Olympus Property Launches Eighth Fund with 869-Unit Buy
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.
Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.
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