Thompson Thrift Launches 8th Multifamily Development Limited Partnership
Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the launch of Thompson Thrift 2026 Multifamily Development, LP. The offering seeks to raise approximately $230 million in total capital commitments from accredited equity partners who will participate in a multi-project portfolio of ground-up Class A multifamily communities located in dynamic growth markets across the country.
The 2026 offering has identified six multifamily development projects across Georgia, Idaho, Nevada, South Carolina, Indiana and Tennessee, with construction funded by the partnership and Thompson Thrift as the developer.
“We believe multifamily housing is entering a new cycle, creating an especially attractive entry point for investment,” said Paul Thrift, CEO of Thompson Thrift Development. “Our pipeline reflects both the strength of the opportunities ahead and our confidence in our team’s ability to deliver excellence. With demand for quality rental housing at record levels and new supply falling, we are well-positioned to capitalize on the next phase of growth.”
Since positioning its dedicated multifamily business unit in 2008, Thompson Thrift has reached over $6.5 billion in volume and developed over 90 residential communities across 23 states. Thompson Thrift’s portfolio offers three primary standard designs, providing construction efficiency and cost predictability, with a proven track record of delivering high-quality communities that provide a positive resident experience.
The 2026 limited partnership will follow Thompson Thrift’s proven build-lease-sell model, emphasizing capital appreciation and disciplined execution. This strategy has produced a 2.1x equity multiple on full-cycle development properties, with an average investment term of 35 months.
“What makes this structure unique is its simplicity and alignment,” said Greg Fedorinchik, senior vice president of equity capital markets. “Unlike traditional private equity funds, this limited partnership allows equity partners to work directly with the developer, avoiding duplicative fees while gaining access to a clear, disciplined structure that is designed with their priorities in mind.”
Strong relationships with equity partners remain central to Thompson Thrift’s approach.
“We are deeply grateful for the trust placed in us by our equity partners,” said Carrie Thrift LaFay, vice president of equity capital markets. “This milestone marks our eighth multi-project partnership, reinforcing Thompson Thrift’s tradition of integrity and collaboration. Together with our partners, we are shaping communities that create long-term value and make a lasting impact.”
Population growth, household formation and lifestyle preferences continue to drive strong demand for rental housing. With multifamily starts at their lowest in over a decade, combined with strong absorption rates and a widening affordability gap between owning and renting, Thompson Thrift views now as an ideal time to move forward with multifamily development.
“The macroeconomic outlook strongly supports continued demand for multifamily housing,” said Josh Purvis, managing partner of Thompson Thrift Residential. “With this partnership, we are well-positioned to deliver more than 1,800 thoughtfully designed apartment homes in high-growth suburban markets across the country where quality housing is needed most.”
The 2026 limited partnership represents the company’s eighth multi-project equity partnership, building on Thompson Thrift’s nearly 40-year track record of success. Since 2010, the company has deployed more than $1.76 billion in capital and delivered strong, risk-adjusted outcomes across multiple market cycles.
The limited partnership is being offered exclusively to accredited investors pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended (the “Securities Act”). As general solicitation is permitted under Rule 506(c) offerings, purchasers must meet verification requirements for validation of their accredited investor status.
Thompson Thrift has earned national recognition this year with a 2025 Top Workplaces USA award as well as a 2025 Top Apartment Developer and Top Builder from the National Multifamily Housing Council. The company was also honored as Developer of the Year by REjournals at the 2025 Indiana Commercial Real Estate Awards.
