Hamilton Zanze Trades ABQ Community
Thayer Manca Residential acquired the 264-unit Class B community, with Zions Bank providing more than $25 million in acquisition financing.
Thayer Manca Residential has acquired Ventana Canyon, a 264-unit Class B community in Albuquerque, N.M. Zions Bank provided $25.4 million in acquisition financing to the buyer at a variable interest rate.
The seller, Hamilton Zanze, had purchased the asset from Boston Funding in June 2007 for $28.7 million. Hamilton Zanze remains with 733 units in the area, according to Yardi Matrix. In 2018, the firm expanded its presence in other metros, including Denver.
Located at 10300 Golf Course Road N.W. in Albuquerque’s Paradise Hills submarket, the property is situated within 15 miles of the city’s central business district, accessible via Route 45 or via two bus routes serving the area. The Lovelace Westside Hospital is nearby, with a wide variety of big-box and local retailers a mile east.
The community’s 15 two- and three-story buildings contain one-, two- and three-bedroom units, with floorplans ranging from 796 to 1,196 square feet. Ventana Canyon’s amenities include a swimming pool, a business center, a fitness center and a playground, with more than 500 parking spaces available on-site. As of October, the asset was 95.8 percent occupied, per Yardi Matrix data.
Image courtesy of Yardi Matrix