Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Thayer Manca Nabs Third Multifamily Asset in South Puget Sound
Thayer Manca Residential (TMR) recently purchased Woodbury Apartments in Olympia, WA, its third property in the South Puget Sound region. TMR purchased the 127-unit property for $38.5 million.
With a $2.3 million renovation budget, the repositioning plan includes a rebrand, and a full redesign of the clubhouse, fitness center, pool area and sport court. Interior renovations are planned for all 127 units.
“Woodbury presents a classic value-add opportunity, allowing us to leverage our knowledge and past success in the South Puget Sound market,” says Joe Manca, principal at TMR.
Located at 3425 Polo Club Ln. SE, Woodbury has access to major employers of the South Puget Sound including the State of Washington Capitol Campus, Providence St. Peter Hospital, Capital Medical Center and Joint Base Lewis-McChord. Another draw is a planned 86.25-acre community park that will be developed directly across the street from Woodbury.
- ◦Sale/Acquisition
