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Watermark Residential

Developing Class A apartment and luxury leased homes across the country

400+ Team Members*

19 States*

13,000 Units*

$2.3 Billion Volume*

*Thompson Thrift combined company numbers as of June 1, 2020.

About Watermark Residential

A thorough process for developing Class A institutional grade apartment and luxury leased homes

Watermark Residential is a national leader in the development, construction, and management of upscale apartment communities and luxury leased homes across the country.

Before development begins on any Watermark product, we go through a thorough research phase—evaluating MSA's throughout the country to ensure the markets we select for our apartment communities, and luxury leased homes meet our investment and site criteria. We focus on demographics, household formation, absorption history, rent growth, population growth, and more.

Next is site selection. All Watermark projects must meet our defined site criteria to ensure a successful project and investment return. Our sites are near high traffic thoroughfares, high-end housing and good schools, high-end retail, services, restaurants, and entertainment and markets with high administrative and geographic barriers to entry that limit the amount of new competition.

Product Types

Class A Apartment and Luxury Leased Homes Product Types

Metro
Classic
Select
Luxe (Townhomes)
Villas

Metro

The Metro is a 3- to 4-story high-density apartment community that allows for a variation in shape, including options of an integrated clubhouse or potential retail space on the first floor, as well as beautiful courtyards and superior amenities (pool, fitness center, gathering areas, grilling stations, dog parks, etc.). Metro apartment homes feature either a balcony or ground floor patio with select ground floor homes featuring puppy porches. Parking options vary from surface-level parking, parking structure, for-rent carports, and/or freestanding single-car garages. The Metro apartment homes are accessible via interior corridors and elevators. The Metro can include up to 32 homes per floor and feature studio, one-, two-, and three-bedroom apartment homes.

Classic

The Classic is a 3-story garden-style apartment building featuring up to 12 units per floor and is accessible via exterior entrances and air-conditioned hallways. The Classic offers one-, two-, and three-bedroom apartment homes. Classic apartment homes feature either a balcony or ground floor patio with select ground floor homes featuring puppy porches. Parking options vary from surface-level parking, for-rent carports, and/or freestanding single-car garages. The Classic community includes a beautifully appointed clubhouse featuring a resort-style pool, fitness center, gathering areas, outdoor grilling stations, dog parks, play areas, etc.

Select

The Select is a 2-story lower density build, housing up to 16 units per building. Each unit offers a private entrance and direct-access garages (in certain homes) with private stairs for all upper levels, giving each apartment home the “feel” of a single-family home. The Select offers one-, two-, and three-bedroom apartment home options. Select apartment homes feature either a balcony or ground floor patio with certain ground floor homes featuring puppy porches. The Select community includes a beautifully appointed clubhouse featuring a resort-style pool, fitness center, gathering areas, outdoor grilling stations, dog parks, play areas, etc.

Luxe (Townhomes)

The Luxe are high-end terrace homes (Townhomes). The Watermark Luxe feature 3-story side-by-side rental homes without neighbors above or below. The Luxe features high-end finishes, an attached 2 car garage, private front door entry, front and back patio and decks, and private outdoor space. Like an apartment home, the Luxe is maintenance-free and offers some amenities found in apartment-style living – ranging from a clubhouse, fitness center, swimming pool, dog parks, etc. with no HOA fees. The Luxe features three- and four-bedroom homes with high-end custom finishes.

Villas

The Villas are Watermark’s high-end semi-detached single, or 2-story designed rental homes that live like single-family homes. Features that differentiate the Villas from a standard apartment home are a shared wall with an adjacent neighbor - no neighbors above or below, private front door entry, attached and private outdoor back patios, and 10 foot ceilings as opposed to standard 9 foot ceilings. Like an apartment home, the Luxe homes are maintenance-free and offer the amenities found in apartment-style living – which can include a clubhouse, fitness center, swimming pool, dog parks, etc. with no HOA fees. The Luxe feature one-, two-, three- and four-bedroom options with high-end custom finishes.

Our Markets

Location is key.

We are developing projects across the country. From apartment communities to luxury leased homes, we have a wide mix of project types and opportunities.

Our Team

World class team members from the ground up

At Thompson Thrift, we strive to achieve our core values of excellence, service, and leadership every day. Our teams work with our partners and residents to ensure they are receiving the service they expect and deserve.

Josh Purvis

Josh Purvis

Managing Partner, Watermark Residential

317-454-8021

Aimee O Connor

Aimee O'Connor

Senior Vice President, Property Management Multifamily

317-853-5448

Brian Southworth

Brian Southworth

Senior Vice President of Acquisitions

317-454-8027

Steve Shaver

Steve Shaver

Senior Vice President of Construction

317-853-5435

Jessica Tuttle

Jessica Tuttle

Vice President of Development - West Region

317-853-5459

Chris Alexander

Chris Alexander

Vice President of Development - Midwest

317-853-5420

Jesse Houghtalen lft

Jesse Houghtalen

Vice President of Development - Southeast Region

317-853-5473

Our Services

Maintenance free lifestyle inside and out

In addition to having outstanding locations in upscale areas, resort-style amenities, and the highest quality unit finishes, Thompson Thrift’s on-site management team is what sets us apart from other for lease homes. Our experienced management teams are committed to the highest level of service for our residents.

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VALUES

The growth that we’ve seen over the past decade at Thompson Thrift has been incredible and really speaks to our core principles and values, and makes everyone excited to show up to work every day knowing there aren’t really many projects out there that are too big or too difficult for us to do.

Josh Purvis, Managing Partner, Watermark Residential