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Thompson Thrift Divests West Des Moines Luxury Apartments

Thompson Thrift, one of the nation’s leading multifamily developers, announced today the sale of Watermark at Jordan Creek, a 176-unit Class A multifamily community in West Des Moines, IA for an undisclosed amount. The buyer wasn’t identified. 

“We successfully executed our business plan to optimize operations for this high-quality property, and we are pleased to have sold a well-occupied community with healthy in-place rents,” said Josh Purvis, managing partner for Thompson Thrift Residential. 

Located at 6455 Galleria Dr. in West Des Moines, the county’s wealthiest suburb, the 94% occupied community offers four-story buildings with detached garages. Completed in 2015, the one-, two-, and three-bedroom luxury apartment homes feature designer interiors, granite countertops, hardwood-style flooring, energy-efficient appliances, full-size washers and dryers and high-speed internet access.  


Inside The Story

Thompson Thrift

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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