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Thompson Thrift Sells Multifamily Property Near St. Louis
Thompson Thrift announced the sale of Avenue64, a 316-unit Class A multifamily community located in the affluent St. Louis suburb of O’Fallon. Bonaventure Holding Company purchased the property for an undisclosed amount. George Tikijian, Hannah Ott and Matt Bukhshtaber of CBRE brokered the sale.
“O’Fallon has been noted as one of the best cities to live in in the Midwest and continues to see steady population growth,” said Josh Purvis, managing partner for Thompson Thrift Residential. Located at 1000 Watermark Drive, the 17-acre apartment community is situated near CitiMortgage and Progress West Hospital, two of the metro’s largest employers, and only a five-minute drive from MasterCard’s Global Operations Headquarters.
The 95% occupied community was completed in 2023 and features one-, two- and three-bedroom apartment homes with premium interior finishes. “Top-quality, well-located and well-managed assets like Avenue64 continue to generate keen interest from buyers and provide sellers with the ability to be in the driver’s seat on pricing and terms,” stated George Tikijian, vice chairman of CBRE.
