Thompson Thrift Sells Avenue64 Near St. Louis, Missouri

ST. LOUIS, July 10, 2024 ~ Thompson Thrift, a nationally recognized real estate company, has recently announced the sale of Avenue64, a luxurious multifamily community located in the affluent suburb of O'Fallon in St. Louis. The property was purchased by Bonaventure Holding Company for an undisclosed amount, with the sale being brokered by CBRE's George Tikijian, Hannah Ott, and Matt Bukhshtaber.

According to Josh Purvis, managing partner for Thompson Thrift Residential, O'Fallon has been consistently ranked as one of the best cities to live in the Midwest and has seen steady population growth. The development of Avenue64 was aimed at providing high-end living options for residents, and its success adds to Thompson Thrift's portfolio of successful developments.

Situated at 1000 Watermark Drive between I-64 and Highway K, Avenue64 is conveniently located just 30 minutes west of downtown St. Louis. The 17-acre community is also within close proximity to major employers such as CitiMortgage and Progress West Hospital, as well as MasterCard's Global Operations Headquarters.

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Completed in February 2023, Avenue64 boasts a 95% occupancy rate and offers one-, two-, and three-bedroom apartment homes with premium interior finishes including 9-foot ceilings, glass cooktop stoves, stainless steel appliances, quartz countertops in gourmet bar-kitchens, walk-in closets, garden tubs, and full-size washers and dryers.

Residents can also enjoy a range of community amenities such as a 24-hour fitness center equipped with state-of-the-art equipment, a resort-style swimming pool with cabanas and entertainment areas, a pet-friendly bark park, and a doggie spa.

George Tikijian from CBRE commented on the sale stating that top-quality properties like Avenue64 continue to attract buyers due to their prime location and excellent management. He also mentioned that sellers have the advantage when it comes to pricing and terms.

Thompson Thrift is a full-service real estate development company with a focus on commercial, residential, and mixed-use projects across the Midwest, Southeast, and Southwest regions. The company has plans to expand its reach with eight new residential developments in 2024, including ventures in Georgia, Utah, and Idaho.

With a track record of investing over $5 billion into local communities since its establishment almost 40 years ago, Thompson Thrift has earned a reputation as a trusted partner committed to developing high-quality and attractive commercial and multifamily communities.

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