Indianapolis-based Thompson Thrift, a full-service real estate company, announced the closing of Thompson Thrift 2025 Multifamily Development, LP. The limited partnership offering raised more than $255 million in total capital commitments, surpassing the original goal of $230 million. The company said the funds will be utilized to develop a portfolio of geographically diverse, Class A multifamily real estate communities.
“Exceeding our capital-raising goal reflects the strong trust our investment partners place in our team and strategy,” said Paul Thrift, chief executive officer of Thompson Thrift. “With multifamily construction starts at their lowest point in over a decade, we see a significant opportunity to deliver much-needed housing in key markets. We are excited to put this capital to work in building high-quality communities and creating lasting value.”
The 2025 limited partnership, which launched last fall, marks Thompson Thrift’s seventh multi-project development fund. According to Thompson Thrift, the committed funds allow it to strategically launch seven upscale multifamily developments in suburban growth markets nationwide – including Colorado, Florida, Georgia, Indiana, and Kansas – with optimal timing and precision.
“We deeply appreciate the confidence our investment partners place in us, and we’re grateful that 80% of our capital commitments came from repeat partners,” said Carrie Thrift LaFay, vice president of capital markets. “These long-standing relationships are a testament to our consistent and disciplined approach and our commitment to being good stewards of their capital.”
Thompson Thrift has established itself as a leader in developing Class A, luxury multifamily communities across the United States. Its portfolio offers a diverse range of rental options from conventional garden-style multifamily communities to luxury leased villas and townhomes, effectively addressing the varied wants and needs of today’s renters.
Since adding a multifamily business unit in 2008, Thompson Thrift has raised more than $1.6 billion from equity partners to support the construction of 90 communities in suburban locations in 23 states. Its portfolio offers three primary standard designs, which it said provides construction efficiency, cost predictability, and an end product that has been tried and tested.
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. 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.
Last month, Thompson Thrift announced it would develop Stack at Wheat Ridge – a 255-unit Class A multifamily community in the Denver suburb of Wheat Ridge. Construction is expected to be completed in winter 2026. Thompson Thrift 2024 Multifamily Development, LP is providing the equity for the latest development. That offering closed in summer 2024 after successfully raising more than $250 million in equity commitments.
Click here to visit AltsWire directory page.
Read the full article here
