Thompson Thrift Residential Sells Luxury Multifamily Community Near Houston
Thompson Thrift Residential, a wholly owned affiliate of Indianapolis-based Thompson Thrift, announced the sale of Magnolia, a 336-unit Class A multifamily community located in the Houston suburb of Spring. A private real estate investment firm purchased the community for an undisclosed amount.
“Houston’s housing values have seen healthy growth in recent years and Spring is one of its top-performing suburban housing markets,” said Josh Purvis, managing partner for Thompson Thrift Residential. “This growth, combined with the first-class quality, style and convenience that are hallmarks of Thompson Thrift communities, has made Magnolia a very appealing community for our residents. We are pleased to make a strategic sale that benefits all parties involved.”
Located at 7203 North Grand Parkway West, the 15.5-acre community features one-, two- and three-bedroom apartment homes. David Mitchell with Newmark’s Multifamily Capital Markets brokered the sale for Thompson Thrift.
Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.
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