Watermark Multifamily Development Fund IV closes at $253m

Thompson Thrift, an Indianapolis-based full-service real estate company, has closed the Watermark Multifamily Development Fund IV with $253 million in equity commitments.

The capital will be deployed to develop 10 upscale multifamily communities and luxury leased homes in geographically diverse suburban growth markets across the United States.

Thompson Thrift builds class A institutional products in secondary markets with a range of conventional, luxury leased villa- and townhome-style communities. The company has constructed more than 55 communities in affluent suburban locations in the Midwest, Southeast, and Southwest after adding a multifamily business unit in 2008.

“We are humbled and greatly appreciative of the strong interest we received from investors and are pleased to have fully subscribed our offering in a very short time,” said Carrie Thrift LaFay, vice president of capital markets. “High demand continues for multifamily housing in suburban gro