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
jennifer@spotlightmarcom.com
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SOURCE Thompson Thrift