Dominium

I'm excited to celebrate with Mark Lambing on the closing of the acquisition resyndication Desert Willow is a 224-unit family property located at 8901 Jefferson St NE in Albuquerque, New Mexico. This community was constructed in 1999 by GSL Properties and was initially financed through the 4% low-income housing tax credit program. Amenities include a clubhouse, fitness center, playground, swimming pool, spa, and covered parking. The property will undergo a $7M renovation with Matrix Construction as the General Contractor and DCAS as the architect. The previous owner completed considerable work (~$9M) to the exteriors in 2022, so upgrades will primarily focus on the clubhouse and unit interiors. This development would not have been possible without the support of our partners. The financing includes a tax-exempt and taxable permanent mortgage provided by Freddie Mac and serviced by Wells Fargo; a taxable construction loan originated by Wells Fargo ; a subordinate loan originated by Colliers Securities ; and an equity investment in 4% federal Low-Income Housing Tax Credits from Wells Fargo . We also thank New Mexico MFA for its allocation of Low-Income Housing Tax Credits and Bernalillo County for the issuance of tax-exempt private activity bonds. We extend our gratitude to development partners City of Albuquerque , Winthrop & Weinstine, P.A. , Stewart Title , and Dominium Construction & Architectural Services. We appreciate everyone for their assistance on this project and their continued commitment to providing high-quality affordable housing throughout New Mexico.