NorthMarq arranges sale of The Overlook in Albuquerque, New Mexico
The Overlook, a 344-unit apartment complex located at 6200 Eubank Boulevard NE in Albuquerque, New Mexico, sold on January 30. Recent upgrades completed by the seller include new roofs, parking, resurfaced pool and pool deck and new fencing, creating an opportunity for the buyer to add value through the renovation and modernization of original apartment interiors.
NorthMarq’s Albuquerque Investment Sales Vice President Cynthia Meister and the Phoenix Investment Sales team collaborated to broker the sale and represented both buyer and seller in this transaction.
“Because of recent improvements in rents and occupancy in the Albuquerque multifamily market, an international buyer determined that The Overlook provided an excellent opportunity to enter this up and coming market”, says Trevor Koskovich, the president of Northmarq Multifamily.
During the marketing period, there was significant interest to acquire the property, and the ultimate buyer beat out many highly competitive offers.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
