Thompson Thrift Secures $463M for 8-Asset Portfolio
Proceeds will retire existing debt backing the primarily Southeastern collection.
Thompson Thrift has obtained $463 million in bridge financing for an eight-property luxury multifamily collection totaling 2,412 units spread across Florida, Georgia and Arizona.
Barings provided the floating-rate, construction take-out loan. JLL negotiated on behalf of the borrower, while Barings had in-house representation.
Loan proceeds will retire previous construction loans across all eight assets. The original debt backing the properties consists of loans ranging from $42 million to $77 million, issued by lenders such as BMO Bank, PNC Bank and BOK Financial, among others, Yardi Matrix information shows.
READ ALSO: A Closer Look at the Multifamily Maturity Wall and Refinancing Crisis
The communities are located across seven markets, out of which five are in Florida. Delivered in 2025 and 2026, the communities range from 268 to 380 units. The entire portfolio totals 153 acres and has an average unit size of 1,023 square feet.
The list of assets includes:
- Standard441, a 300-unit property in Lady Lake, Fla.
- The Junction at Rockledge, totaling 380 units in Rockledge, Fla.
- The Quinn, a 324-unit community in Pensacola, Fla.
- The Stadler, totaling 280 units in Bradenton, Fla.
- The Hadley, including 268 units in North Port, Fla.
- Verity, a 276-unit property in Vero Beach, Fla.
- The Pullman, totaling 276 units in Atlanta
- Stella, a 308-unit property in San Tan Valley, Ariz.
From the Atlantic Coast to the Florida Panhandle
Standard441 has nine buildings across 14 acres in Lady Lake. It sits along the city’s stretch of U.S. Route 441, serving as the main commercial corridor and economic hub of Lake County, while also connecting Lady Lake to major Central Florida hubs.
The Junction at Rockledge, including 19 buildings on 32 acres, is a Space Coast property near Interstate 95. It sits in an area with multiple employers, transit hubs and natural attractions, such as Cocoa Beach and Indian River Lagoon.
The third property is The Quinn in Pensacola, in the Florida Panhandle. It has nine buildings spanning 19 acres and sits along U.S. Route 90, close to Interstate 10, in an area with access to Gulf Coast business hubs and the Port of Pensacola.
The Stadler is located on the Southwest Florida Coast, in the North Port–Bradenton–Sarasota metropolitan area. The two-building community sits on the outskirts of Lake Flores, the 1,175-acre, master-planned and mixed-use community. Also in the area is The Hadley in Sarasota County, located some 48 miles southeast. Situated on 28 acres in North Port, it is close to Interstate 75, providing access to Fort Myers and Tampa.
The last Florida property in the collection is Verity, an eight-building community occupying 19 acres in Vero Beach. It sits near Vero Beach Regional Airport, close to U.S. routes 1 and 713, with good connections to the Port St. Lucie, Fla., metro area.
A broader multifamily collection
The Pullman, in the Union City suburb of metro Atlanta, is also part of the portfolio. It comprises eight buildings on 14 acres, close to interstates 85 and 285, near Hartsfield-Jackson Atlanta International Airport.
The last property is Stella, a 12-building community occupying 20 acres. It is in northern Pinal County, close to the Queen Creek suburb of Greater Phoenix.
Top multifamily amenities shared by all communities in the collection include swimming pools, fitness centers, social lounge spaces, coffee bars, business centers and pet spa centers. Outdoor amenities comprise courtyards, gas fire pits, picnic and barbecue areas, pickleball courts and dog parks. Additional features include detached garages for rent, guest parking spaces and EV charging stations.
CEO & Executive Managing Director Mark Gibson was part of the JLL team alongside Executive Managing Director Matthew Lawton, Senior Managing Director Danny Kaufman and Director Medina Spiodic, working on behalf of Thompson Thrift. Barings Senior Director Daniel Hedgepeth worked for the lender.
Focus on Southeast multifamily markets
Thompson Thrift is steadily increasing its footprint. The company has built more than $7.9 billion in ground-up projects across 25 states.
In the Southeast specifically, the developer has expanded in several markets as of late, also entering a couple of new ones. Since July, the company has been working on The Foundry at Mosaic, a 300-unit luxury project in the Savannah Quarters neighborhood of Pooler, Ga. This is Thompson Thrift’s second project in that area.
More recently, Thompson Thrift entered South Carolina with a 327-unit project. Dubbed The Whitmore at Ingleside, the community is underway and is taking shape in North Charleston.
