Fort Worth-based Olympus Property announced Nov. 30 it has closed on the purchase of Broadstone Sierra Pines, a Class-A garden style community built in 2014 and located in Woodlands. The property has been renamed Olympus Sierra Pines.
Olympus Sierra Pines will be the fourth asset added to Opportunity Fund II, offering investors direct participation in a diversified portfolio of Class A multifamily projects, consisting of development projects, lease-up properties, and fully stabilized assets. No price for the transaction was released.Â
“Our second Opportunity Fund is based on the same core competencies and investment criteria that Olympus has utilized over the past 26 years, leveraging our experience and relationships to acquire the most exceptional Class A assets across the country,” said Braden Barr, senior investment officer at Olympus Property.
Developed in 2014 by Alliance Residential, Olympus Sierra Pines is located in the Woodlands master-planned community which is one of the most difficult areas to build multifamily in the entire Houston MSA , according to an Olympus news release.
“Olympus Property consistently targets assets with definitive upside that are located in thriving submarkets across the nation. Sierra Pines checks all these boxes and is an exceptional long term addition to our portfolio,” said Anthony Wonderly, principal of Olympus Property.
Olympus Sierra Pines’ amenities include a centrally located 4 story garage providing direct access to interior corridors, a resort-style pool with entertainment seating, clubroom with billiards and poker table, and a state-of-the-art fitness center with yoga space. Unit features incorporate granite countertops, stainless steel appliances, solid bamboo flooring, and tile backsplashes.
Founded in 1992, Olympus Property owns and manages multifamily properties with over 17,000 units owned and operated across 10 states.
http://www.OlympusProperty.com
