Between 1957 and 1964, the Academy received a large tract of undeveloped land north of Albuquerque, part of the Elena Gallegos Land Grant, from the Albert G. Simms family. The western portion (from Wyoming Boulevard to the Rio Grande) was sold to finance the creation of the current campus and the first endowment fund, and the present campus was created in the middle of the tract. The land east of the campus, reaching to the crest of the Sandia Mountains, was sold later in a series of deals. First the section from the campus to Juan Tabo Boulevard was sold to create a second trust. Later, the City of Albuquerque attempted to facilitate a deal to sell the remainder to the Bureau of Land Management by putting up a parking garage as collateral. The deal fell through and the Academy became the garage owner while still retaining the area.