A multifamily asset located at 601 West Orchard Lane & 506 West Orchard Lane in Carlsbad, NM has been sold for $10,500,000. The property comprises 101 units with a price per unit of $103,960. The total square footage of the asset is 101,600, resulting in a price per square foot of $103.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,500,000
• Units: 101
• Price Per Unit: $103,960
• Square Footage: 101,600
• Price Per Square Foot: $103
• Buyer: Fairview Residential & Namdar Realty Group
• Seller: Dan Brisse & Michael Roeder
• Date of Transaction: 10/22/2025

The transaction involved key individuals, including Dan Gorjian, Igal Namdar, and Blake Namdar representing the buyer side through their respective organizations. The buyer entities aim to target value-add distressed multifamily opportunities nationwide, focusing on properties with a vintage prior to the 1990s.