Thompson Thrift closes $250M fund

INDIANAPOLIS (Inside INdiana Business) — Indianapolis-based Thompson Thrift has closed on a more than $253 million development fund. The real estate development firm says the fund will be used to develop 10 upscale multi-family communities and luxury leased homes across the country.

Vice President of Capital Markets Carrie Thrift LaFay says the firm was able to secure the investment in a short amount of time. She says demand for multi-family housing in suburban, growth markets continues to be high.

“This successful fund raise reflects the reputation for excellence that our team has earned over the years,” Paul Thrift, chief executive officer of Thompson Thrift, said in a news release. “I am proud of our teams’ long-standing track record, real estate expertise and our disciplined approach to pursing developments with strong fundamentals. I am grateful for the continued confidence our investment partners place in us.”

Thompson Thrift says it has developed more than 55 communities since adding its multi-family business in 2008. To date, the firm adds it has built more than $2.7 billion in commercial real estate in 20 states.