HiCap Management Sells Two-Property Multifamily Portfolio in Albuquerque
ALBUQUERQUE, N.M.— HiCap Management has completed the sale of a two-property apartment portfolio in Albuquerque. A private buyer acquired the two assets, totaling 196 units, for an undisclosed price.
The portfolio includes the 136-unit Chelsea Village Apartments and the 60-unit Marquee Village Apartments. Chelsea Village Apartments was built in phases between 1964 and 1968 and Marquee Village was built in 1950. Chelsea Village consists of 13 two-story buildings and offers a mix of one-, two- and three-bedroom layouts, while Marquee Village consists of two two-story buildings with a mix of one- and two-bedroom townhouses.
HiCap renovated the common spaces and upgraded selected units at the properties, which the company acquired in 2017 and 2018.
Erik Olson and Billy Eagle of CBRE represented the seller and buyer in the deal.