June 11, 2015
Peak Capital Partners has acquired its third apartment community in New Mexico, the 216-unit Sandia Valley in Albuquerque near Central Avenue and Unser Boulevard.
The Orem, Utah-based residential multifamily investment company said in a news release that it will begin improvements to the property, including new landscaping and a renovated clubhouse. The complex, located at 8200 Bridge Blvd. SW, is made up of one- to four-bedroom unit apartments. The purchase price was not disclosed.
“Albuquerque is a significant focus market for us,” Jeff Danley, founder and managing partner of Peak Capital, said. “Our firm is actively looking to acquire multifamily communities across the greater Albuquerque and Santa Fe areas. New Mexico’s unemployment rate is consistently below the national average.”
The two other apartment communities in New Mexico owned and managed by Peak Capital are the 176-unit Tuscany at St. Francis and the 160-unit Bluffs at Tierra Contenta, both in Santa Fe. The company said its Santa Fe properties also underwent renovations after being acquired, including new stucco exteriors, updated landscaping, refinished parking lots, new roofs and remodeled clubhouses.
Peak Capital was founded in 2007 by Danley, Jeff Burningham and Jamie Dunn. It owns 25 apartment communities in eight states and has an asset portfolio valued at $350 million.