Mountain Vista & Sierra Meadows - NM

Jones Lang LaSalle Americas, Inc. (“JLL”) or its state-licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Mountain Vista and Sierra Meadows (the “Properties”), consisting of 340 units in Albuquerque, New Mexico. The Properties are ideally positioned in the desirable Northeast Heights and Kirtland/Four Hills submarkets, within close proximity to some of the area’s biggest economic drivers including the University of New Mexico, Sandia National Laboratories, and an abundance of strong neighborhood retail centers. The Albuquerque market has experienced robust job growth over the past two years, having added over 56,303 jobs, resulting in an impressive growth rate of 12.9%. Mountain Vista, built in 1979, offers potential buyers the opportunity to continue implementing a successful value-add strategy, as ownership has increased rents $230 over the last year. Sierra Meadows, built in 1973, provides potential buyers the opportunity to carry forward a proven value-add program as upgraded units are achieving rental premiums of $182. Additionally, current ownership has spent ~$5.8 million in capital expenditures, allowing new ownership the ability to focus on the interior value-add plan to generate significant NOI growth.