Thompson Thrift

Firm Headquarters: Terre Haute, IN

Date Founded: 1986

www.thompsonthrift.com

This page was updated April 2020

Investment Approach

INVESTMENT THESIS

Produce high quality assets that positively impact our team members and the communities we serve. To demonstrate Excellence, Service and Leadership in our work and to produce above market returns.

INVESTMENT OVERVIEW

Syndicated LP opportunities to invest directly with Developer (GP) in Class A Multi-Family Communities in dynamic growth markets across the United States.

Capital Raise Strategy

Strategy: Deal by Deal

Total Properties Under Management: 50 commercial properties totaling 1.1 million sqft and 18 multi-family properties with 4,857 units

Total Assets Under Management: $1.2 billion

Investments to Date: More than 250

Total Number of Investors: 332

Average Investment: $761k

% of Capital from Top 3 Investors: 25-50%

Minimum Amount: $250,000

Financial Reporting Frequency to Investors: Monthly and Quarterly

Setup to accept charitable capital through the National Christian Foundation or other listing platforms? No

Focused Geographic Regions of Investment: 

• Is all of your activity in the US? Yes,

  • Indiana, Alabama, Colorado, Florida, Ohio, Kentucky, Tennessee,  Arizona, Texas, Oklahoma, Missouri, Iowa, Wisconsin, Illinois, Utah, North Carolina, Arkansas, Michigan, Kansas, Nebraska, Pennsylvania

• What countries outside of the US are you active in

  • N/A

Focused Industries of Investment:

• Multi Family – New Development

• Commercial – New Development 

Company Differentiator:

We are a Real Estate Developer with expertise in Multi-family and Retail Development. We are vertically integrated and possess in-house expertise and staff that include site acquisition, legal, due diligence, design, project management, finance, construction and property management. One of our big differentiators is that we are built to be very geographically diverse and are able to develop real estate throughout the country, moving to markets where opportunity is expanding and moving away from markets where it is contracting. 

Investment Example:

One of our charitable ministries is the local Crisis Pregnancy Center (CPC) in Terre Haute Indiana. After many years in a facility that did not allow the privacy and professional image that the CPC needed to serve its clients, we embarked on a mission to build a new CPC facility. The vision of the Executive Director was to be walking distance to the Campus of Indiana State University (ISU). This appeared to be a very tall order. Through our work we were able to win an RFP to provide off-campus student housing in the downtown core immediately adjacent to the ISU Campus. The project was to provide commercial space on the ground floor and 260 Student housing beds on the top 4 floors. We were able to structure this deal to a position where we were able to donate 7,000 sf to the CPC in a condo unit to be owned by the CPC debt free. We were also able to raise the additional dollars to build out the space to their specifications. The result was the compete renovation of a city block of downtown Terre Haute, new desired off campus student housing integrated into the downtown that fulfilled one of the strategic initiatives of the ISU Strategic Plan, the largest CPC in the U.S. that was now state of the art and owned by our CPC debt free that could provide services to walk-in  ISU students. We were able to structure the deal to be a profitable investment while donating this space to the CPC. As a side bonus, the Planned Parenthood in Terre Haute shut its doors within one year of this CPC opening due to lack of walk in traffic and funding issues!

Previous or Active Portfolio PROPERTIES:

Leadership Team

• Cumulative Leadership Experience in Accredited Investing: 50 or more Years

Paul Thrift | CEO, Thompson Thrift Development

As president of Thompson Thrift Development, Paul oversees the development of the company’s asset portfolio and new market opportunities. He founded Thompson Thrift with partner John Thompson in 1986. Under their leadership, the business has grown into the nationally recognized full-service real estate development and construction company it is today.

During his tenure as its president, Paul has successfully guided Thompson Thrift Development through the competitive real estate marketplace while expanding the company’s portfolio to include multifamily, institutional, industrial and commercial developments across the United States. His innovation and drive have fueled the company’s emergence as one of the country’s top privately owned real estate companies as recognized by Inc. magazine.

In 2008, he co-founded Watermark Residential, a full-service upscale multifamily housing developer. Since then Watermark Residential has developed a regional and national profile. The company continues to grow and develop and is actively working projects in 11 states.

Paul is involved in his community and serves on the Indiana State Chamber of Commerce Board’s Executive Committee, the Terre Haute Chamber of Commerce Board, the Indiana State University Scott College of Business Dean’s Executive Committee and is currently a member of the Terre Haute Tomorrow Steering Committee. He is past chair of the Terre Haute Economic Development Corporation, the Terre Haute Chamber of Commerce Board and the Wabash Valley Red Cross. He holds a bachelor’s degree in political science from Indiana State University.

John thompson | ceo thompson thrift construction

As president of Thompson Thrift Construction, John is responsible for the overall direction of the company, including preconstruction, construction services, and field operations. He founded Thompson Thrift with partner Paul Thrift in 1986. Since that time, the two men have expanded the business into a highly regarded full-service real estate development and construction company.

Under John’s leadership the company has been transformed into one of the country’s premier general contractors, building up an extensive portfolio of multifamily, institutional, commercial, retail, restaurant and industrial projects. During his career, John has been responsible for the construction of more than 400 projects. His direction of the company has resulted in several industry awards for quality.

He is a member of the National Association of Homebuilders Leadership Board and the Indiana Association for Community Economic Development. His professional affiliations also include the American Concrete Association and the Associated Builders and Contractors Association. He is an active member of the community and has served as the board president of the Terre Haute Children’s Museum and a board member of the Boy Scouts of America. He holds a bachelor’s degree in construction management from Indiana State University. 

