Albuquerque
Peak Partners Capital Acquires Sandia Valley Apartments
Albuquerque’s Sandia Valley Apartments has changed owners. This is not the first residential community to be acquired by Peak Capital Partners in New Mexico, two other complexes from Santa Fe having been purchased by the investment company in the past three years: Tuscany at St. Francis and Bluffs at Tierra Contenta, with 176 and 160 units respectively.
8.4K SF Medical Office Center Nears Completion
A new medical complex is nearing completion on an 8,470-square-foot phase one. Mark Edwards, the leasing agent of the project and president of Edwards Commercial Realty, said the end date for it should be the end of June. Phase two consists of a development of about 7,300 square feet.
Local Hotel Operator Signs Deal to Purchase Hyatt Regency
The 395-room Hyatt hotel building in Downtown Albuquerque is changing ownership. Hotel operator Jim Long and his business partner Chris Smith have signed an agreement to a deal that will close in the next 60 days, reports Albuquerque Business First.
Peterson Acquires Simms Building for $1.75M and Begins Renovations
Bearing the hallmark of the city’s first modern, International Style skyscraper, the Simms Building was built in 1954 and listed on the National Register of Historic Places in 1998. Over the years, the building with the windowless brick walls on the east and west sides and glass curtain walls on the other two faces, has served Albuquerque’s commercial sector.
Writer George Martin Purchases, to Renovate Jean Cocteau Cinema
George R. R. Martin needs no further introduction. Since his bestseller novel, A Song of Ice and Fire, has seen the printer’s ink, he’s become one of the world’s most influential people. HBO recognized the success and turned it into the very popular dramatic series, Game of Thrones. The novel is yet to be finished, readers and movie fans are looking forward to the sixth and seventh books of the series.
Microsoft’s Birthplace Converted into Apartments in $9M Redevelopment by NewLife Homes
Representatives from NewLife Homes and the Federal Home Loan Bank of Dallas (FHLB Dallas) celebrated with the Mayor of Albuquerque Richard J. Berry and other officials the official groundbreaking of the Sundowner Uhuru, a residential redevelopment of the former Sundowner Motel. The event took place on Thursday, April 18th, at 6101 Central Avenue NE.
Central New Mexico Community College Undergoes $13M-Plus Renovation
Established in 1964, Central New Mexico Community College has today more than 29,000 students enrolled. This number makes it the largest higher education institution in New Mexico. Because with great power comes great responsibility, CNM has big plans for its campus, Albuquerque Business First reports.
Yes Housing, Romero Rose Break Ground on $16.2M Downtown Affordable Project
Romero Rose LLC, in partnership with YES Housing Inc., has recently broken ground on Casitas de Colores, a $16.2 million multifamily affordable project in downtown Albuquerque. The 71-unit development targets people with incomes that range from 30% to 60% of Area Median Income.
Titan, Alliance to Break Ground on 13-Acre Apartment Community
Titan Development is planning to break ground on an upscale apartment community near Cottonwood Mall this summer. The Albuquerque developer has teamed up with Phoenix-based Alliance Residential Co. to build a 254-unit multifamily housing complex on a 13-acre site in West Side Albuquerque.
Prime Properties Breaks Ground on $70M Retail Development in South Valley
The long awaited Las Estancias retail project in the South Valley is finally set to break ground. Scheduled for February 16, the groundbreaking ceremony will mark the first phase of the area’s first large-scale retail development, a project that has been in the works for several years.