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October 31, 2019
In three recently announced apartment sales, local firm Thayer Manca Residential disclosed over $105 million in deals Arizona and New Mexico. In Albuquerque, TMR bought the 264-unit Circ Apartments and 200-unit Ottavo Apartments for a combined $60 million. About $4 million each has been invested in upgrades. And in Tempe, TMR recently sold the 266-unit Avia 266 for a little over $45.2 million; that was after about $4 million in upgrades. TMR has acquired that property in 2015 for $19.2 million. Joe Manca said in a statement, “We are very confident in the greater Phoenix market, and it remains a focus of ours as we continue to grow our portfolio.”