Thayer Manca Acquires 6th Multifamily Property in Washington State

Thayer Manca Acquires 6th Multifamily Property in Washington State

Thayer Manca Residential (TMR) has acquired Roosevelt Ridge, a 75-unit rental property located in the Pinehurst neighborhood of Seattle. This is TMR’s sixth asset in their rapidly growing Washington portfolio, which also includes Capitol Heights (115 units), Etta (80 units), Big Trout Lodge (297 units), Woodbury Apartments (127 units) and Callan Apartments(189units).

Principal Molly Santucci expressed her enthusiasm for this acquisition given today’s unique market conditions. She stated that they are eager to leverage their team’s expertise and strategic vision to enhance the community for its residents.

TMR will execute a comprehensive value-add repositioning strategy at the property with a renovation budget of $4.5 million dedicated to exterior and mechanical improvements. Additionally, Roosevelt Ridge benefits from easy access to major roads and public transportation options such as Link light rail stations at Northgate & NE 130th St., as well as proximity to Northgate Station redevelopment signifying job growth & amenities in near future .

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

Share the Post:

Related Posts