May 3, 2018
Olympus Property, based in Fort Worth, launched its eighth fund by closing on three multifamily properties in separate transactions. The portfolio totals 869 units, with properties in Texas and Arizona.
The acquired properties are:
- The 301-unit Olympus Steelyard (formerly Alta Steelyard), 155 E. Frye Rd., Chandler, AZ, from Wood Partners
- The 300-unit Sundance Creek Apartments, 3700 Edwards St., Midland, TX, from Koontz Corp.
- The 268-unit Sedona Ranch, 8001 Brownstone Rd., Odessa, TX, also from Koontz Corp.
The two Texas assets represented good investments because of their proximity to the Permian Basin. The Chandler property is situated in a growing submarket of Phoenix, near major employment centers. All three complexes delivered within the past five years.
For comments, questions or concerns, please contact Amy Sorter