Insight Senior Living Breaks Ground on 72-Unit Assisted Living, Memory Care Facility in Albuquerque
by Amy Works
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, stainless steel appliances, smart home technology and individual washers/dryers. The community will include more than 15,000 square feet of amenity space, including multiple dining venues, a theater, fitness center, full-service spa and salon with private massage room, outdoor patios, walking paths, gardens and woodshop. Additionally, the facility will feature a clubroom with sky terraces and lounge, billiards and other multipurpose spaces. Sharing a campus with Montessori ONE Academy and Nido, a Montessori nursery, the Montessori-focused seniors housing property will be the first of its kind. The facility will combine Montessori methods and programming by Insight Senior Living will create space for inter-generational connections and independence. The facility is slated to open in fall 2020.
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 Thompson of Marcus & Millichap’s Portland, Ore., office represented the seller, while Rod Llanos of Marcus & Millichap’s Houston office represented the buyer in the deal. Matthew Reeves, also of Marcus & Millichap, assisted in the transaction.
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 & Millichap is the broker of record 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 disclosed. The property is located in the Santa Teresa Intermodal Park adjacent to the Doña Ana International Airport and the Union Pacific Intermodal Terminal.
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 laundry.
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 now occupied by Burlington and Conn’s Home Plus. Heslin Holdings also added 17,000 square feet of floor space adjacent to Burlington. Dollar Tree now occupies a portion of the new space. Additionally, the redevelopment included the conversion of a multi-shop building at the southwest portion of the property into a single-tenant facility, which Harbor Freight Tools now occupies. A multi-tenant drive-thru pad site was also constructed on the corner of Artisco Drive SW and Central Avenue. Panda Express and T-Mobile are tenants at the pad site. Dunkin Donuts is also constructing a new pad building in the shopping center along Central Avenue.
ALBUQUERQUE AND SANTA FE, N.M. — ARCO/Murray has completed the construction of Ladera Storage in Albuquerque and Vegas Verde Storage in Santa Fe for Titan Development. Ladera Storage is a the three-story, 103,350-square-foot property offering fully climate-controlled units. The four-story Vegas Verda Storage features 88,184 square feet of climate-controlled self-storage space and two interior covered loading docks. Extra Space Storage will manage both facilities. ARCO/Murray provided design-build services, including architectural, structural and MEP design, as well as permitting and construction for each property.
SANTA FE, N.M. — Co-developers MorningStar Senior Living and Confluent Senior Living have opened MorningStar Assisted Living & Memory Care of Santa Fe. The 71,000-square-foot senior living community adds 56 assisted living units and 29 memory care units to the Santa Fe market. Nearly one-fifth of the city’s population is 65 or older, according to the developers. Construction of the community began in August 2017. The development represents the second MorningStar Senior Living community in the state. MorningStar and Confluent opened the MorningStar of Albuquerque community in 2016 and are building a third New Mexico community scheduled to open in Rio Rancho in spring 2019. The Santa Fe project represents the ninth completed joint venture between affiliates of Denver-based senior living developer, owner and operator MorningStar, and Confluent Senior Living, a subsidiary of Denver-based real estate investment and development firm Confluent Development. Rosemann & Associates was the architect on the project while New Mexico-based Bradbury Stamm Construction served as general contractor. Confluent is the project owner and MorningStar serves as the operator.
AZTEC AND LOVINGTON, N.M. — Blueprint Healthcare Real Estate Advisors has arranged the sale two seniors housing properties in New Mexico for an undisclosed price. The portfolio consisted of 150 skilled nursing beds and 25 independent and assisted living units. One property is located in Aztec, in the northwest corner of the state, and the other is in Lovington, in the southeast corner of the state. Blueprint handled the transaction on behalf of the seller, Sioux Falls, S.D.-based The Evangelical Lutheran Good Samaritan Society, a nonprofit owner-operator for which the assets represented a non-core disposition. A Southern California-based private investor interested in expanding in New Mexico was the buyer. Amy Sitzman and Hayden Behnke of Blueprint led the transaction.