Shift to Non-Energy Industries Leads to Market Confidence

The Preserve at Mesa Hills is a fully occupied 248-unit garden-style apartment community.

EL PASO, TX—The El Paso market is benefiting from a $5 billion expansion of Fort Bliss, which is underway to serve the population of nearly 90,000 soldiers, family members, civilian employees and military students. In addition, El Paso is an established manufacturing hub and the healthcare industry there is growing rapidly. The city’s skilled labor force, favorable business climate and low cost of living will continue to attract workers and drive demand for rental housing.

A part of that demand is the recent acquisition financing of The Preserve at Mesa Hills, a fully occupied 248-unit garden-style apartment community. Financing for the acquisition of the community was arranged by George Smith Partners’ principal David Rifkind and vice president Ameet Chagan.