FRISCO, TX—A recent acquisition is the third apartment community to be added to Olympus Property's seventh fund, WW Olympus Property VII LLC. This fund provides a geographically diverse blend of several multifamily assets throughout the United States to provide investors stabilized cash flow over time.
Olympus Property expanded its Texas portfolio with the acquisition of Boulevard at Frisco Square. The multifamily community will undergo a name change effective immediately to Olympus Boulevard. The acquisition price was undisclosed.
“Olympus Boulevard is located in one of the strongest job growth submarkets in the United States. The deal was acquired on an attractive basis with plenty of room for upside,” said Chase Bennett, senior acquisitions manager at Olympus Property.
Completed in 2009, the 282-unit luxury mid-rise community is located along the Dallas North Tollway growth corridor, specifically within Frisco's $5 Billion Mile and north of Legacy Business Park. These two job centers include the highest concentration of suburban corporate America coupled with the strongest high wage job growth story within the country.
The property is located within Frisco Square, a master-planned live/work development funded in part by the city of Frisco. Frisco is one of the top submarkets in Dallas-Fort Worth, and is currently ranked as the second-fastest growing city in the country with a median household income of more than twice the national average at $123,055. Since 1991, Frisco has lured more than 200 companies to the area, creating and sustaining more than 24,000 new jobs and billions of dollars of community investment. Frisco Square will continue to flourish as the growth story in Frisco continues, Olympus Property executives concur.
“We believe in the fundamentals behind Frisco and the job growth trend occurring across the DFW region,” Braden Barr, senior investment officer, Olympus Property, tells GlobeSt.com. “This transaction reflects our confidence in our home state and is one of our major target markets.”
FRISCO, TX—A recent acquisition is the third apartment community to be added to Olympus Property's seventh fund, WW Olympus Property VII LLC. This fund provides a geographically diverse blend of several multifamily assets throughout the United States to provide investors stabilized cash flow over time.
Olympus Property expanded its Texas portfolio with the acquisition of Boulevard at Frisco Square. The multifamily community will undergo a name change effective immediately to Olympus Boulevard. The acquisition price was undisclosed.
“Olympus Boulevard is located in one of the strongest job growth submarkets in the United States. The deal was acquired on an attractive basis with plenty of room for upside,” said Chase Bennett, senior acquisitions manager at Olympus Property.
Completed in 2009, the 282-unit luxury mid-rise community is located along the Dallas North Tollway growth corridor, specifically within Frisco's $5 Billion Mile and north of Legacy Business Park. These two job centers include the highest concentration of suburban corporate America coupled with the strongest high wage job growth story within the country.
The property is located within Frisco Square, a master-planned live/work development funded in part by the city of Frisco. Frisco is one of the top submarkets in Dallas-Fort Worth, and is currently ranked as the second-fastest growing city in the country with a median household income of more than twice the national average at $123,055. Since 1991, Frisco has lured more than 200 companies to the area, creating and sustaining more than 24,000 new jobs and billions of dollars of community investment. Frisco Square will continue to flourish as the growth story in Frisco continues, Olympus Property executives concur.
“We believe in the fundamentals behind Frisco and the job growth trend occurring across the DFW region,” Braden Barr, senior investment officer, Olympus Property, tells GlobeSt.com. “This transaction reflects our confidence in our home state and is one of our major target markets.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
