JACKSONVILLE, FL – Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, announce the acquisition of Reserve Bartram Springs Apartments in Jacksonville, Florida.  

Developed in 2006, Reserve Bartram Springs is a 268-unit garden-style community that offers one, two, and three-bedroom apartment homes. The newly-bought property is 96% occupied with rental rates ranging from $950 to $1,440. Reserve Bartram Springs is expected to receive enhancements to the common area amenities and upgrades to unit interiors in connection with the investment.

Fogelman bought the community through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the second Jacksonville acquisition for the Thackeray partnership in the past 120 days and grows Fogelman’s Jacksonville portfolio to more than 1,900 units. Since 2015, the Fogelman-Thackeray partnership has bought eight multifamily communities totaling more than 2,000 units, with an aggregate value of over $260 million.

“The community was a fantastic fit for our partnership as it sits directly within the path of growth in southeast Jacksonville and is located within one mile of the Pavilion at Durbin Park, a 2.4M square foot mixed-use development which is currently under construction,” says Mike Aiken, Vice President of Acquisitions for Fogelman Properties.

Fogelman Properties is one of the country’s largest and most experienced privately-owned multifamily investment and property management companies. Founded in 1963, Fogelman operates 88 multifamily communities totaling 27,000 apartment homes spread across 10 states in the Southeast, Southwest, and Midwest. 

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IRVINE, CA – Olympus Property announced the successful closing of Fusion in Irvine California, an unparalleled Class A multifamily asset in one of the most highly sought after submarkets in the United States. 

Completed in 2018 and designed by award-winning architectural firm, Withee Malcolm, Fusion offers boutique-style apartment living with luxury amenities. The 280-unit community is located on 3.628 acres in Irvine, California—a city for its exceptional quality of life and high barriers to entry.

“Given the quality of the construction, the attractive location, and difficulty of buying Class A multifamily in the Irvine market, Fusion is an asset Olympus looks forward to holding long term,” said Chandler Wonderly, Principal of Olympus Property.  

Fusion will anchor Olympus’ Opportunity Fund, composed of uniquely positioned assets offering strategic upside for our firm and our partners. Olympus’ partners are composed of high net worth individuals, family offices, and financial institutions across the country. Olympus funds allow partners direct ownership alongside the internal owners with diversified risk across multiple geographic locations. 

Founded in 1992, Olympus Property owns and manages top tier multifamily complexes across the United States. Over a 26-year history, the firm has become a successful and recognized name in the multifamily industry with over 17,000 units owned and operated across ten states.

Fusion seamlessly blends Feng Shui design with contemporary condo-quality interiors. Community amenities include a roof-top saltwater pool with an indoor/outdoor clubhouse.  The roof top amenity center also includes a spa, pool-side furnished cabanas, and a state-of-the-art fitness center.  Common areas include a Zen garden and koi pond; fire features and waterfalls; children’s play areas, skyline views; a community kitchen with commercial grade appliances and temperature controlled wine refrigerator; and contemporary seating and hammocks. 

Unit interiors include 9, 13, or 20-foot ceilings, quartz countertops, stainless steel appliances, wood-style plank flooring, tile backsplashes, gourmet kitchens, full-size stackable washer/dryer sets, private patios/ balconies, USB charging outlets, and ceiling fans.

“Irvine and Orange County as a whole, is one of the most sought-after submarkets in the United States. This is a once in a generation opportunity to buy one of the best properties in Irvine,” said Chase Bennett, Director of Acquisitions at Olympus Property.

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SCOTTSDALE, AZ – Wood Partners, a national leader in multi-family real estate development and acquisition, announced the grand opening of its new community, Alta Drinkwater, in Scottsdale, Arizona.

A premiere residential community located at 3234 N. Scottsdale Road, Alta Drinkwater is located in Ancient Town Scottsdale, a bustling neighborhood with proximity to in-demand restaurants, entertainment and retail options. Alta Drinkwater is also strategically positioned to provide quick access to downtown Phoenix and the metro area, capitalizing on the regional economic offerings of the greater Phoenix area.

“We are excited to be opening in one of the most desired cities in the Southwest,” said Todd Taylor, Managing Director for Wood Partners’ in Arizona and Nevada. “Scottsdale frequently tops the list of most livable small- to mid-sized cities making it a strategic new location for our continued expansion into the broader Phoenix market.”

Alta Drinkwater joins a list of 9 Wood Partners’ properties in Arizona as the first one located in Ancient Town Scottsdale. “We are thrilled with the early interest buzz for Alta Drinkwater,” said Taylor. “Pre-leasing efforts are underway and we’ve secured the most pre-leases of any Arizona-based community to date.”

The community is in close proximity to high-quality career opportunities, including ready access to the ASU SkySong Center, a dynamic center for innovation, technology and economic expansion, as well as high-end advantages such as the Scottsdale Corridor and Scottsdale Fashion Square, the metro area’s preferred selection of upscale retail, restaurant and night life offerings.

The new community is a unique multifamily experience. Cultural amenities such as an open lounge that serves as an art gallery by day and a VIP lounge by night elevate the 5-star resident experience. Opened in fall 2018, Alta Drinkwater totals 277 units, featuring 1- and 2-bedroom apartment homes, as well as 1-, 2-, and 3-bedroom penthouse apartment homes. Penthouse units include private patios with expansive views of the city, and luxe finishes throughout amenity and livable areas.

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