Continental Realty Group & MLG Capital Acquire 280-Unit Property in Albuquerque

Broadstone Ladera - Pool Area

Albuquerque, NM (May 28, 2021) — Continental Realty Group, through its subsidiary Continental Realty Assets, Ltd. ("CRA"), a Denver-based multifamily owner and operator, in partnership with Milwaukee-based MLG Capital, is pleased to announce the purchase of the 280-unit Broadstone Ladera Apartments in Albuquerque, NM. This marks the fifth partnership between CRA and MLG Capital and follows their purchase of 456-unit Diamond Mesa Apartments in Albuquerque in May 2020.

 Broadstone Ladera was built in 1985 and its interiors and common areas are largely in original condition. CRA and MLG plan to implement a renovation program that will focus on modernizing the property’s amenities, common areas, and unit interiors.

 Robert Ireland, CRA’s Managing Director of Investments, said, “We are excited to add Broadstone Ladera to our growing Albuquerque portfolio and grateful to everyone involved in the transaction. Albuquerque continues to be a focal market for us as we see numerous indications that its housing market is likely to continue heating up.”

 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.