The sale of Playa Del Sol and Pine Park Apartments, 98 units combined, sharpens Toledano’s focus on larger garden-style communities

ALBUQUERQUE, NM / ACCESS Newswire / October 22, 2026 / Raphael Toledano, founder and CEO of Sorrento Property Group, has completed the $10 million sale of Playa Del Sol and Pine Park Apartments, a two-property, 98-unit portfolio in Albuquerque, New Mexico. The sale advances Toledano’s strategy of concentrating capital and operating resources on larger garden-style apartment communities.

Playa Del Sol, at 444 Florida Street SE, has 58 apartments, and Pine Park Apartments, at 8201 Marquette Avenue NE, has 40. The transaction represents a blended price of approximately $102,000 per apartment. Chris Canter, Executive Managing Director of Newmark, represented the seller.

Building a More Focused Portfolio

For Toledano, the sale is a deliberate decision about the shape of the business: which properties to own, where to commit capital and where to direct management attention. His focus is on larger communities where sustained investment and active ownership can improve both property performance and the lives of the people who live there.

“A portfolio should reflect conviction. Every purchase and every sale should bring it closer to the business you intend to build,” said Raphael Toledano. “For us, that means larger communities where we can invest with purpose, manage closely and make improvements that matter. The standard is simple: 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 what lasting investment value is built on.”

Toledano treats acquisitions and sales as connected decisions, with each property’s place in the portfolio depending on how it fits the firm’s operating model and long-term priorities. At 58 and 40 units, Playa Del Sol and Pine Park are smaller than the larger garden-style communities the firm is now targeting.

“Raphael brings real conviction to every investment decision and stays engaged all the way through execution,” said Chris Canter, Executive Managing Director of Newmark. “We have worked together on numerous transactions, and he knows exactly what he wants to accomplish and the details it takes to get there. The Albuquerque sale reflects that clarity of purpose as he concentrates on larger multifamily communities. We value our relationship with Raphael and his team and look forward to working together on future transactions.”

Why Scale Serves Residents

Larger communities appeal to Toledano for the work that scale makes possible. More apartments in one place can help organize maintenance, management and resident services, and allow more coordinated improvements to buildings, common areas and amenities. Those operating considerations sit at the center of his investment strategy.

Size alone does not make a good investment. Toledano looks for communities where a clear operating plan and targeted capital investment can meet a property’s needs over time, linking the financial goals of ownership with residents’ everyday expectations. Improvements have to serve a practical purpose, and operations have to sustain that benefit once the work is done. His strategy is to put resources where that combination produces the strongest results.

About Sorrento Property Group

Sorrento Property Group is a privately held multifamily real estate investment and operating company founded by CEO Raphael Toledano. The firm acquires and repositions garden-style apartment communities in growing markets across the United States, combining disciplined investment with hands-on operations to create better homes and stronger communities.

Follow Raphael Toledano on LinkedIn.

Media Contact

Sorrento Property Group
info@sorrentoprop.com
(212) 224-9527
sorrentoprop.com

SOURCE: Sorrento Property Group