New Mexico

CFH Investment Partners Buys 456-Unit Apartment Complex in Albuquerque

by Nellie Day January 22, 2018

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 area. Each of the one- to three-bedroom units includes nine-foot ceilings, patios and balconies, and full size washers and dryers. Select units include walk-in closets and a separate laundry room. CBRE arranged the transaction.

January 22, 2018

Multifamily New Mexico Seniors Housing Western

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

by Nellie Day January 19, 2018

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 project represents the 11th joint venture between affiliates of MorningStar, a Denver-based owner-operator, and Confluent Senior Living, a subsidiary of Confluent Development, a Denver-based real estate investment and development firm. Confluent is the project owner and MorningStar will serve as the operator. Rosemann & Associates is serving as the architect for the new development, New Mexico-based Bradbury Stamm Construction is the general contractor and Thoma-Holec Design is the interior designer. The development marks the second MorningStar Senior Living community in metro Albuquerque, with MorningStar and Confluent completing MorningStar Assisted Living & Memory Care of Albuquerque in February 2016. Confluent sold the Albuquerque community to Harbert Seniors Housing Fund in July, with MorningStar maintaining its role as operator. The MorningStar and Confluent partnership continues its growth …

January 19, 2018

Multifamily New Mexico Western

CFH Investment Partners Buys 456-Unit Apartment Complex in Albuquerque

by Nellie Day January 2, 2018

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 Albuquerque. CFH plans to hold the asset long-term. CBRE represented the undisclosed seller in this off-market transaction.

January 2, 2018

Multifamily New Mexico Student Housing Western

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

by Nellie Day January 2, 2018

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 room.

January 2, 2018

Multifamily New Mexico Seniors Housing Western

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

by Nellie Day December 5, 2017

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 now under development in Farmington. National Healthcare Development is currently working on additional nursing facilities for Welbrook in Arizona and Colorado.

December 5, 2017

Multifamily New Mexico Seniors Housing Western

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

by Nellie Day November 8, 2017

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 operator MorningStar and Denver-based investment and development firm Confluent. Confluent will own the finished community, which MorningStar will operate. Rosemann & Associates is serving as the architect for the new development and New Mexico-based Bradbury Stamm Construction is the general contractor. MonrningStar of Santa Fe is scheduled for completion in fall 2018.

November 8, 2017

Multifamily New Mexico Seniors Housing Western

Welbrook Starts Construction of Rehab Facility in New Mexico

by Nellie Day November 2, 2017

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 2018.

November 2, 2017

Hospitality New Mexico Western

Marriott SpringHill Suites in Las Cruces Changes Hands

by Nellie Day October 30, 2017

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 Investment Advisors represented the private seller in the transaction.

October 30, 2017

Hospitality New Mexico Western

Terrapin Investments & Management Corp. Buys Sheraton Albuquerque Airport Hotel

by Nellie Day August 22, 2017

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 the Gibson Gate at Kirtland Air Force Base. Mike Armstrong of HREC Investment Advisors represented the seller — a joint venture between Waramaug, Interstate Hotels and Resorts, and Värde Partners — in this transaction.

August 22, 2017

Hospitality New Mexico Western

Home2 Suites by Hilton Opens in Las Cruces

by Nellie Day August 9, 2017

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 400 potential combinations. Home2 Suites is situated near downtown Las Cruces, Las Cruces International Airport, New Mexico State University, Veterans Memorial Park and Dripping Springs Natural Area. The pet-friendly property is owned by Las Cruces Hotel Partners LLC and managed by Kana Hotel Group.

August 9, 2017

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