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: the 176-unit Tuscany at St. Francis and the 160-unit Bluffs at Tierra Contenta.
“Albuquerque is a significant focus market for us,” said the founder and managing partner of Peak Capital Partners, Jeff Danley. “Our firm is actively looking to acquire multifamily communities across the greater Albuquerque and Santa Fe areas. New Mexico’s unemployment rate is consistently below the national average. We look forward to making a long-term commitment in offering affordable housing options to the residents of New Mexico.”
The 216-unit Sandia Valley was built in 1996 and offers one- to four-bedroom apartments. It is favorably located at 8200 Bridge Blvd SW, near Interstate 40 and close to dining areas, entertainment venues, shopping centers and schools. The extensive renovations of this and other Santa Fe communities that have been acquired typically include new stucco exteriors, updated landscaping, refinished parking lots, new roofing and remodeled clubhouses.
Founded in 2007 by Jeff Burningham, Jamie Dunn and Jeff Danley, Peak Capital Partners has its headquarters in Orem, Utah. Specializing in private equity, opportunistic commercial real estate, multi-family investment and value-add, the company and its affiliates focus on U.S. markets that show strong population and employment growth. It now owns and manages 25 apartment communities, encompassing more than 10,000 units in eight states. The assessed value of the company’s portfolio is currently set at $350 million.
Photo Credits: www.peakcapitalpartners.com