Casa Bandera - Las Cruces

Jones Lang LaSalle Americas. Inc. or its state-licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Casa Bandera (the “Property”). Located in Las Cruces, New Mexico, Casa Bandera provides investors an opportunity to acquire a well-maintained class “A” asset consisting of 232 units. Positioned along University Avenue in the heart of the city, Casa Bandera sits just one block east of Interstate-10 and just over one mile from both Interstate-25 and Main St./SH-70. This ideal location places residents adjacent to two of the largest economic drivers in the region, New Mexico State University and the Las Cruces Convention Center, and just over one mile from Memorial Medical Center. Completed in 2002, Casa Bandera presents the opportunity for ownership to increase effective rental rates by implementing an interior renovation program as the Property features 100% “classic” units. The Property is in excellent physical condition as current ownership has invested nearly $375,000 of capital into the asset including LED lighting upgrade, adding a dog park, recoating the pool deck, restriping the parking lot, clubhouse décor and paint, new fitness equipment, exterior paint and repairs to railings and patio posts, and a rear fence.