Tower 16 Capital Partners Acquires Multifamily Property In Albuquerque, New Mexico
301 Western Skies Drive Southeast, Albuquerque, NM 87123
Building Size
438,622 SF
Asset Type
MultiFamily
Closing
Dec 23, 2021
AI
301 Western Skies Dr. SE, located in Albuquerque, New Mexico, was recently sold in a multifamily transaction. The property spans approximately 438,622 square feet, making it a significant asset in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Buyer: Tower 16 Capital Partners - Mike Farley & Tyler Pruett
- Seller: Greenwater Investments - Genaro Diaz
- Brokers: Art Wadlund, Clint Wadlund & Bill Fox - Berkadia
The buyer of the property is Tower 16 Capital Partners, represented by Mike Farley and Tyler Pruett. The seller, on the other hand, is Greenwater Investments, represented by Genaro Diaz. The deal was facilitated by Art Wadlund, Clint Wadlund, and Bill Fox from Berkadia, who acted as the brokers in the transaction.
Players
Albuquerque MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93