Thompson Thrift Sells 336 Units in Colorado
This is the latest in a string of recent transactions in the state for this investor.
The Wolff Co., a Scottsdale, Ariz.,-based real estate investment and development firm, purchased Notch66, a 336-unit luxury multifamily community in Longmont, Colo., near Boulder. The buyer acquired the property through a core-plus acquisition vehicle from developer Thompson Thrift. The sale price was not disclosed.
Watermark 2021 Development Fund III LP provided equity for Notch66, which finished construction in June 2024. LP. Thompson Thrift secured a $67.5 million construction loan from Wells Fargo Bank for the project in February 2022, according to Yardi Matrix data. At the time of sale, the community was 93 percent leased to The Wolff Co.
CBRE Vice Chairmen Shane Ozment and Terrance Hunt along with Senior Transaction Managers Chris Hart and Brad Schlafer represented Thompson Thrift in the transaction.
Up a notch
Located at 2514 Main St., near Ute Highway, the 18.4-acre property is composed of 10 three-story buildings containing a mix of one-, two- and three-bedroom floorplans averaging 997 square feet. The mean rent is $2,067, according to Yardi Matrix.
Residences feature quartz countertops, stainless steel appliances, hardwood-style flooring, full-size washers and dryers, walk-in closets, smart locks, private balconies or patios. Select units have private yards and detached garages.
Community amenities at Notch66 include a clubhouse with resident gathering spaces, community-wide Wi-Fi, a heated swimming pool, a fitness center, a barbecue area, a bocce ball court, a dog park and a pet spa.
Notch66 is adjacent to a Walmart Supercenter and 3 miles from downtown Longmont. The property is about 19 miles from Boulder and some 40 miles north of Denver.
Active in the Centennial State
Thompson Thrift, a national, full-service development and construction company, has developed 22 communities in Colorado. The firm has two offices in Indiana—Terre Haute and Indianapolis—as well as locations in Denver, Phoenix and Houston. Since its founding in 1986, Thompson Thrift has invested more than $7.1 billion in residential and commercial properties.
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In November, the company started construction on two residential properties in the Colorado Springs area. The Maverick is a 300-unit community located in Monument, Colo. that is slated for delivery in February 2027. The 18-acre property will comprise garden-style apartment buildings with one-, two- and three-bedroom floorplans.
The same week, Thompson Thrift announced it was beginning development of Venture on Venetucci, a 336-unit community on 16.5 acres in Colorado Springs set for completion in March 2027. It will also have one-, two- and three-bedroom layouts.
Earlier last year, the firm began construction on Stack at Wheat Ridge, a 255-unit project located in the Denver suburb of Wheat Ridge, Colo. That project is slated for delivery this quarter.
In May 2025, Thompson Thrift sold Upland Flats, another 300-unit community in Colorado Springs, which it had completed in 2023. NALS Apartment Homes acquired the property for $81.2 million, according to Yardi Matrix.
