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301 Western Skies Drive Sou...

Tower 16 Capital Partners Acquires Multifamily Property In Albuquerque, New Mexico
SOLDMultiFamily

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

Art Wadlund

Institutional Property Advisors

Broker

$285.7M

vol

4 deals

Broker
Tyler Pruett

Tyler Pruett

Tower 16 Capital Partners

Buyer

$498.4M

vol

11 deals

Buyer
GI
Greenwater InvestmentsSeller

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