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New Mexico’s Burrell Family Funds $85M Private Medical School

New Mexico’s Burrell Family Funds $85M Private Medical School

February 2015 will be the start month for the construction of an $85 million private medical school, backed by Santa Fe real estate and mining mogul Dan Burrell and his family. Over the course of 60 years the Burrells will make a $30 million donation to the New Mexico State…

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Virgin Galactic Chooses New Mexico Hotel to House its Future Space Travelers

Virgin Galactic Chooses New Mexico Hotel to House its Future Space Travelers

According to a Marcus and Millichap report, the hotel sector in the Southwest region posted, at the beginning of 2014, its best showing in several years.…

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Moderate-Income Apartments in Downtown Albuquerque Nears Completion

Moderate-Income Apartments in Downtown Albuquerque Nears Completion

The mixed-use project located at the periphery of Albuquerque’s Central Business District along historic Route 66 at 901 Park Avenue SW is nearing completion. The opening date is set for August 8, reports Albuquerque Business First.…

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HB Construction Builds $10M Boys & Girls Club With Funding From J.F Maddox Foundation

HB Construction Builds $10M Boys & Girls Club With Funding From J.F Maddox Foundation

J.F Maddox Foundation, the philanthropic foundation which invests in education, community development, and social programs, has offered funding for a new $10 million Boys & Girls Club facility at 301 E. Broadway St. in Hobbs. The general contractor on the project is Albuquerque-based HB Construction.…

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Jane Fonda’s Forked Lightning Ranch Listed for $19.5M

Jane Fonda’s Forked Lightning Ranch Listed for $19.5M

North of Albuquerque and near Santa Fe there’s a serene place bathed by Pecos River, a place that Hollywood actress Jane Fonda has been calling home since year 2000. Forked Lightning Ranch has been her escape place; adjacent to Pecos National Historical Park, this property is the middle part of…

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Heritage Hotels and Resorts Acquires Eldorado Hotel & Spa

Heritage Hotels and Resorts Acquires Eldorado Hotel & Spa

Eldorado Hotel & Spa, Santa Fe’s 219-room hotel, has been acquired by Heritage Hotels and Resorts in partnership with several co-investors, including insurance executive Randy Talbot. The transaction has been financed by Washington Federal and First National Bank of Santa Fe and Stu Sherman brokered the transaction.…

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Work to Begin on $80M Expansion of Presbyterian Rust Medical Center

Work to Begin on $80M Expansion of Presbyterian Rust Medical Center

Expansion works have been scheduled for the Presbyterian Rust Medical Center in Rio Rancho. Construction has started and will materialize into a new patient tower and a cancer center at 2400 Unser Blvd. SE.…

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NewLife Homes Turns The Sundowner Motel, Former Bill Gates Abode, into Affordable Apt. Community

NewLife Homes Turns The Sundowner Motel, Former Bill Gates Abode, into Affordable Apt. Community

Famous for its location in the heart of Albuquerque on historic Route 66 and for having served as home to Microsoft founders Bill Gates and Paul Allen in the mid-1970s, the Sundowner Motel is no longer what it used to be; the property was transformed into a residential community with…

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Santa Fe Opera’s ‘Setting the Stage’ Campaign Undertakes $35 Million for Renovation and Expansion

Santa Fe Opera’s ‘Setting the Stage’ Campaign Undertakes $35 Million for Renovation and Expansion

Since New York conductor John Crosby founded the company in 1956 and presented to the public its first performance of Puccini’s Madama Butterfly a year later, The Santa Fe Opera has built up its influence becoming one of the world’s most highly regarded summer opera festivals. A major piece of…

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Former Beach Waterpark Site Listed for Sale for $12.5M; Uptown Square Venture Closed on $3.6M Refinance for Mixed-Use Property

Former Beach Waterpark Site Listed for Sale for $12.5M; Uptown Square Venture Closed on $3.6M Refinance for Mixed-Use Property

For 18 years the Beach Waterpark has been a staple of the summer for Albuquerque’s children. Unfortunately, it was shut down in 2005 after it received an “unsatisfactory” rating from the Environmental Health Department; a year later everything on site was auctioned off and ever since the land remained empty.…

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Nordstrom Rack Enters the Albuquerque Retail Market at Winrock Town Center

Nordstrom Rack Enters the Albuquerque Retail Market at Winrock Town Center

Well-known Seattle-based Nordstrom Inc. announced its plans to enter the Albuquerque market by opening a Nordstrom Rack at Winrock Town Center in the Uptown corridor. The retail store is scheduled to open in the fall of 2015.…

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Geltmore’s $20M Mixed-Use Project in Downtown Albuquerque to Receive Tax Credit

Geltmore’s $20M Mixed-Use Project in Downtown Albuquerque to Receive Tax Credit

Albuquerque-based family-owned real estate firm, Geltmore LLC, has scheduled to start construction by the end of the year on a mixed-use development at 205 Silver Avenue SW, between Second and Third Streets; the project consists of a grocery store of 12,000 square feet and 74 residential units.…

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