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Thompson Thrift has raised more than $255 million for its seventh multi-project fund that will allow the real estate firm to pursue high quality multifamily developments.

The proceeds exceeded the Indianapolis-based firm's initial target of $230 million. The Thompson Thrift 2025 Multifamily Development, LP. fund received 80 percent of its commitments from repeat investors in the company.

Thompson now plans to target seven multifamily developments. Particularly, it will focus on putting together "diverse" Class A multifamily communities in "suburban growth areas" across the country, according to the developer.