Thompson Thrift Residential Announces Sale of The Ranch at Sienna Near Houston

HOUSTON, July 19, 2022 /PRNewswire/ -- Thompson Thrift Residential, a wholly-owned affiliate of Indianapolis-based Thompson Thrift and one of the nation's leading multifamily developers, announced today the sale of The Ranch at Sienna, a 312-unit Class A multifamily community located in the Houston suburb of Missouri City. Houston-based Laye Capital Investments purchased the community for an undisclosed amount.

"We strive to create homes and communities where residents are proud to live," said Josh Purvis, managing partner for Thompson Thrift Residential. "The Ranch at Sienna has validated our investment approach of developing communities focused on style, convenience and luxury. We are very pleased to have delivered strong results to our investment partners."

Located at 8811 Sienna Springs Boulevard near Highway 6, the community offers 312 one-, two- and three-bedroom apartment homes averaging 1,105 square feet. Completed in September 2016, The Ranch at Sienna offers residents highly amenitized apartment homes with gourmet kitchens, attached garages, private balconies and full-sized washer and dryers. Luxury living extends throughout the community with poolside cabanas, a 24-hour fitness center with state-of-the-art cardio and strength training equipment, clubhouse, coffee bar, outdoor kitchen, game room and dog park.

The Ranch at Sienna is further enhanced by its prime location minutes from downtown Houston within the 10,500-acre master-planned Sienna community. The community provides high-end housing and more than 2,000 acres dedicated to parklands, golf courses, recreation areas, lakes, greenbelts, and nature reserves.

Thompson Thrift has made a name for itself by being one of the few developers to build Class A residential communities in markets across the country with a range of conventional, luxury leased villa and townhome-style communities. Throughout its history, the company has invested more than $3.7 billion and has become known as a trusted partner committed to developing high-quality, attractive communities. The company recently earned the distinction of being named one of GlobeSt. Real Estate Forum's Influencers of Multifamily Real Estate for 2021.

David Mitchell with Newmark's Multifamily Capital Markets brokered the sale for Thompson Thrift.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana, 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 acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail, industrial and commercial projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com

Contact:                
Jennifer Franklin                                 
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift