Albuquerque
SolarCity Enters New Mexico with New Center
Albuquerque will soon start shining again. Even though Tesla Motors CEO Elon Musk chose another location for the lithium-ion battery factory to the detriment of the Duke City, he observed another advantage the city offers: the shining sun. With his two cousins, Lyndon and Peter Rive, they are bringing to New Mexico one of America’s largest solar power provider.
Cantor Commercial Funds $110M for 7-Property Hotel Portfolio
Real estate capital intermediary HFF announced on February 24th that it has arranged mortgage financing worth $110 million for a seven-property, full-service hotel portfolio that totals 2,566 keys. The portfolio includes properties from Florida, California, Virginia, Ohio, and New Mexico.
Golden Spike Develops $6.1M Apartment Property in East Nob Hill
Platinum Apartments is the new name of the residential project that was originally scheduled to enter the development phase in 2007, but got hit by the Great Recession. Currently, reports Albuquerque Journal, it is well into construction, planned to be finalized this summer.
Clear Sky Capital Acquires Apartments in Albuquerque
Silverado Apartments has exchanged owners in a transaction handled by the rebranded Colliers HSK Multifamily Southwest Team, a partnership between Colliers International in Greater Phoenix and Collier’s office in Albuquerque. The buyer was Clear Sky Capital Inc. of Phoenix and the seller First Pacific Group, a real estate investment and management firm from San Francisco.
Carmike Cinemas Breaks Ground on 12-Screen Movie Theater at Las Estancias Development
Southwest Albuquerque has broken ground on a 12-screen movie theater at the new Las Estancias, a 79 acre development near Rio Bravo and Coors. This marks the entrance in a new era as it represents the first time in over five decades when the South Valley is getting the chance for a night out at the movies.
Toyota Dealership in Albuquerque, N.M. Will Undergo Major Reconstruction
The Larry H. Miller American Toyota dealership, located at 5995 Alameda Boulevard, NE Albuquerque and serving Albuquerque, Santa Fe, Rio Rancho, and Las Lunas, will enter a complete reconstruction phase. The remodel works are estimated to take about one year.
R.R. Martin to Convert Former Bowling Space to Art Space
George R.R. Martin continues to pencil his role of protector of art while developing his landlord skills in the city of Santa Fe. After purchasing and bringing back to life the long-abandoned Jean Cocteau Cinema, he repeats the move by acquiring the former Silva Lanes property located at 1352 Rufina Circle in south Santa Fe.
Three-Story Downtown Lofts Near Historic District Opens for Renters
In downtown Las Cruces there’s a new apartment complex ready to receive its residents. The Lofts at Alameda, a 38-unit, three-story residential community, a $3 million development, recently received the certificate of occupancy from the city and is ready to rent starting this month.
Hotel Chaco, New Boutique Development Owned by Heritage Hotels, Breaks Ground in Old Town Albuquerque
The first hotel to be built in Albuquerque’s Old Town in the past 40 years has just broken ground. Hotel Chaco, the multimillion project of the Heritage Hotels and Resorts, has begun to take shape at Bellamah and 20th NW, adjacent to the 11-story Hotel Albuquerque.
Heslin Holdings Acquires Kmart Retail Space for $4.4M
California-based Heslin Holdings, an investment and development firm, recently announced the purchase of a large piece of Rio Rancho’s Hilltop Plaza Shopping Center. The acquisition represents the retail space currently leased to Kmart, which nears the end of its lease agreement.