The BENA Capital Mosaic Fund is pleased to announce the acquisition of a multi-family apartment asset in Rio Rancho, NM.
Only 20 minutes north of Albuquerque, Rio Rancho is the largest city in Sandoval County. It was named the “Best Place to Live in New Mexico” by MONEY’s Best Places to Live in Every State. One of the fastest expanding cities in New Mexico, it has grown over 15% since 2010. That growth is expected to continue steadily over the next two decades.
Rio Rancho is a thriving economic hub, and the area is supported by a diverse mix of industries, including tech & software, healthcare, education, manufacturing, customer service centers, retail and tourism. Among the high-profile employers are Intel, US Cotton, HP, PCM and Lectrosonics.
In recent news, Intel announced it will move technology development for its 3D XPoint memory technology to its facility in Rio Rancho. The move includes the addition of over a hundred jobs at Intel’s Rio Rancho site. Perhaps the most notable of newcomers to the area is Netflix, who inked a billion dollar deal to open a U.S. production hub in Albuquerque late last year. The deal is expected to bring an additional 1,000 jobs per year to the state.
The property is centrally located, less than 15 minutes away from some the city’s largest employers — the Intel and HP campuses, and the award-winning UNM Sandoval Regional Medical Center. It is currently 100% occupied. Over the next quarter, BENA Capital will work with local property management to make strategic capital investments to improve the property and enhance operating income. We are excited about the prospects of this property due to its desirable proximity to demand generators, strong cash-flowing history, and continued investment in the immediate vicinity.
The acquisition is the second of BENA Capital’s Mosaic Fund - a Stable Income Fund focused on generating strong rental income streams from core-plus and value-add assets in growing markets throughout the United States.
The Mosaic Fund is currently open to new investors. If you are interested in earning stable quarterly dividends, feel free to reach out directly via email or call us at 408-421-8608.
Managing Director - Real Estate Acquisitions
About BENA Capital
BENA Capital manages real estate investment funds, with a central focus on the acquisition and management of residential multifamily assets in growing markets. BENA Capital's funds provide investors with ease of entry, reliable quarterly cash flow, and portfolio diversification. Our proven strategies emphasize sound investing in carefully researched, quality properties that have steady, long-term capital appreciation potential.
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