PHOENIX (Jan. 22, 2024) — Northmarq’s Phoenix and Albuquerque Multifamily Investment Sales teams of Trevor Koskovich, Cynthia Meister, Jesse Hudson, Ryan Boyle and Logan Baca have completed the sale of The Overlook, a 344-unit multifamily property.
Northmarq’s Phoenix Debt and Equity team led by Brandon Harrington, Christopher Gitibin, Tyler Woodard, Bryan Mummaw and Bryan Liu financed the acquisition through a debt fund execution.
“Albuquerque has shown some stability amid the volatile capital market dynamics. During a challenging time in the market cycle, we were able to secure a buyer with a high certainty to close and one that did not re-trade, which was critical for our client,” said Koskovich.
The Overlook was built in 1988 and is located at 6200 Eubank Blvd NE in the Northeast Foothills of Albuquerque, New Mexico. Northmarq represented the seller, LWH The Overlook Apartments LP. The buyer was The Bascom Group LLC.
“The acquisition financing was arranged via a debt fund,” said Harrington. “We created an extremely competitive environment for the value-add acquisition and were able to find the lender that offered the most competitive terms, that fit the borrower's business plan.”
Learn more about Northmarq’s financing services here.
The community boasts six floor plans with various finish levels and a designer amenity package. Residents enjoy easy access to great schools, shopping, public parks and hiking trails. The Overlook offers curated spaces with wood-style plank flooring and stainless-steel appliances in addition to a state-of-the-art fitness center and two shimmering swimming pools. The pet-friendly community is ideally located within an 8-minute walk from two shopping centers and less than a 10-minute drive from Albert G. Simms Park and Sandia Peak Tramway.
Apartment amenities include: Balcony/patio, ceiling fans, central air and heating, covered parking, designer light fixtures and faucets, extra outdoor storage, walk-in closets and wood-style plank flooring. Community amenities include: 24/7 Amazon Hub parcel center, beautiful landscaping, business center, clubhouse, dog park, guest parking, laundry facility, on-site maintenance, part-time courtesy patrol, picnic area with barbecue, fitness center and two swimming pools.
View available multifamily properties here.