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Thayer Manca Residential Receives $23.9M in Fannie Mae Financing for Ottavo Apartments in Albuquerque

Ovatto-Apts-Albuquerque-NM

The 200-unit Ovatto Apartments in Albuquerque recently underwent a comprehensive $4 million renovation.

ALBUQUERQUE, N.M. — Thayer Manca Residential (TMR) has received a $23.9 million Orix Fannie Mae loan for the refinancing of Ottava Apartments in Albuquerque. TMR originally acquired the 200-unit property in August 2018.

Previously Presidio, Ottavo Apartments recently underwent a $4 million renovation, including the addition of stainless steel appliances; LED light fixtures and new flooring in the units; and a reimagined clubhouse with remodeled game room and resident lounge, modernized fitness center with new cardio and strength equipment, package lockers and outdoor amenity enhancements.

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