Thompson Thrift Sells Avenue64 Near St. Louis, Missouri

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Jul 10, 2024, 13:18 ET

ST. LOUIS, July 10, 2024 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, announced today the sale of Avenue64, a 316-unit Class A multifamily community located in the affluent St. Louis suburb of O'Fallon. Bonaventure Holding Company purchased the property for an undisclosed amount. George Tikijian, Hannah Ott and Matt Bukhshtaber of CBRE brokered the sale.

"O'Fallon has been noted as one of the best cities to live in in the Midwest and continues to see steady population growth," said Josh Purvis, managing partner for Thompson Thrift Residential. "We developed Avenue64 to provide options for residents seeking high-end, luxury living options, and we are pleased to have another development success story under our belts."

Located at 1000 Watermark Drive, Avenue64 is located between I-64 and Highway K, approximately 30 minutes west of downtown St. Louis. The 17-acre apartment community is less than one mile from CitiMortgage and Progress West Hospital, two of the metro's largest employers, and only a five-minute drive from MasterCard's Global Operations Headquarters.

The 95% occupied community was completed in February 2023 and features one-, two- and three-bedroom apartment homes with premium interior finishes, including 9-foot ceilings, glass cooktop stoves and stainless-steel appliances, gourmet bar-kitchens with quartz countertops, walk-in closets, garden tubs and full-size washers and dryers.

Residents enjoy a variety of community amenities including a 24-hour fitness center with state-of-the-art equipment, a resort style swimming pool with cabanas and entertainment areas, as well as a pet-friendly bark park and doggie spa.

"Top-quality, well-located and well-managed assets like Avenue64 continue to generate keen interest from buyers and provide sellers with the ability to be in the driver's seat on pricing and terms," stated George Tikijian, vice chairman of CBRE.

Thompson Thrift is a full-service real estate development company focused on ground-up commercial, residential and mixed-use development across the Midwest, Southeast and Southwest. The company continues to expand its 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 $5 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 from Energage as a winner of a 2024 Top Workplaces USA award and five Culture Excellence awards, the latest accolades that reflect 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
949.427.1385
[email protected]

SOURCE Thompson Thrift