COLORADO SPRINGS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the development of The Garrison, a 336-unit Class A multifamily community in the Colorado Springs suburb of Fountain. Thompson Thrift plans to welcome new residents starting late 2024.
“The Colorado Springs area is recognized for its top-quality educational system, ample job opportunities, and an abundance of outdoor recreational activities,” said Josh Purvis, managing partner for Thompson Thrift Residential. “These factors have spurred population growth and The Garrison presents us with an brilliant opportunity to provide a highly desired luxury living rental option for area residents.”
The Garrison will be located near the intersection of Mesa Ridge Parkway and Fountain Mesa Road, adjacent to Fountain’s two major arterials and with simple access to Interstate 25. The development site spans 22 acres and Thompson Thrift will utilize the land’s natural undulation with thoughtful grading to provide unobstructed views of the Cheyenne Mountain range for the 10 three-tale, garden-style buildings. The company is also utilizing native landscaping material that will enhance the natural setting with minimal need for supplemental watering.
Residents will be able to choose from one-, two- and three-bedroom floorplans that will offer up to 1,369 square feet of living space. Thompson Thrift is known for curating amenities and finishes that are on par with for-sale homes and each apartment home will offer gourmet kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, as well as patio, balcony, and private yard options.
Luxury living will extend throughout the community with amenities such as a professionally decorated clubhouse, resort-style heated swimming pool, 24-hour fitness center, community grilling area, a dog park, convenient Wi-Fi for resident use, pavilion, community garden and more.
Residents will delight in walkability to The Markets at Mesa Ridge, a regional shopping center anchored by Safeway, Lowe’s and Walgreens, as well as small commutes to the area’s major employers including Peterson Space Force Base, Memorial Hospital and Fort Carson, the largest employer in the state of Colorado.
Colorado Springs possesses one of the most educated workforces in the country, with top-notch talent among trades and technology. Lockheed Martin, Bal Seal, Philips, Hewlett Packard, Oracle and more than 140 additional companies leverage their talented job force with fantastic job security due to the stable presence of five U.S. military installations. In recent years, Colorado Springs earned accolades for the most educated city from CNBC and most innovative schools from U.S. News & World Report.
During the past 30 years Thompson Thrift has developed more than $4 billion of ground-up development projects across the Midwest, Southeast and Southwest. The company made a name for itself by being one of the few developers to build high-quality, attractive Class A residential communities with a variety of conventional, luxury leased villa and townhome-style communities.
Thompson Thrift is active throughout the state, with eight communities currently under management or under development.

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SEATTLE, WA – Security Properties completed its final Capital Call for Security Properties Multifamily Fund VI, a $200 million moderately leveraged, geographically diversified private equity real estate fund that invested primarily in institutional joint ventures as the General Partner. The structure of these investments afforded Fund VI members an opportunity to participate in shared potential promoted interests in various joint ventures with institutional partners.
Fund VI invested in existing apartment communities in 11 MSAs, from the Nashville and Austin Metros to the West Coast. In total, Fund VI made 28 multifamily investments. Twenty-six of these (80% of Fund VI’s committed equity) are co-GP investments, where Fund VI Members participate as LP’s of the General Partner, an affiliate of Security Properties, and have an opportunity to participate in the General Partner’s share of any promoted returns. Two other Fund VI investments (20% of Fund VI’s committed equity) are directly owned by Fund VI, without an institutional partner.
In total, Fund VI combined its $200 million of committed equity (10%, or $20M, of which, was co-investment from the firm and its employees) into joint ventures with 13 different institutional partners. These institutional partners contributed an aggregate of $780 million of equity, and, together, Fund VI and these institutional partners collectively bought $2.1B of multifamily real estate, comprised of 6,400+ units. Total leverage on the fund was approximately 60% loan to cost.
Security Properties initially targeted a $150 million raise for Fund VI, expandable to a maximum of $200M. Fundraising commenced in Summer of 2021. Although the fundraise was initially projected to take over two years, Fund VI raised the maximum of $200 million in six months.
Fund VI was the sixth in a series of increasingly larger funds that have sought to team accredited investor and smaller institutional capital with Security Properties’ roster of 30 institutional partners in one-off acquisitions. These institutional partners have utilized Security Properties’ nearly 700-person operating and property management platform to allocate capital into over 130 existing, cash-flowing market-rate multifamily properties since 2010.
Ed McGovern, Managing Director of Capital Markets, added “Security Properties has had a long history of working with private individuals to invest in multifamily real estate going back to its founding in 1969. We strive to be communicative, responsive and transparent. We structure our investments so that interests are aligned for all participants and offer the ability for our investors to participate in a large portfolio of institutional apartment real estate.”

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DETROIT, MI – The partnership of Oxford Capital Group, Hunter Pasteur, and The Forbes Company announced the topping off of the multi-family project, Perennial Corktown in Detroit, Michigan. The community will start pre-leasing apartment units in Spring 2023.
The project includes the seven-tale apartment complex, seven townhomes, a three-tale parking garage, and more than 12,000 square feet of retail space. It is adjacent to the luxury lifestyle Godfrey Hotel that Oxford and Hunter Pasteur are separately developing, which will open this summer. Leasing for tenants in the retail space at Perennial Corktown is currently underway with the first lease already signed.
The development is set to open in November 2023, debuting 188 units including a combination of studio, 1-bedroom, and 2-bedroom, in addition to seven luxury 3-bedroom townhomes. Residential tenants of Perennial Corktown will have access to an array of premier onsite amenities, including an outdoor pool and deck area, community co-working space, workout room with a yoga studio, outdoor amenity deck, club room with private dining and rentable rooms, demo kitchen, and more. With the goal of making a strong community within the building, Perennial Corktown will activate unique programming in common spaces for residents to delight in throughout the year.
“With Corktown’s rich history, increasing visibility, and growing popularity in Downtown Detroit, we are thrilled to join the thriving community of businesses and look forward to welcoming new residents and locals to the Perennial Corktown complex in 2023,” said John W. Rutledge, Founder, Chairman and CEO of Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC.
“We are pleased with the significant construction progress that has been made at our Perennial Corktown Project, and completing the superstructure is an vital milestone. We are equally pleased that our projects are bringing to fruition vital community benefits, including but not limited to workforce development, employment, tax base, sustainability and infrastructure investment.” said Seth Herkowitz, Partner at Hunter Pasteur.
The complex will feature an expansive 12,000 square feet of retail space across the ground floors of the apartment building and parking garage, which will be ideal for the community of businesses looking to expand in the heart of Corktown, one of the most dynamic and rapidly growing submarkets in Detroit. Corktown Market is the first confirmed business to join the Perennial Corktown with 2,033 square feet of retail space. The market will be a new full-service neighborhood grocery store set to open in the Fall of 2023, and is committed to providing fresh, affordable, and local products to residents, with a full-service deli and coffee bar that includes indoor and outdoor seating.
“As lifelong Detroiters, we couldn’t be more excited to be a part of the Perennial in Corktown! This vibrant community holds a special place in our hearts, and we’re honored to contribute to its growth by the opening of our market,” says Hadwan Hadwan, owner of Corktown Market.
Across the street and opening in Summer 2023, will be The Godfrey Hotel Detroit, a 227-room luxury lifestyle hotel. From Oxford Capital Group, LLC and Hunter Pasteur, the property will feature an indoor/outdoor rooftop lounge with expansive views of downtown Detroit and Corktown, a 6,000 square foot ballroom that will accommodate events of more than 350 guests, an additional outdoor events venue, and a fitness center.

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