Thompson Thrift, a full-service nationally recognized real estate company, announced today the sale of The Element, a 276-unit multifamily community located in Kansas City. Minneapolis-based Timberland Partners purchased the community.
“Population growth and affordable living costs relative to other Midwestern metros has made Kansas City a popular multifamily market in recent years,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We built The Element to help meet market demands for residents seeking high-end, luxury living options, and are pleased to have another development success story under our belts.”
The Element, located at 8101 NW Barrybrooke Drive, features three-story, garden-style apartment homes with one-, two-, and three-bedroom layouts averaging 958 square feet. Completed in November 2021, the 95% leased community offers luxury interior amenities including granite countertops, stainless-steel appliances, hardwood-style flooring, designer fixtures and finishes, large walk-in closets, patio or balcony options, private yard options, detached garages, and full-sized washer and dryers.
Residents enjoy resort-style living throughout the community with amenities such as a fully equipped fitness center with 24-hour access, swimming pool, fire pit with seating area and community grilling, Starbucks coffee bar, two dog parks and a pet spa. The location is further enhanced by its proximity to Boardwalk Square, Barrywood Crossings and the brand-new Edgewood Farms retail center, providing residents with convenient access to an array of entertainment, dining and retail options.
Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Throughout its history, the company has invested more than $3.8 billion and has become known as a trusted partner committed to developing high-quality, attractive projects in select markets across the country.
Gabe Tovar with Northmarq brokered the sale.
About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver, Houston and Phoenix. Three business units drive Thompson Thrift’s success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail, industrial and commercial projects across the country. We are passionate about our customer’s success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com
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