MorningStar senior living community is sold - Albuquerque Journal

MorningStar senior living community is sold

A senior care facility owned by a Denver-based real estate investment firm has been sold.

Confluent Senior Living said Harbert Seniors Housing Fund purchased MorningStar of Albuquerque for an undisclosed sum. Confluent, which co-developed the community with its operating partner MorningStar Senior Living, said MorningStar will continue to manage the facility.

Located in northwest Albuquerque, MorningStar of Albuquerque community opened in February 2016. The 61,000-square-foot development, built at a cost of $17 million, includes 69 assisted living and memory care suites. The project earned an Award of Excellence from NAIOP New Mexico and is currently 95.6 percent occupied.

The site, designed for 70-plus residents, created about 40 jobs to provide 24/7 staffing, according to a company spokeswoman. A licensed nurse is at the facility seven days a week.

An Oasis in the city

Women’s Specialists of New Mexico recently invested $300,000 to build a new spa for nonsurgical cosmetic procedures. The new business, called Oasis Med Spa, was designed by the Hartman + Majewski Design Group and the buildout was completed by Trinity Construction, an Albuquerque-based contractor with expertise in medical office construction, remodeling and tenant improvement.

Not only did the project bring a nice boost to the two companies’ bottom lines, but it also resulted in additional hiring by the practice.

Med spa services have been offered by Women’s Specialists for five years. The 2017 expansion includes hiring three new employees to bring the staff up to five full-time professionals, investing in new services and technology and locating the Oasis into a newly leased and renovated space at 101 Hospital Loop NE, Suite 105.

The new service is an expansion of the 40-year-old independent physician practice that provides obstetrics and gynecology services at three Albuquerque locations.

According to Oasis Medical Director Steven Gough, “Our practice has long been committed to helping women find wellness on their own terms and the spa is an extension of this mission. The new location for the Oasis is a significant expansion of our non-surgical cosmetic division that was previously housed in our Jefferson Lane OB-GYN office. The wide range of cosmetic services offered at the new Oasis is designed to help women enhance their natural beauty in a medically sound manner.”

Million-dollar listing for Santa Fe

With housing prices continuing to climb, and the housing shortage steadily creeping forward, more metros are seeing a significant majority of their homes hit the million-dollar mark.

Realtor.com recently released its ranking of the top 10 cities with the most growth of “new” million-dollar homes over the last three years, excluding already-pricey towns like Aspen and San Francisco.

Santa Fe is No. 9 on the list.

In more than 900 metro areas, Realtor.com compared the number of homes costing at least $1 million in 2017 to the number of homes that cost at least $1 million in 2014. The survey also limited the number of cities per state included in the list to two in order to have a more diverse, national list.

No. 1 was Denver, Colo. Other areas to make the list were: Boston (3.1 percent growth); Seattle (2.4 percent growth); Santa Fe (2.3 percent growth); and Charleston, S.C. (2.1 percent growth).

Steve Sinovic is the Journal’s real estate reporter. He can be reached at ssinovic@abqjournal.com or by calling 505-823-3919.


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