Ashlee boyd | managing partner, thompson thrift retail group

Ashlee is responsible for the oversight and growth of the company’s retail division, including all site selection, acquisition, development and leasing activities. Ashlee has more than 19 years of experience in the leasing and development of retail real estate. He began his career with a leading “Chain Links” brokerage firm in Phoenix, AZ, where he represented numerous national credit retailers and shopping center owners throughout Arizona. From there, he went on to represent retailers in their national expansion efforts as a consultant and preferred developer, completing numerous deals in several markets throughout the country. Following that experience, Ashlee worked on the development side of the industry, where he has been successfully involved in the leasing and development of 100 ground-up retail projects in multiple markets throughout the country ranging in size from single tenant build-to-suits to large-scale power and lifestyle centers. Since joining Thompson Thrift, Ashlee has successfully lead the completion of retail projects totaling more than $350,000,000 in market value.

He earned a bachelor of science degree in real estate from Arizona State University. He joined Thompson Thrift in 2006. He is a Licensed Real Estate Broker and an active member of the International Council of Shopping Centers.

josh purvis | managing partner, watermark residential

As Managing Partner of Watermark Residential, Josh oversees all facets of the company including site selection, entitlements, contract negotiations, strategic planning, financing and management.

Since joining Watermark in 2008, he has played an integral role in all aspects of the company’s growth which includes 33 developments spread across 11 states throughout the country totaling over $1.1 billion in project costs. Josh has specialized in developing multifamily communities since beginning his career in 2003. To date, he has been involved in over 50 development projects with a total value over $1.6 billion.

jose kreutz | managing partner, mixed-use division

Jose oversees Thompson Thrift’s new Mixed-use Division. In this role, Jose focuses his efforts on the growing demand for projects that combine retail, residential, office and hospitality uses. The Mixed-use Division is a natural evolution for Thompson Thrift, which has developed 2,000,000 SF of individual retail, office and light industrial projects, as well as more than 8,000 Class A apartment units nationwide. This division combines the lessons learned and relationships developed since 1986 as the company became a leader in entitlements, development, construction and property management.

Since joining Thompson Thrift in 2009, Jose has held senior management roles within development operations for Thompson Thrift Retail Group, Watermark Residential. and Thompson Thrift Construction. Jose has spent much of his career assembling, land planning, entitling, designing and constructing residential and commercial projects, many under public-private partnership and he holds a Bachelor of Science degree in Civil Engineering from Purdue University.

Team and CULTURE

While not complete, one of the things investors have found helpful in the past is seeing how employees, customers have reviewed someone online. As of the date of completing this out …

• Glass Door Rating: n/a

• Facebook Review Rating: n/a

Spiritual Integration and Impact:

Faith Driven Investing can span a wide range from high yield to concessionary returns that have a higher level of spiritual integration. Having clear expectations of this philosophy is key for the movement. Each investment is unique and you might want to select multiples but if you had to choose one quadrant that best fits your groups spiritual integration and financial performance targets … What would it be?

From the beginning, Thompson Thrift has always sought projects that will have a positive, transforming impact on the communities in which we are located.  Our culture is shaped by our commitment to our mission: To Positively Impact Our Team Members and the Communities We serve, which is founded in spiritual principles.  We incorporate a scripture stone on every commercial retail project. We have Apartment Life at every multi-family project where Apartment Life has coverage.

Describe the Spiritual Integration Activities:

• From the beginning, Thompson Thrift has always sought projects that will have a positive, transforming impact on the communities in which we are located.  Our culture is shaped by our commitment to our mission: To Positively Impact Our Team Members and the Communities We serve, which is founded in spiritual principles.  We incorporate a scripture stone on every commercial retail project. We have Apartment Life at every multi-family project where Apartment Life has coverage.

Is Impact and Spiritual Integration Tracked?

• We have a division of the company called TT Serve.  One of the Area of Concentrations for TT Serve is Community Giving.  On the right is the breakdown of what areas of the community the financial support impacted.

Are you partnered with any other organizations?

• Apartment Life – in our multifamily developments where available

• Next Step Foundation Inc. – our community service partner

• Crisis Pregnancy Center

A lot of Investing Conversations look at Social Impact related to the United Nations Sustainable Development Goals. Is there one of these that most resonates with your organization?

• Goal #4:  Quality Education

WHY The FAITH DRIVEN INVESTOR?

• Why are you compelled to be certified and a part of the Faith Driven Investor Group?
  I want to be supportive of this effort to organize like-minded Investors and Entrepreneurs. I believe that God has called us to excellence and through exercising our God given gifts in a business setting we can advance the Gospel in a way that is unique. I hope to advance the Kingdom through my work. The Mission statement of our Company is to “have a positive impact on our team members and the communities we serve.” I hope to be able to more fully live out our mission statement by associating with other believers seeking to do excellence in their work while honoring their faith and advancing the Kingdom at the same time.

• Does the leadership align with the Unifying Principles on Faith Driven Investor and agree to the Code of Conduct? Yes

• Who nominated you to be listed on the FDI site? Justin Foreman, Faith Driven Entrepreneur and Faith Driven Investor

AFFILIATIONS- Are you a part of any third party groups, affiliations that you would like to list here?

n/a

Learn More

• Key Contact Name: Paul Thrift

• Phone: n/a

• Email: pthrift@thompsonthrift.com

• Mailing Address: 901 Wabash Ave Suite 300 Terre Haute, In 47807

• Twitter: https://twitter.com/thompsonthrift

• Facebook:  https://www.facebook.com/ThompsonThrift/