October 15, 2014

PROVO, Utah — Peak Capital Partners, a Utah-based residential multifamily investment firm, today announced an extensive multi-million dollar renovation and remodeling plan for The Villas at La Privada, a 504-unit apartment community in Albuquerque, N.M.

“Peak is in the midst of an ambitious renovation plan for the community,” said Nathan Nelson, Peak’s vice president of acquisitions. “Peak has been active in New Mexico having acquired five apartment communities in the past three years. New Mexico will continue to serve as a target market for Peak.”

Upgrades include exterior and interior improvements including new landscaping, upgraded cabinets, countertops, lighting, flooring, and fixtures. The leasing center and pool area also will receive upgrades. A green initiative will include the installation of high-efficiency toilets, faucets and showerheads. A dog park will be added to meet the needs of pet owners.

The Villas at La Privada, located on San Mateo Blvd. in the Northeast Heights, offers one- and two-bedroom units close to major interstates with access to shopping, medical facilities, and recreation. The community is well amenitized and includes two pools, a fitness facility and business center. The first upgraded units have already been leased and were well received by the new tenants.

Peak acquired the community from California-based First Pacific in November 2013. Financial terms of the purchase were not disclosed.

About Peak Capital Partners

Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. Founded in 2007, Peak Capital Partners owns 80 apartment communities in 15 states housing 12,500 families. Visit www.peakcapitalpartners.com.

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Press Contacts

Nathan Nelson
801.691.0264
nathan@peakcapitalpartners.com