ALBUQUERQUE, NEW MEXICO (January 17, 2020) – The Overlook, 344-units located at 6200 Eubank Boulevard NE in Albuquerque, New Mexico, sold on January 30. The well-maintained 80’s property with original interiors represents a value-add opportunity. Upgrades completed include new roofs, parking, resurfaced pool and pool deck and new fencing.
NorthMarq’s Albuquerque Investment Sales Vice President Cynthia Meister and the Phoenix Investment Sales office team collaborated to broker the sale and represented both buyer and seller in this transaction.
“The owner refinanced with NorthMarq a year earlier and had a huge prepay,” said Meister. “All of the maintenance and cap ex was completed for long-term ownership, whom later decided to sell since it’s was their last asset in New Mexico.”
NorthMarq arranged the sale for a new-to-market international buyer, with substantial non-refundable money up front.