JACKSONVILLE, FL – Olympus Property, a leading real estate investment and property management company, has completed the acquisition of Presidium Town Center, a best-in-class 370-unit multifamily property located in Jacksonville, FL. Developed in 2021, this Class A community offers one of the highest-quality living experiences in the heart of the Deerwood Park submarket.
With over a decade of experience owning and managing properties in the region, including more than seven assets comprising 2,500 units, Olympus Property continues to solidify its position as a multifamily leader in the Jacksonville market with the acquisition of Presidium Town Center. Leveraging its deep local knowledge and expertise, Olympus is well-positioned to drive strong operational performance at Presidium Town Center. As a prominent player in the multifamily real estate industry, Olympus Property remains committed to providing residents with exceptional living experiences and delivering strong returns to investors. With extensive experience and a hands-on approach, Olympus currently owns and manages over 31,400 units across 14 states.
Nestled in the vibrant Southside submarket, renowned as one of Jacksonville’s most coveted neighborhoods, Presidium Town Center offers residents convenient access to a wealth of amenities. The area stands as Jacksonville’s premier live/work/play environment, boasting a central location and access to over 7.8 million square feet of retail space. Positioned at the heart of Deerwood Office Park, the region’s largest employment hub, Presidium Town Center provides residents with unrivaled proximity to over 70,000 jobs, as well as esteemed institutions like the University of North Florida and St. Vincent’s Medical Center. Jacksonvillemaintains its status as a thriving migration hub, consistently outpacing national growth for the past two decades. The city’s population growth over the last 12 months positions it among the fastest-growing in the United States. This upward trajectory seems likely to continue, as Jacksonville recently earned the distinction of being ranked the third hottest job market in the nation by The Wall Street Journal.
“We welcome the addition of Presidium Town Center to our growing portfolio,” comments Wade Madden, Chief Operating Officer at Olympus Property. “This acquisition aligns with our commitment to offering residents exceptional living experiences in prime locations. The unmatched access to employment centers, transportation, and entertainment make Presidium Town Center an ideal choice for individuals seeking a thriving community that combines convenience and quality living.”
Presidium Town Center offers premier in-unit and community amenities in the Jacksonville market. Built in 2021, the community features contemporary design elements and high-quality finishes, such as expansive floor plot designs, smart home technology, plank wood-style flooring, stainless steel energy-efficient appliances, quartz countertops, modern tile backsplashes, and full-size washer and dryers. Residents can delight in impressive community amenities, including a zero-edge pool, rooftop lounging deck with a fireplace, ultramodern fitness center, and indoor and outdoor fireplaces.

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TAMPA, FL – Trilogy Real Estate Group, a Chicago-based real estate investment and property management firm, announced the acquisition of Azalea Apartments, a 289-unit multifamily community that is currently under construction in the East Tampa neighborhood of Brandon, for $85.8 million. Azalea will join Trilogy’s growing portfolio of investments located in qualified opportunity zones.
Investments in qualified opportunity zones benefit from the provisions of the 2017 Tax Cuts and Jobs Act that allow the taxes on capital gains realized from the sale of nearly any asset, such as stocks, bonds, businesses, real estate, and K-1 partnerships to be deferred by investing the gains in designated opportunity zones. The most significant benefit of the program is the permanent elimination of taxes on capital gains realized from the sale or exchange of an investment in a qualified opportunity zone fund that has been held for a minimum of 10 years.
“We are the beneficiaries of three years of development work that ZOM Living completed,” said Trilogy chief investment officer Jesse Karasik. “Opportunity zone developments typically take multiple years to bring online and become cash flowing assets, and we are thrilled to have been positioned to buy this high-quality property in a booming market near its completion.”
Azalea is located at 8240 Causeway Boulevard, minutes from Tampa’s urban core and in one of the fastest-growing counties in the country. The first go-ins at the property are expected to start this quarter, and residents will be able to choose from one-, two-, and three-bedroom layouts ranging from 700 to 1,400 square feet. ZOM Living sold Azalea to Trilogy and will manage its construction through completion.
Each apartment home at Azalea features energy-efficient, stainless steel Whirlpool appliances, quartz countertops, contemporary cabinets with upgraded hardware and soft-close drawers, and hurricane impact windows. Luxury living extends throughout the community with a resort-style pool deck with cabanas, and a relaxation area with hammocks and fire pit. There’s also a fitness center with a spinning studio and an outdoor yoga lawn, multi-use event lawn, pool pavilion, and gaming area with a pool table and corn hole. The pet-friendly community will also offer an oak tree-shaded, fenced dog park and pet salon.
“We continue to focus on delivering cycle-resistant investor returns, which today’s market environment provides for via attractive multifamily investment opportunities,” said Matt Leiter, chief financial officer. “While all of our investments are selected based on their viability independent of any potential tax benefits, the qualified opportunity zone program can provide a meaningful enhancement to investor returns.”

