New Mexico Community Changes Hands for $33M
The two-phase property totals 314 units.
Two entities associated with Troesh Family Foundation have purchased both phases of Windscape Apartments—a 314-unit community in Hobbs, N.M.—public records show. The assets traded for a total of $33.1 million, with the first phase selling for $21.1 million and the second for $11.9 million.
Developers delivered the first phase in 2008, with First Construction as general contractor. URENCO, a nuclear energy operator, helped facilitate the construction and master-leased 110 units at the time.
Windscape encompasses one- to three-bedroom floorplans ranging from 760 to 1,225 square feet. Residences feature private patios, as well as in-unit washers and driers. Community amenities include a gym, a theater room, a breakfast bar, a business center, two swimming pools and a hot tub.
Located at 3901 Central Drive, the community is 4 miles north of U.S. Route 62, as well as roughly 6 miles west of the Texas border. The property is 3 miles from Lea Regional Medical Center and some 7 miles from Lea County Regional Airport. Windscape is also less than 5 miles from a public 27-hole golf facility.
