Why Multifamily Living Is On The Rise in #Albuquerque

There are many things we look for when investing in a new property. In a recent Albuquerque Business First article about our most recent investment – Casa Bella – I hinted at our strategy:

“What we do is buy an opportunity in a market and try to improve those communities for the families living in them. Basically, we purchase a problem property, fix it, and create a safe family community. Those are our goals.”

Investing in multifamily properties in specific growth markets and creating safe and comfortable communities is at the heart of what we do at GreenWater.

Let me explain our strategy for investing in multifamily properties using Casa Bella as an example.

WHY ABQ:

When looking into different markets to invest in, multifamily apartment investors look at several key indicators, specifically, (1) vacancy rate, (2) population growth, (3) employment growth, and (4) affordability.

Research shows that Albuquerque checks all these boxes with the biggest draws being affordability and the fact that several major corporations have set-up shop there generating quality jobs in the metro area.

WHY CASA BELLA:

First, the Casa Bella Apartments fit perfectly within our business model. We recently entered the Albuquerque multifamily market after years of success in the Florida, Texas, and Arizona markets. With the recent purchase of the three Canyon Apartment complexes in May, that we re-branded as Villas de Sol I, II, and III, Casa Bella is a complementing acquisition.

Moreover, it’s our mission to invest in neighborhoods that have been under-served and neglected. Casa Bella was ready for a full make-over.

LOOKING AHEAD:

Our 20 years of investment experience has showed us that injecting millions of dollars in capital improvements to a property not only improves the improved quality of life for the residents of a community, but sparks change and improvements in the surrounding communities and attracts other investors in the area.