JACKSONVILLE, FL – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, recently hosted a ribbon cutting for Terrassa, a 324-unit Class A multifamily community that is part of the redevelopment of the former St. Augustine Outlets property located off I-95 in the growing market of St. Augustine. The first Terrassa residents started moving in in September 2025.
“We’re excited to celebrate the official opening of Terrassa and welcome residents to a thoughtfully designed community in one of Florida’s most sought-after coastal markets,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “Terrassa complement’s the charm and character that define St. Augustine while delivering a modern, elevated living experience for residents.”
Terrassa’s one-, two- and three-bedroom garden-style apartment homes offer up to nearly 1,400 square feet of living space and feature premium, in-demand amenities and finishes including granite countertops, stainless steel and energy-efficient appliances, a full-size washer and dryer, hardwood-style flooring, tile backsplashes, designer fixtures and finishes, large walk-in closets, detached garages, and private yard and patio options. High-speed internet access ensures seamless connectivity for residents while energy-efficient LED lighting and Alexa-compatible smart light switches, locks and thermostat help residents save on energy costs.
Community amenities include a 24-hour fully equipped fitness center, a heated resort-style swimming pool, Mediterranean-inspired courtyards, community grilling areas, a pickleball court, an on-site dog park with agility equipment, and a pet spa with a grooming station. The 24-hour social hub features billiards, a coffee bar, private focus rooms and a work area with a printing station.
Located near Vilano Beach and just minutes from downtown, Terrassa provides the perfect balance of retreat and convenience, providing residents with convenient access to a variety of local entertainment, shopping and dining options, including Ford’s Garage Restaurant and the St. Augustine Premium Outlets.
At the ribbon-cutting, visitors toured the model home and explored the professionally decorated clubhouse and community amenities. As part of Thompson Thrift’s ongoing commitment to community engagement, they presented a check to local nonprofit S.A.F.E. Pet Rescue to support their efforts to rescue animals facing euthanasia. Additionally, Thompson Thrift waived the one-time pet adoption fee for any Terrassa resident who adopted a pet at the event from S.A.F.E.’s mobile adoption van.
“Supporting S.A.F.E. Pet Rescue and celebrating pet adoptions at Terrassa reflects our commitment to making a welcoming community where both people and pets feel at home,” added Atkins.

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HOUSTON, TX – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of Gables Post Oak in Houston, TX. The successful close represents the 17th investment in Knightvest’s Fund II.
The 316-unit mid-rise community is located in the desirable Post Oak submarket of Houston, situated between the prestigious River Oaks neighborhood and the Uptown Business district. Knightvest will implement a comprehensive renovation program with plotted improvements to the leasing center, fitness center, and resident lounges. Knightvest will also fully renovate the majority of the unit interiors. As part of the renovation efforts, Knightvest has renamed the community to Hollings Post Oak.
“Hollings Post Oak is a rare find and a high-quality community in one of Houston’s most sought-after submarkets, bought at a meaningful discount to replacement cost,” said David Moore, Knightvest founder and CEO. “This is exactly the type of opportunity Fund II was designed to pursue: a well-located asset with a clear path to value creation. Our team has the expertise to fully transform this community and deliver a living experience that is a compelling, affordable alternative to newer construction in the area.”
Houston has been a core region for Knightvest as part of the company’s deep-market strategy, focusing on developing deep expertise and scale in fewer, more concentrated markets. As the fourth-largest MSA in the United States, Houston has consistently ranked among the top five markets in the country for employment growth, with two of the nation’s ten highest-growth counties located within the MSA. The market has proven resilient in the face of elevated supply following a post-pandemic development surge, and Knightvest remains confident in its long-term fundamentals.

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PHOENIX, AZ – The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, announced the financial closing and groundbreaking of an upscale, 353-unit multifamily development within Medina Station, a 60‑acre master plotted community in Mesa, Arizona.
The four‑tale, elevator‑served community will be built on a 10‑acre parcel in the northeast quadrant of the master plot, bringing thoughtfully designed apartment homes to families, working professionals and students in one of the fastest‑growing corridors in the Southeast Valley of the Phoenix metropolitan area.
Project financing was provided by Origin Investments as the equity partner, with debt capital from lender U.S. Bank. This represents the first investment for Origin s Select Asset Fund and the third time The NRP Group and Origin Investments have partnered together in a new ground-up development. Origin Investments is also an equity partner in NRP Group s 353-unit Haynes Lofts community in San Antonio and a 340-unit Class-A development in East Austin.
We identified this pocket of Mesa as a unique and compelling opportunity due to its strong demographics, gorgeous surroundings and exceptional commercial offerings, said Austin Kates, Vice President of Development at The NRP Group. This community will provide high‑quality homes in a walkable environment surrounded by established retail, dining and employment hubs. What sets this site apart is its suburban location paired with direct proximity to top retail offerings, enabling residents to access everyday conveniences without needing to get in their car. We re thrilled to bring a thoughtfully designed community to Medina Station and contribute to the continued growth of the Southeast Valley.
Located at 10941 E Southern Ave., the development is within walking distance of major commercial retailers in Medina Station and the surrounding area, including Target, Sprouts Farmers Market, EōS Fitness, a variety of sit-down and quick-casual dining options, and personal service providers. The site offers convenient access to US-60 and Loop 202, providing direct connectivity to key regional employment centers such as the Elliot Road Technology Corridor, Mesa Gateway Airport, and surrounding hospital networks. Approximately 15 minutes southeast of the property is LG Energy Solutions $5.5 billion battery manufacturing campus, which is currently under development and expected to generate thousands of new jobs in the area. In addition, the community is well positioned near educational institutions, including ASU s Polytechnic Campus and A.T. Still University.
Medina Station is well positioned to be a premier development in Mesa, said Jacob Sojka, Vice President of Acquisitions at Origin Investments. The project benefits from a strong location within a mixed-use community that includes plotted retail, making instant appeal. In addition, NRP s reputation as a tier-one developer adds meaningful experience, credibility, and scale.
The new community will include a mix of studios and one-, two- and three-bedroom residences totaling more than 340,000 square feet of rentable space. In addition to the main four-tale building, six two-tale carriage-style buildings will be located around the perimeter of the property, offering direct-access units as well as rentable garage space for residents.
The architectural design takes inspiration from the master plot s desert modern aesthetic and natural surroundings. Residences will include washer and dryer units, private balconies, stainless steel appliances, quartz countertops, walk-in closets and private yards in select units, as well as unobstructed views of the Superstition Mountains.
Residents will have access to a robust amenities package designed around wellness, convenience and connection, featuring a resident clubhouse lounge with coffee stations, a business center with coworking spaces, a fully equipped fitness center and an outdoor pool area complete with a spa jacuzzi, cabanas and grill stations. Residents will also delight in a dedicated dog park, landscaped courtyards with fire pits, comfortable seating areas and a golf putting green. Additional conveniences include surface parking, carports, garages, rental storage units and pedestrian access gates that provide direct walkability to the commercial offerings within the Medina Station master plot.
The Phoenix metro area remains a priority market for The NRP Group, underscoring the firm s strategic commitment to one of the fastest-growing counties in the U.S. In December, the firm broke ground on Desert Sky, a 288-unit affordable housing community in West Phoenix. This expansion reflects strong confidence in the region s long-term rental housing market, driven by robust job growth and sustained year-over-year in-migration patterns. The NRP Group has developed more than 67,000 apartment homes in 17 states since 1994 and currently manages over 30,000 residential units across the U.S.
Construction of the new 353-unit community will start later this month, with completion expected in 2028.

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