Hobbs Considers New Lessee for Cedars Apartments

The City of Hobbs is considering approving The Cedars Apartments LP as the assignee and successor lessee under the ground lease for The Cedars Apartments. The lease continues through June 18, 2078, and its $1 annual rent has been prepaid.

Document date · October 4, 2026

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Scope & details

The full contract record, as filed.

Contract amount

$1 per year; rent prepaid in full for the remaining term

Contract type

FACILITIES

Contract term

June 18, 1979 – June 18, 2078

Renewal date

2078-06-18

Renewal

Existing 99-year ground lease expires June 18, 2078. The amendment includes lease extension, renewal, and purchase-option provisions for the lessee and leasehold mortgagees, subject to required approvals.

Document type

Agenda

Source document

City of Hobbs Agenda 2026-10-05

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Hobbs?

The Cedars Apartments Lp was awarded this facilities contract by City of Hobbs, as recorded on October 4, 2026. The contract value is $1 per year; rent prepaid in full for the remaining term.

How much is the The Cedars Apartments Lp contract with City of Hobbs worth?

The The Cedars Apartments Lp contract with City of Hobbs is valued at $1 per year; rent prepaid in full for the remaining term, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record.

Where was this contract approved?

This contract appears in City of Hobbs Agenda 2026-10-05 (Agenda), dated October 4, 2026 from City of Hobbs. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does The Cedars Apartments Lp hold?

The Cedars Apartments Lp may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View The Cedars Apartments Lp's profile

What is City of Hobbs currently buying?

Explore City of Hobbs's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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