Thompson Thrift closes on $250 million fund
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Indianapolis-based Thompson Thrift has completed its sixth multifamily development fund valued at $250 million, the company announced Thursday.
The real estate company, which also has an office in Terre Haute, said the fund will support the development, construction and management of Class A multifamily communities.
Specifically, Thompson Thrift plans to use proceeds from the fund to develop seven upscale multifamily projects at various suburban growth markets across the country.
“This successful fundraise is a great validation of our team’s hard work and commitment to excellence,” CEO Paul Thrift said in a news release. “Their real estate expertise, ability to select markets and sites with exceptional demand drivers and established track record of performance continues to be rewarded with strong interest from our valued investment partners.”
Vice President of Capital Markets Carrie Thrift LaFay said 72% of the partners who made investment commitments in the fund are repeat investors.
The company said it has built more than 80 communities totaling more than 21,500 apartments since 2008, with a focus on areas experiencing rapid job growth and increased rental demand.