Olympus Property Acquires Vive, Expands Portfolio

Olympus Property made its second purchase in Chandler, AZ, acquiring the 194-unit Vive apartment community. The Fort Worth-based buyer made a deal with seller P.B. Bell of Scottsdale, AZ for the asset at 1901 W. Germann Rd. The sales price was undisclosed, with the Maricopa County Assessor appraising the asset at $26.8 million. P.B. Bell built the apartment complex, and delivered it to the market in 2014.

In September 2015, Olympus acquired Elevation Chandler, which was once the site of an abandoned hotel and condominium project near the Chandler Fashion Center. The 163-unit Elevation Chandler was added to Olympus’ fifth fund. Vive is the sixth multifamily asset to be added to Olympus Property’s sixth fund.

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