San Diego, CA - September 25, 2024
Clipper Capital Group is proud to announce the acquisition of three multi-family communities in Las Cruces, New Mexico, adding a total of 220-units to our rapidly expanding portfolio.
This acquisition marks another milestone in our strategic growth, with a particular focus on key emerging markets in the Southwest.
These newly acquired properties, which comprise 220 units under the Low-Income Housing Tax Credit (LIHTC) program, further diversify our holdings and align with our commitment to investing in high-potential regions.
Las Cruces, known for its dynamic growth and economic opportunity, represents an attractive market for long-term investment.
"This acquisition strengthens our presence in New Mexico and fits squarely within our strategy of expanding into high-growth markets," said Blair Pruett, Co-Founder of Clipper Capital Group. "The addition of these multi-family communities enhances our portfolio by offering a strong mix of value-driven properties in a region with significant growth potential."
The communities include:
Four Hills: Situated at 805 Maeghan Drive, Four Hills and built in 2005, Four Hills is comprised of 72 units in a mix of 2BRD/1BA and 3BDR/1BA layouts. Amenities include covered parking, air conditioning, a swimming pool and on-site maintenance.
Los Altos: Located at 4510 South 3rd Saint Road, Los Altos and built in 2007, Los Altos is comprised of 72 units in a mix of 2BRD/1BA and 3BDR/1BA layouts. Community amenities include laundry facilities, air conditioning, a swimming pool, and on-site maintenance.
Mira Vista Villas: Located at 2141 North Solano Drive and built in 2003, Mira Vista Villas is comprised of 76 1BDR/1BA units. Amenities include high speed internet access, air conditioning, a fitness center, and a community clubhouse.
This acquisition strengthens Clipper Capital Group’s New Mexico footprint, particularly in markets where demographic and economic trends are driving increased demand for multi-family housing.
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