Continental Realty Group Acquires 128-Unit Property in Albuquerque

Via Vista Apartments

Albuquerque, NM (July 16, 2021) — Continental Realty Group, through its subsidiary Continental Realty Assets, Ltd. ("CRA"), a Denver-based multifamily owner and operator, is pleased to announce the purchase of the 128-unit Via Vista Apartments in the Rio Rancho submarket of Albuquerque, NM. This marks CRA’s third multifamily acquisition in Albuquerque since May 2020.

 Via Vista was built in 2013 and boasts an expansive amenity package for a property its size, including a clubhouse, leasing center, swimming pool, spa, BBQ picnic area, playground, dog park, covered parking, and gated access. CRA intends to renovate the unit interiors to a level which more closely matches newer, nearby properties in the market with faux wood flooring in living areas and stainless-steel appliances. CRA also intends make minor enhancements to the common areas and amenities, including adding new equipment in the fitness center and lounge seating in the pool area.

 David Snyder, CRA’s President said, “In today’s competitive market, we are grateful to have been able to build a portfolio of Albuquerque communities so quickly. Our team continues to search for additional opportunities in Albuquerque, as well as other US markets such as Phoenix, Denver, Colorado Springs, Kansas City, and Las Vegas. We see strong demand and housing fundamentals in these areas for the multifamily market.”

 Albuquerque is one of CRA’s target markets due to its overall affordability coupled with its diverse and expanding employment base including Facebook, Intel, Netflix and NBCUniversal, which bode well for the market’s long-term performance outlooks. CRA is actively looking for additional acquisition opportunities.

About Continental Realty Assets

Continental Realty Assets, Ltd. ("CRA"), is a subsidiary of Continental Realty Group, a real estate investment firm dedicated to the creation of value in multifamily real estate. For more information about Continental Realty Group, please visit www.continentalrealtygroup.com.