Summit Equities Inc. (Michael Thom, Joseph Rosen and Ryan Lynch, et al, principals) purchased the 320-unit Oak Tree Park Apartments located at 5800 Osuna Rd. NE, Albuquerque, NM for an undisclosed price.
The list price at time of marketing was $29,000,000. The seller was TGM Associates (John Gochberg, et al, principal.).
The deal was brokered through Bill Hahn, Jeff Sherman and Trevor Koskovich (HSK) of Colliers International in Phoenix and Cynthia Meister of Colliers International Albuquerque. The property was acquired with a CMBS first mortgage loan arranged by Brandon Harrington and Matt Steffen Walker & Dunlop in Phoenix. The recently renovated complex was built in 1985.