ALBUQUERQUE, N.M. — Northmarq has arranged the sale of two apartment communities, The Courtyards and The Arbors, in Albuquerque. A Colorado-based private equity real estate company sold the assets to a California-based private real estate investment firm. Terms of the transactions were not released.
Cynthia Meister, Trevor Koskovich, Bill Hahn and Jesse Hudson of Northmarq’s investment sales team represented the seller in the transactions. Brandon Harrington, Bryan Mummaw, Brad Burns and Tyler Woodard of Northmarq’s Debt & Equity team arranged acquisition financing for the two properties for the buyer.
Located at 6001 Topke Place NE, the 188,512-square-foot The Courtyards features 232 apartments in a mix of one-, two- and three-bedroom layouts spread across 29 two-story residential buildings. Community amenities include two swimming pools, resident fitness and business centers, a volleyball court, children’s playground, dog park and three laundry facilities.
Located at 4501 Shepard Road NE, The Arbors is a 155,072-square-foot garden-style property with 297 apartments in a mix of studio, one- and two-bedroom layouts spread across six three-story buildings. Onsite amenities include three swimming pools, a resident fitness center, dog park and three laundry facilities.