EVANSVILLE, IND.—Thompson National Properties L.L.C. (TNP), based in California, has acquired the Thompson/Post Reserve Apartments, a 158-unit, Class A townhome-style apartment community situated on a 7.55-acre site in Evansville, Ind., on behalf of Section 1031 exchange and other investors.
Constructed between 2008 and 2010, Reserve Apartments includes 9-ft. ceilings and 14-ft. vaulted ceilings, hardwood floors and granite countertops. A mix of one-, two-and three-bedroom apartments are available, featuring a variety of floor plans and ranging in size from 763 sq. ft. to 2,114 sq. ft.
Amenities available to tenants include swimming pool with lounge, billiards room, sundeck and fitness center.
"TNP sponsors DST programs for exchange investors seeking tax-deferral under Section 1031 of the Internal Revenue Code as well as cash investors,” said Louis Rogers, TNP’s managing director of private programs. “This latest acquisition of a Class A apartment community in a desirable neighborhood was financed by Fannie Mae with a 3.94 percent interest rate fixed for a 10-year term. The DST programs are designed to satisfy investor demand for both stable cash flow and growth.”