INDIANAPOLIS, IN – Block Funds, a real estate equity firm, and Block Multifamily Group (BMG), a national multifamily management services company, recently closed on the acquisition of The Park at Eagle Creek, a 240-unit multifamily community located in Indianapolis, Indiana.

The Park at Eagle Creek was built in 1998 and is located in the thriving west side of Indianapolis and is within walking distance of Eagle Creek Park. The complex boasts large units, perfectly landscaped wooded grounds, high-end unit features and unique amenities including a resort-style pool area not found elsewhere on the west side of Indianapolis.

“With its close proximity to Eagle Creek Reservoir, which provides a package of amenities like biking, golf and water activities for our residents and the convenient access to I-465, The Park at Eagle Creek is a positive addition to the Block Multifamily Group portfolio,” said Bill Larson, CPM, President Block Multifamily Group.

Block Funds is a leading real estate private equity firm with more than $1 billion in commercial property under management. Block Funds allows accredited investors seeking income, capital preservation and appreciation an opportunity to earn high, stable cash yields and competitive risk-adjusted returns with low correlations to other asset classes through investment in institutional quality commercial real estate. The Block Funds team has a combined 200 years of commercial real estate experience and has been involved in over $2.5 billion in real estate transactions. Block Funds investment professionals manage four private equity funds and hundreds of syndicated partnerships, leveraging Block Real Estate Services’ national network of relationships to source exclusive transactions with exceptional returns.

Block Multifamily Group (BMG) provides multifamily management services in a wide geographic area. BMG currently manages 7,121 units in development and under asset management. BMG’s de- centralized management, coupled with a centralized financial center, enables staff to provide proactive property management services in a timely manner. Covering conventionally-financed multifamily assets as well as HUD-insured and Low Income Housing Tax Credit (LIHTC) properties, BMG is able to provide services for a wide client base.

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HOUSTON, TX – Novel Creative Development, LLC, developer of The Ivy Lofts, announced the collaboration between AT&T Digital Life and Daikin, the world’s leading air conditioning company, to make the United States’ first fully automated building built from the ground up. This latest relationship brings even more ultra-modern conveniences to the first micro-condominium development in Texas, which also is the largest of its kind in the nation.

“Our innovative micro-dwelling concept has attracted the best companies in the world to participate in this ground-breaking development,” said Jason Franklin, Sales Director for The Ivy Lofts. Daikin and AT&T will work together to digitize the ductless air systems allowing residents to operate the air conditioning units from a smart phone or tablet via AT&T Digital Life. “The Ivy Lofts, and our priority to provide cutting-edge amenities to our residents, sparked this collaboration and as a result Daikin has now incorporated Bluetooth compatibility into its products.”

The Ivy Lofts has also partnered with Zipcar and will designate approximately eight parking spots for the drive-as-you-need-them vehicles. The developer has also reached an agreement with IKEA to provide comfortable, multifunctional furniture specifically designed for the micro-condominium lifestyle.

Rising 24 tales, The Ivy Lofts’ 500-plus micro-condominium units feature streamlined, savvy living spaces for a simplified urban lifestyle with a sleek, sophisticated aesthetic. Modern interiors include transformable furniture, sliding walls, all-in-one washers and dryers, and LED lighting. Hardwood floors, granite countertops and stainless steel appliances complete the contemporary effect. Units range in size from approximately 350 square feet to over 1,000 square feet, with prices starting in the low $100s.

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MURFREESBORO, TN – Olympus Property continues to expand in 2016 with the acquisition of Stoneridge Farms at Hillwood in Murfreesboro, Tennnessee. This is the fourth asset bought by Olympus Property in Tennessee and third asset in the Nashville market.

Built in 2010, Stoneridge Farms is a Class “A” garden-style community comprised of 354 units situated on over 22 acres. The property offers residents upscale amenities, high quality construction, and a highly desirable location. The lavish amenities include a resort-style swimming pool, a heated spa, fitness center, volleyball court, outdoor gourmet kitchen, and attached and detached garages.

“Stoneridge Farms is a gorgeous asset in one of the fastest growing cities in the United States. We are very pleased to be a part of that growth,” said Anthony Wonderly, co-founder of Olympus Property.

Unit amenities include crown molding, ceiling fans, spacious walk-in closets, black appliances, smooth surface cooktops, kitchen pantry, full-size washers and dryers, private balconies. Additionally, selected units feature vaulted ceilings, jetted garden tubs, separate showers and fireplaces.  

Stoneridge is located in Murfreesboro, a Nashville submarket growing at over five times the national average. Driving this growth is the creation of new jobs by major employers in the area, which include Middle Tennessee State University, Middle Tennessee Medical Center, Nissan, Amazon, and a Verizon call center. In addition, Stoneridge is within the Blackman ISD, known as the most prestigious school district in the Nashville/Murfreesboro submarket.

“We are keeping a close eye on the Nashville market. We believe the city will experience continued growth for years to come,” said Chandler Wonderly, co-founder of Olympus Property.

Stoneridge Farms is the seventh property to be added to Olympus Property’s fifth fund, WW Olympus Property V, LLC.  The investment structure will provide investors an opportunity to diversify among numerous multi-family assets in strong markets throughout the United States. The opportunity is available immediately for new investors and offers an attractive return with an experienced owner/operator. 

Olympus Property, founded in 1992, is a fully integrated real estate investment firm based in Fort Worth, Texas. Over its 23-year history, the company has become a successful and recognized name in the multi-family industry.  Olympus currently owns and manages 12,000 units across 8 states including Texas, Florida, Oklahoma, Arizona, Tennessee, Georgia, New Mexico, and California.  

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