Thompson Thrift Launches 7th Multifamily Development Limited Partnership

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Oct 02, 2024, 09:27 ET

INDIANAPOLIS, Oct. 2, 2024 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced today the launch of Thompson Thrift 2025 Multifamily Development, LP. The offering seeks to raise $230 million in total capital commitments from accredited investment partners who will participate in the development of a portfolio of ground-up, multifamily communities located in dynamic growth markets across the country.

"I firmly believe that now is the opportune time in the cycle to invest in multifamily, with construction starts at their lowest in over a decade," said Paul Thrift, CEO of Thompson Thrift. "This reduced supply should drive rent growth and rising valuations in the coming years, ultimately generating value for our investment partners."

The 2025 offering consists of six identified development projects across five states – Georgia, Florida, Colorado, Kansas and Indiana. The partnership will fund and commence construction on the identified projects in 2025, with Thompson Thrift as the developer.

Since adding a multifamily business unit in 2008, Thompson Thrift has developed more than 85 communities in suburban locations across the United States. Their portfolio offers three primary standard designs, providing construction efficiency, cost predictability and an end-product that has been tried and tested, winning the approval of residents through many builds and leases.

"Being good stewards of our investment partners' capital is our top priority," said Carrie Thrift LaFay, vice president of equity capital markets at Thompson Thrift. "Through a data-driven approach to market selection and strict adherence to fundamental site criteria, we aim to deliver excellent risk-adjusted returns."

The 2025 limited partnership marks the seventh multi-project development partnership offering by the company. Since 2010, Thompson Thrift has raised and deployed more than $1.5 billion in equity capital.

The limited partnership is being offered exclusively to accredited investors pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended (the "Securities Act"). As general solicitation is permitted under Rule 506(c) offerings, purchasers must meet verification requirements for validation of their accredited investor status.

Thompson Thrift is a full-service real estate development company focused on ground-up residential, commercial and mixed-use development across the Midwest, Southeast, and Southwest. The company continues to expand its 22-state footprint with eight new residential developments targeted for 2024, including new markets in Georgia, Utah and Idaho.

Since its founding nearly 40 years ago, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive commercial and multifamily communities.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston; and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing, and management of quality commercial real estate projects across the country. The company earned national recognition as a winner of a 2024 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com

Contact:
Jennifer Franklin
Spotlight Marketing Communications
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SOURCE Thompson Thrift