Thompson Thrift Announces Sale of The Element in Kansas City, Missouri

KANSAS CITY, Mo., Sept. 28, 2022 /PRNewswire/ — 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.