London
21 °C
Manchester
Glasgow
Dublin
Belfast
Washington
Denver
Atlanta
23 °C
Dallas
24 °C
Houston Texas
New Orleans
26 °C
El Paso
Phoenix
Los Angeles
10 °C
11 °C
-1 °C
0 °C
Raphael Toledano's Sorrento Property Group Completes $10 Million Albuquerque Multifamily Sale
Raphael Toledano's Sorrento Property Group Completes $10 Million Albuquerque Multifamily Sale
The sale of Playa Del Sol and Pine Park Apartments advances the firm's strategy of concentrating ownership and investment in larger garden-style communities.
ALBUQUERQUE, NM / ACCESS Newswire / October 5, 2026 / Sorrento Property Group, founded by CEO Raphael Toledano, has completed the $10 million sale of Playa Del Sol and Pine Park Apartments, a combined 98-unit portfolio in Albuquerque, New Mexico. The disposition advances the firm's strategy of concentrating capital and operating resources on larger garden-style multifamily communities.
Playa Del Sol comprises 58 apartments at 444 Florida Street SE. Pine Park Apartments comprises 40 apartments at 8201 Marquette Avenue NE. The transaction represents a blended price of approximately $102,000 per apartment. Chris Canter, Executive Managing Director of Newmark, represented Sorrento in the sale.
A More Focused Portfolio
The Albuquerque disposition reflects a deliberate choice about the shape of Sorrento's business: which properties it owns, where it commits capital and how it directs management attention. The firm is focusing on larger communities where it believes sustained investment and active ownership can improve both property performance and the experience of the people who live there.
"A portfolio should reflect conviction. Every acquisition and every sale should move it closer to the business you intend to build," said Raphael Toledano, founder and CEO of Sorrento Property Group. "For Sorrento, that means larger communities where we can invest with purpose, manage closely and make improvements that matter. The standard is straightforward: residents should see the quality of our ownership in the condition of their homes, the reliability of maintenance and the care of the community. That is the foundation of lasting investment value."
Sorrento's approach treats acquisitions and dispositions as connected decisions. A property's place in the portfolio depends on its fit with the firm's operating model and long-term priorities. At 58 and 40 units, respectively, Playa Del Sol and Pine Park are smaller than the communities Sorrento is targeting for future acquisitions. The firm is focused on larger garden-style apartment communities with 150 units or more.
"Raphael brings conviction to the investment decision and stays engaged through the execution," said Chris Canter, Executive Managing Director of Newmark. "We have worked together across numerous transactions, and he has a clear understanding of what he wants to accomplish and the details required to get there. The Albuquerque sale reflects that clarity of purpose as Sorrento concentrates on larger multifamily communities. We value our relationship with Raphael and the Sorrento team and look forward to working together on future transactions."
Scale With an Operating Purpose
For Sorrento, the appeal of larger communities lies in the work that scale can support. A broader base of apartments can help organize maintenance, property management and resident services within one community, while providing greater scope for coordinated improvements to buildings, common areas and amenities. The firm views those operating considerations as central to its investment strategy.
Property size alone does not determine investment quality. Sorrento's focus is on communities where a clear operating plan and targeted capital investment can address the needs of the property over time. Its emphasis on maintenance, services and the physical condition of each community connects the financial objectives of ownership with the everyday expectations of residents.
That connection guides the firm's approach to long-term value. Capital improvements need to serve a practical purpose, and property operations need to sustain their benefit after the work is complete. Sorrento's strategy is to concentrate its resources where it believes that combination can produce the strongest results.
About Sorrento Property Group
Sorrento Property Group is a real estate investment firm founded by CEO Raphael Toledano. The company focuses on multifamily apartment communities, with an emphasis on larger garden-style properties. Its investment approach combines active ownership, targeted capital improvements and attention to property operations to build long-term value for investors and improve the resident experience.
Contact Information:
SOURCE: Sorrento Property Group
View the original press release on ACCESS Newswire
X.Gaboury--SMC
