Thompson Thrift has recently sold Avenue64, a Class A multifamily community located in the affluent suburb of O’Fallon near St. Louis. The property was purchased by Bonaventure Holding Company for an undisclosed amount, with the sale brokered by CBRE’s George Tikijian, Hannah Ott and Matt Bukhshtaber.
According to Josh Purvis, managing partner for Thompson Thrift Residential, O’Fallon is consistently recognized as one of the top cities to live in within the Midwest and is experiencing steady population growth. Situated at 1000 Watermark Drive on a 17-acre site near major employers such as CitiMortgage and Progress West Hospital, Avenue64 offers easy access to MasterCard’s Global Operations Headquarters just a five-minute drive away.
The apartment community boasts high occupancy rates at 95% since its completion in 2023 and features premium interior finishes throughout its one-, two- and three-bedroom units. “Properties like Avenue64 that are well-managed with prime locations continue to attract strong interest from buyers,” said George Tikijian of CBRE who also noted that sellers have more control over pricing due to this demand.
