Seattle-based Thayer Manca Residential (TMR) has expanded its multifamily portfolio in Albuquerque, NM by acquiring The Village at Tierra Antigua. The 156-unit community is TMR’s fifth property in Albuquerque and the fourth through its $88 million, TMR Value-Add Multifamily Fund 1.

“We can’t help but be excited about this great asset,” said TMR’s Joe Manca. “Tierra Antigua brings our portfolio in the market to over 1,000 units. It’s condo-style build with attached garages and large floorplans fits perfectly into our product mix in the market.”

The Village at Tierra Antigua is located in an area that offers some of Albuquerque’s best schools, dynamic retail and entertainment and great access to outdoor recreation activities. TMR plans to spend $2.9 million in renovations to the units, clubhouse, fitness center and outdoor amenity spaces. The firm will also add package lockers and a pet park.