Thayer Manca Residential (TMR) has expanded its Washington portfolio, purchasing Big Trout Lodge, a 297-unit apartment complex in Lake Liberty, WA. The community is the Seattle-based firm’s third acquisition in Washington in the last four months.
“It’s been quite a year for our company,” said TMR Principal Joe Manca. “Our conservative and patient approach to deploying investor capital has paid off with the acquisition of these three assets, all in our home state and in dynamic submarkets.”
Big Trout Lodge, located at 22809 E Country Vista Dr., will undergo a renovation. TMR plans on executing a value-add repositioning strategy and has budgeted over $10 million for upgrades of the three recent purchases. The plans include improved outdoor amenity spaces, refreshed office and clubhouses, fitness center enhancements and the addition of EV charging stations. The unit interiors will also be upgraded with high-end finishes.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.