Thompson Thrift Residential Sells The Retreat in Corpus Christi

CORPUS CHRISTI, Texas, July 5, 2022 /PRNewswire/ -- Thompson Thrift Residential, a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the sale of The Retreat, a 324-unit multifamily community located in The District of Timbergate area of Corpus Christi. A private real estate investment firm purchased the community for an undisclosed amount.

"The Retreat's location within the highly acclaimed Corpus Christi Independent School District along with its premium access to nearby employers, retail and entertainment generated significant interest from multiple parties," said Josh Purvis, managing partner for Thompson Thrift Residential. "We are pleased to have been able to execute our business plan and reach our investment goals for this community."

Completed in 2017, the 96% leased community features 14 three-story buildings providing 324 apartment homes with a variety of one-, two- and three-bedroom layouts. The well-appointed homes include granite countertops, nine- to 10-foot ceilings, full-sized washer and dryers, soaking tubs, private balconies and detached garages. The Retreat also provides an array of community amenities including a resort-style swimming pool, state-of-the-art fitness center, clubhouse, technology center, movie lounge, gaming den, parcel pending package acceptance, and onsite bark park and pet spa.

The community's location at 15721 Timbergate Drive is close to Highway 358 and provides residents with convenient access to numerous retailers at the La Palmera Shopping District as well as major employers including the Port of Corpus Christi, First Data Corporation, Texas A&M, Bay LTD and Eagle Ford Shale.

Kelly Witherspoon, Justin Cole and Adam Sumrall with Berkadia brokered the sale.

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