Source: Thompson National Properties / #Multifamily #Apartments
IRVINE, CA - Thompson National Properties, LLC (TNP) announced the acquisition of Thompson/Post Reserve Apartments, a 158-unit, Class A townhome-style apartment community situated on a 7.55-acre site in Evansville, Indiana, on behalf of Section 1031 exchange and other investors. TNP has successfully sponsored 10 Delaware statutory trust (DST) programs on behalf of more than 500 DST investors since late 2008.
Reserve Apartments was constructed in phases between 2008 and 2010. The property includes numerous upgrades, such as 9' ceilings or vaulted 14' ceilings, hardwood floors and granite countertops. The property offers a mix of one, two or three bedroom apartments with various floor plans, ranging in size from 763 square feet to 2,114 square feet. Property amenities include: luxurious upgrades, swimming pool with outdoor lounge, community lounge with free internet, billiards room, sundeck and fitness center.
"TNP sponsors DST programs for exchange investors seeking tax-deferral under Section 1031 of the Internal Revenue Code as well as cash investors. TNP's DST programs invest in multi-family communities like Reserve Apartments and credit tenant properties. This latest acquisition of a Class A apartment community in a desirable neighborhood was financed by Fannie Mae with a 3.94% interest rate fixed for a 10-year term. The DST programs are designed to satisfy investor demand for both stable cash flow and growth," said Louis Rogers, TNP's managing director of private programs.
Thompson National Properties, LLC (TNP) is a real estate advisory company, specializing in the creation and management of real estate investment funds. TNP uses a variety of investment structures to fit the needs of its investors, which are designed for retail and high net worth individual investors. TNP is also involved heavily in both third-party property and asset management and receivership services, a key element in any successful commercial real estate investment in today's lender-driven marketplace.