ALBUQUERQUE, N.M.--Colliers International in Greater Phoenix, in conjunction with Colliers' office in Albuquerque, recently completed the sale of Silverado, a 256-unit class A multifamily complex in Albuquerque.

Clear Sky Capital Inc. of Phoenix purchased the property, at 5741 Osuna Road Northeast, from First Pacific of San Francisco. The list price was $20.5 million; the closing price is being held as confidential.

“Silverado Apartments are a high-quality multifamily property located in a thriving submarket of Albuquerque,” Trevor Koskovich, senior vice president of Colliers International in Greater Phoenix, told GlobeSt.com.

The transaction was brokered by Colliers International's HSK Multifamily Southwest Team, led by Koskovich, Bill Hahn and Jeffrey Sherman, with Cynthia Meister, associate broker in Colliers' office in Albuquerque.

HSK Multifamily Southwest has been branching out to other states since late 2013, having completed a handful of sales in Las Vegas, El Paso and now Albuquerque. This expansion included adding a team member, Meister, who is the point person for the New Mexico market. The team presently has two listings in Albuquerque and a portfolio in West Texas.

“Colliers HSK Multifamily Southwest has expanded its presence in New Mexico because of the multifamily market's current strength,” Koskovich says. “Our team expects multifamily opportunities in New Mexico, Texas, Nevada and Arizona to continue to remain robust.”

As for Silverado, built in 1985, the 183,656-square-foot complex has 13 three-story buildings situated on just over eight acres of land. The apartments feature walk-in closets, extra storage areas, and private balconies or patios. Community amenities include a spa, fitness center, two heated pools, sand volleyball court, business center with free Wi-Fi and printing, and two clothes care centers. Silverado offers a private entrance with limited access entry and provides a courtesy patrol.

“This is an excellent value-added property with a strong rental upside through interior upgrades and the addition of landlord owned in-suite washer, dryer appliances,” says Meister. “The submarket occupancy and rents allow for improved performance.”