Colorado Real Estate Firm Acquires 52-unit Apartment Complex in Albuquerque’s North Valley

Colorado-based Brinkman Real Estate zeroed in on entering New Mexico, with what they hope is the first many Albuquerque acquisitions.

Citing strong population and job growth and affordability compared to other Mountain states, Brinkman made its first New Mexico acquisition with the purchase of Cresta North Valley (formerly Cascade Crossing Apartments) at 3308 4th Street NW in Albuquerque.

“Albuquerque is a perfect example of a high-growth secondary market we are looking to quickly scale up in” said Brett Silverstein, Chief Acquisitions Officer. “It exhibits strong fundamentals and continued tailwinds highlighting the strength of their multifamily market. We’re excited to continue to expand our footprint in these markets.”

Cresta North Valley is a 2020 vintage, 52-unit multifamily community located just north of the downtown corridor. Albuquerque acquisitions are quickly becoming sought-after assets for multifamily buyers due to the market’s above-average growth, affordability, low vacancy rates, and influx of large employers. It has risen as a western destination in recent years, contributing to a strong economy rooted in cultural, outdoor, and culinary attractions.

The acquisition fits the profile of Brinkman Real Estate’s portfolio comprised of core-plus and value-add assets in markets with outsized population and job growth trends. The company executed on nearly $160 million in transaction volume in 2021, rising as one of the most active buyers in several markets. They’ve accelerated this trend in 2022 with three closings in as many months, bringing their year-to-date investment volume to nearly $70 million.

“We’ve had a strong start to the year,” notes Kevin Brinkman, Co-Founder and CEO. “Our team is consistently identifying high-quality assets that generate the strong returns our investors have come to expect.”

Brinkman’s portfolio includes more than $630 million in investment volume with zero losses. Their portfolio includes a diversity in assets from multifamily, mixed-use, office, hospitality and retail.

Read the full article at Albuquerque Business First>>