Presidio at Northeast Heights Apartments Sold in Albuquerque
Colliers International’s Hahn, Sherman, Koskovich and Meister Represented Buyer and Seller
Phoenix, February 10, 2016 – Colliers International in Greater Phoenix and Albuquerque negotiated the sale of Presidio at Northeast Heights, a Class B+ multifamily community located at 6350 Eubank Blvd. NE in Albuquerque, New Mexico.
Colliers International’s executive vice presidents Bill Hahn, Jeff Sherman and Trevor Koskovich in Phoenix; and Cynthia Meister, associate broker in Albuquerque, represented both the buyer and seller.
The buyer was Olympus Property, a privately held investment firm headquartered in Fort Worth, Texas. The seller was a tenant-in-common ownership managed by National Asset Services in Los Angeles, California.
“This was a strategic acquisition for Olympus Property as they expand their portfolio in Albuquerque, where they also own Encantada at Santa Monica. Olympus’ plans call for significant upgrades,” said Hahn. “The Presidio is a highly desirable property with an excellent location in the prestigious Far Northeast Heights, one of the most desirable upscale submarkets in Albuquerque.”
Built in 1992, the Presidio at Northeast Heights consists of 198,880 square feet in 15 two-story buildings set on 9.49 acres with a density of 21.07 units per acre. The 200-units are a mix of 56 one-bedroom, 104 two-bedroom and 40 three-bedroom luxury apartments ranging from 720 square feet to 1308 square feet.
Common area amenities include a clubhouse; business and fitness centers; spa and swimming pool; picnic and BBQ areas; courtesy patrol; and 238 open parking spaces plus 92 covered parking spaces. The apartments feature spacious walk-in closets, fireplaces, vaulted ceilings, private patios/balconies, pantries, washers, dryers and kitchen appliances.
The Presidio at Northeast Heights is ideally located along Eubank Boulevard NE and immediately south of Academy Road NE, a major east-west thoroughfare. The surrounding area offers four neighborhood schools, numerous grocery stores, shopping malls, parks, hospitals and easy access to the I-25 freeway.
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About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
Colliers International in Greater Phoenix has served clients locally and globally for more than 35 years.