Thompson Thrift Closes $222M Multifamily Development LP, Plans Seven Projects Across Five States
Indianapolis-based Thompson Thrift, a full-service real estate company, closed Thompson Thrift 2026 Multifamily Development LP with more than $222 million in total capital commitments from over 350 investment partners, including accredited investors, qualified purchasers, registered investment advisers, and select institutions.
The company said the offering sought to raise between $200 million and $230 million and represents Thompson Thrift’s eighth multi-project equity partnership. It will fund seven new Class A multifamily developments across growth markets nationwide.
“Closing this partnership at the start of our 40th year is both humbling and energizing,” said Paul Thrift, chief executive officer of Thompson Thrift Development. “We are grateful for the continued trust of our partners and are proud to carry forward the values that have guided our company to become a national leader in multifamily development.”
According to the company, it emphasizes a data-driven approach to market selection and disciplined site criteria, alongside standardized design that drives cost efficiencies and resident satisfaction, contributing to long-term value creation across the portfolio. Since positioning its multifamily division in 2008, the company has delivered strong, consistent performance for its partners, deploying more than $1.9 billion from equity partners to support the development of over 27,000 multifamily units, representing more than $6.1 billion in volume.
“As multifamily fundamentals strengthen, we continue to see compelling opportunities to develop well-located, high-quality housing in markets with strong demand,” said Greg Fedorinchik, senior vice president of equity capital markets. “Improving market conditions are creating an attractive entry point for new development, and our disciplined model allows us to execute effectively.”
The partnership will support the ground-up development and construction of multifamily communities spanning Georgia, Idaho, Nevada, South Carolina and Tennessee with Thompson Thrift as the developer. The launch of its first multifamily community in Nevada will mark the company’s entry into its 24th state.
“The depth, diversity and quality of our 2026 pipeline reflect the strength of our development and acquisitions platform,” said Josh Purvis, managing partner of Thompson Thrift Residential. “Long-term demographic trends continue to drive strong demand for rental housing, and this partnership will deliver more than 2,000 thoughtfully designed homes that create value for our residents, partners and the communities we serve.”
Over the past 40 years, Thompson Thrift has invested more than $7.1 billion in local communities and has become known as a developer engaged in all aspects of development, construction, leasing, and management of real estate projects across the country.
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.
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