SAVANNAH, GA – Olympus Property expands their Savannah portfolio with the acquisition of Century at Fenwick Village in Savannah, Georgia. Effective immediately, the property will be renamed “Olympus Fenwick”.

Olympus Fenwick is a Class “A” apartment community completed in 2008 consisting of 448 units. The asset is situated on over 37 acres in a strategic location of the Savannah-South submarket. Property amenities include two swimming pools, a clubhouse with business center, two fitness centers, resident game room and club room, two playground areas, dog park, and cabana with barbecue grills, and two car care centers with vacuums.

“With a plotted multi-million dollar renovation, the Olympus Fenwick will be one of the finest properties in the Savannah market,” said Chase Bennett, Acquisitions Manager for Olympus Property.

The spacious floor plans include 118 one-bedroom, one-bath units, 282 two-bedroom, two-bath units, and 48 three-bedroom, two-bath units. The apartments feature high end finishes including open floor plans with 9 foot ceilings, faux-granite countertops, crown molding, walk-in closets, double-basin stainless steel sinks, garden bathtubs, breakfast bars, screened porches, and bay windows.

The proximity to a diverse range of employment opportunities is appealing to residents. The list includes Gulfstream, Mitsubishi, the Port of Savannah, multiple healthcare employers, and over 26,000 active military.

“Olympus Fenwick offers residents an attractive property and a central location only 15 minutes from downtown Savannah, a city that we have a strong affinity for,” said Chandler Wonderly, Principal of Olympus Property.

Olympus Fenwick is the fifth property to be added to Olympus Property’s sixth fund. The investment structure will provide investors an opportunity to diversify among numerous multi-family assets providing immediate cash flow in strong markets throughout the United States.

“Fund VI offers the opportunity to diversify across four states in five strong cash flowing assets,” said Braden Barr, Senior Investment Officer at Olympus Property.

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BALTIMORE, MD – State and local officials, as well as Baltimore City Mayor Stephanie Rawlings-Blake, joined Garver Development Group, Taylor Property Group and their honored guests to officially break ground on Highland Haus – a new apartment community being developed in Highlandtown near Patterson Park and Canton.

“Taylor Property Group is very pleased to be part of this high quality project, and pleased the Mayor was able to join us today. Highland Haus will complement 1212 East, our 57-unit apartment building further south in Canton,” said Ross Taylor of Taylor Property Group.

Highland Haus apartments is being constructed on what was formerly the site of Haussner’s Restaurant at 3232 Eastern Avenue. Once complete, Highland Haus will be a 6-tale building with 65 apartment homes, garage parking, and first floor retail space. The exterior of the building will be a combination of brick, stucco and metal panels, and a mosaic design mural will adorn one of the outside walls of the community.

The apartments will offer a variety of floor plans including studio, one and two bedroom options. High-end finishes will accent the interiors, such as quartz counters, brushed nickel fixtures, ceramic tile floors, and rich wood cabinetry. The community will have multiple amenity spaces including a state-of-the-art fitness center and a rooftop clubhouse with outdoor greenspace and a separate dog walking terrace. There will also be storage for bikes and a pet-washing station.

Located on the southern edge of the Highlandtown neighborhood in Baltimore City, the community is just blocks from Patterson Park, a 137 acre urban park with open fields, large trees, paved walkways, historic battle sites, a lake, playgrounds, athletic fields, a swimming pool, and other signature attractions. The community is also adjacent to Canton, a waterfront area on Baltimore’s outer harbor with eclectic shops, retail, and vibrant nightlife.

“We are thrilled to start Highland Haus, which will be catalytic for Highlandtown,” said developer Peter Z. Garver of Garver Development Group. “We’ve removed a structure that stood vacant for nearly 17 years, and are replacing it with a vibrant new building that will help energize the Eastern Avenue main street area.”

Highland Haus is scheduled for completion in late summer of 2017. Based on the extremely high interest in the community so far, Highland Haus is likely to be the area’s hottest new address.

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NEW YORK, NY – Red Stone Equity Partners, a privately-held real estate finance and investment company specializing in multifamily residential funds and financings, announced the closing of Red Stone – 2016 National Fund, a $125-million multi-investor Low Income Housing Tax Credit (“LIHTC”) investment fund.

The 2016 Fund is the sixth multi-investor LIHTC offering sponsored by Red Stone Equity to close in the last five years and includes investments from seven institutional investors. The Fund’s proceeds will be used, along with other project-level financing sources, to finance the construction and/or rehabilitation of more than 1,300 units of affordable rental housing across 16 properties located in 10 different states. All 16 underlying properties will provide high-quality affordable rental housing for low-income families, seniors or special needs tenants.

“We are pleased to announce the closing of Red Stone’s sixth multi-investor LIHTC fund, which welcomes one new investor to our family of LIHTC funds, along with six repeat investors,” said Ryan Sfreddo, Red Stone’s Managing Director of Investor Relations. “We are pleased that our investor partners continue to demonstrate confidence in our ability to organize diversified, high-quality investment vehicles to meet their investing needs, and we look forward to prudently investing the fund’s proceeds to help address the growing affordable housing crisis gripping our fantastic nation.”

With the closing of the 2016 Fund, Red Stone Equity has now raised $481 million of LIHTC equity for its LIHTC investment funds thus far in calendar year 2016. Since inception, Red Stone Equity-sponsored LIHTC funds have raised and invested more than $3.2 billion to finance the development of more than 23,000 units of affordable housing across 276 properties located in 32 different states, the District of Columbia and Puerto Rico.   

“The successful execution of our sixth multi-investor LIHTC fund in five years secures Red Stone Equity’s position as an established and consistent provider of quality multi-investor product within the tax credit industry,” states Eric McClelland, President of Red Stone Equity.

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