Thayer Manca Residential has completed renovations of the 264-unit Circ and the 200-unit Ottavo, both in Albuquerque, N.M. The company acquired the first community in November 2018 from Hamilton Zanze and the later in August of the same year from Olympus Property.
Circ is located at 10300 Golf Course Road N.W. in a dense residential area with a little more than 7 million units within a 5-mile radius, according to Yardi Matrix data. Formally known as Ventana Canyon, the property is in the final phase of a more than $4.1 million renovation project, which included the clubhouse, pool deck, fitness facility, landscaping, interior upgrades and exterior paint. The community sits on a 13-acre site and comprises one- and two-bedroom apartments in 15 two- and three-story buildings completed in 1999. The asset was 96.6 percent occupied as of September, per Yardi Matrix data.
Ottavo—previously known as Presidio—is situated at 6350 Eubank Blvd., within walking distance from Mountain Run Shopping Center and public transit. Developed in 1992, the asset consists of one-, two and three-bedroom options in 15 two-story buildings. The property’s $4 million renovations included the clubhouse, fitness center, community kitchen and game area, pool deck, additional package lockers, exterior paint and unit enhancements. Yardi Matrix information shows the asset was 91.5 occupied leased in September.