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SAN FRANCISCO, CA – BRIDGE Housing, a leading nonprofit developer, owner, and manager of affordable housing for 40 years, has expanded its efforts to address increasingly unaffordable rents in the Bay Area with the acquisition of a multifamily housing community in Daly City. This is the third acquisition of a mixed-income community by BRIDGE in San Mateo County.
BRIDGE bought the 195-unit Eaves Daly City complex from AvalonBay Communities and will preserve at least half of the units in perpetuity for residents earning up to 80% of the Area Median Income. Currently, the units have no income restrictions. This workforce housing typically serves teachers, police officers, healthcare workers, and others who earn too much to qualify for subsidized housing but often cannot afford to live close to their jobs in major metropolitan areas.
The housing crisis demands urgent action, and this latest deal demonstrates our commitment to ensuring predictable, affordable rents and quality housing for working families in one of the country s most expensive markets, said Ken Lombard, BRIDGE President and CEO. It also reflects our choice to accelerate acquisitions to preserve existing workforce housing while continuing our traditional role developing new affordable units for low- and middle-income families. We are grateful to Morgan Stanley and NEF for their partnership.
Morgan Stanley and National Equity Fund (NEF) provided financing as part of an innovative partnership forged last year by BRIDGE Housing CEO Ken Lombard. BRIDGE secured a $250 million funding arrangement to facilitate expansion into acquisitions of multifamily properties. The financing from Morgan Stanley and NEF also enabled BRIDGE s acquisition of two adjacent properties – Terra Linda Manor and Northview – with 125 workforce housing units last year in the Marin County community of San Rafael.
We are proud to work with partners like BRIDGE Housing and Morgan Stanley who share our belief that preserving affordable housing is just as vital as making new homes, especially in markets like San Francisco where the cost of housing continues to rise, said Matt Reilein, president and CEO of National Equity Fund. Through our collective efforts, we are working to make long-term rental affordability more accessible for individuals and families in Eaves Daly City.
BRIDGE will soon start an extensive, multi-year investment of approximately $23 million to improve the apartments and community facilities at Eaves Daly City. Built in 1972, the property includes 11 two- and three-tale buildings on a site encompassing 8.2 acres.
The property consists of studio, one-bedroom, and two-bedroom units with fully equipped kitchens, as well as a pool, fitness center, and spa open to all residents. BRIDGE will assume management of the property from AvalonBay after an eight-month transition period.
Since 1983, BRIDGE has been an innovative leader in affordable housing along the West Coast by making strong communities, improving residents lives, and delivering strong financial returns along with positive social impact. BRIDGE has participated in the development of more than 21,000 affordable units, with a total development cost of $5.2 billion; currently has a portfolio of 13,000 apartments that are home to 30,000 people; and has more than 8,000 units in its development pipeline across California, Oregon, and Washington.
We have a decades-long track record of working with officials at all levels of government, fellow nonprofits, private developers, and financial institutions to strengthen communities through safe, stable and affordable housing, Lombard said. When affordable housing is needed more than ever, BRIDGE has the strategic vision and financial agility to respond quickly to make lasting solutions to this urgent crisis.

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