NASHVILLE, TN – Olympus Property announced the acquisition of The Griff, a 255-unit luxury apartment community located in the heart of Germantown, one of Nashville’s most dynamic and historic submarkets. Built in 2019, The Griff exemplifies modern urban living while providing unparalleled access to the economic and cultural vibrancy of Nashville.
Building on its strong track record in the multifamily real estate sector, Olympus Property’s acquisition of The Griff further strengthens its presence in key growth markets. This acquisition marks Olympus’ entry into the Germantown submarket, bringing its Tennessee portfolio to over 1,200 units across owned and managed properties and contributing to its Southeast region portfolio which now exceeds 7,300 units. Established in 1992, Olympus Property has grown to own and manage more than 35,000 units across 16 states, driven by a hands-on approach and a commitment to delivering exceptional living experiences. Leveraging its extensive experience and operational expertise, Olympus is well-positioned to ensure strong performance at The Griff while consistently providing value to both residents and investors.
“The acquisition of The Griff is a testament to Olympus Property’s focus on investing in high-growth markets with significant economic momentum,” notes Wade Madden, Chief Executive Officer at Olympus Property. “The property’s premier location in Germantown, coupled with its luxury amenities and proximity to transformational developments, makes it a valuable addition to our portfolio.”
Strategically located in the heart of Germantown, The Griff benefits from its proximity to redefining developments, such as the Neuhoff District, a $563 million, 900,000-square-foot mixed-use destination featuring blue-chip employers, retailers, and acclaimed dining, and Oracle’s $1.2 billion East Bank campus, which is set to bring 8,500 high-paying jobs. A plotted pedestrian bridge will connect The Griff directly to these developments, enhancing its walkability and appeal. Nashville’s pro-business environment has attracted major companies like Amazon, Oracle, and Meta, driving $8.6 billion in recent investments and another $16 billion expected in the next five years. With daily in-migration averaging 80-100 new residents, the area has become a top destination for upscale living, offering unmatched access to employment, dining, and entertainment.
The Griff seamlessly blends historic charm with modern luxury, offering studio to two-bedroom apartments ranging from 589 to 1,251 square feet. Residences include floor-to-ceiling windows, stainless steel appliances, wine refrigerators, and private balconies or patios. Community amenities feature a sky lounge with panoramic views, a fitness center with a Peloton studio, a private recording studio, a riverfront courtyard with a fire pit, a pet park, and a multi-level parking structure.

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DALLAS, TX – S2 Capital, a national vertically integrated multifamily investment manager, announced the acquisition of a distressed multifamily portfolio consisting of five properties facing foreclosure in Dallas, TX, Nashville, and Knoxville, TN.
S2 invested $60 million of rescue capital in a new joint venture with the existing Limited Partner through a structured preferred equity investment and secured a new 5-year $170 million senior loan through ACORE Capital. S2 will take over as the general partner with full operational control across property, asset, and construction management plus major choice rights to protect the preferred equity investment. The transaction was sourced off-market.
The five properties are located in markets with growing demand for multifamily housing and limited new supply:
Landmark at Gleneagles at 4909 Haverwood Lane, Dallas, TX, offers spacious 1 and 2-bedroom units, swimming pools with natural landscaping and simple access to shopping, dining, and entertainment.
Stone Ridge at 500 Piccadilly Row, Antioch, TN (a Nashville suburb) offers generously sized 1 to 3-bedroom units with patio/balcony, 2 swimming pools and sundeck.
Hickory Highlands at 100 Hickory Highlands Dr, Antioch, TN, offers 1 and 2-bedroom units, 9-foot ceilings, 3 swimming pools, and is located near Percy Priest Lake.
North Park Apartments at 5237 Tillery Rd, Knoxville, TN, offers 1 to 3-bedroom units and a park-like setting with biking and hiking trails.
The Park at Fountain City at 2132 Adair Dr, in Knoxville, TN offers 1 to 3-bedroom units and nearby walking and biking trails.
Ryan Everett, Managing Director, Head of Acquisitions of S2 Capital, said, “This transaction is a fantastic representation of how S2 is taking advantage of targeted distress in today’s market. Our vertically integrated operating platform, in tandem with our discretionary capital, positioned us as the preferred partner to step in as the new GP and programmatically address the in-place operating issues through the implementation of a new business plot.”
“This investment allows us to expand our geographic footprint to Tennessee, where we have plotted to invest in the Nashville and Knoxville markets for several years. Our internal data analytics platform projects Southeast Nashville to be a top quartile submarket for investment, given the continued year-over-year demand growth of 11% while supply and permits have plummeted by 80% to less than 2.5% of inventory, coupled with expected strong household formation and in-migration.”

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LEWISVILLE, TX – Ashcroft Capital, a fully integrated multifamily investment firm, announced the recapitalization of the Avery, a luxury garden-style community in Lewisville, Texas. The recapitalization was achieved when the previous owner—a joint venture between Ashcroft and a private equity limited partner—sold the property to a joint venture between Ashcroft and Virtus Real Estate Capital.
The Avery, which features 304 apartment homes, is one of Ashcroft’s 18 apartment communities in the Dallas/Fort Worth Metroplex. The recapitalization was one of two acquisitions that Ashcroft completed in the second half of 2024, joining the firm’s late-summer acquisition of Halston Waterleigh, a luxury garden-style community just outside of Orlando, Fla.
“We were very pleased to complete this recapitalization with an optimal partner, and it certainly was a positive transaction for all involved,” said Frank Roessler, founder and CEO of Ashcroft. “Avery is a fantastic property of ours with a strong demographic that we wish to hold in our portfolio for the long term. Being able to do right by our selling limited partner while at the same time finding a fantastic opportunity for a new LP is all we can question for. We were able to do this by operating a best-in-class property management company, having deep LP relationships with fantastic partners like Virtus and by making value through continuing our business plot and enjoying the benefits of our fixed debt.”
“We are very excited to have the opportunity to partner with such a well-positioned, vertically integrated group as Ashcroft, with economies of scale, in a market we remain bullish on,” said Josh Colter, managing director of Virtus. “While many markets have had to deal with softening fundamentals, Dallas has the highest absorption in the country, one of the most robust economies and leads the country in nominal demand. We are confident Ashcroft’s team will keep adding value to this property so the residents can continue enjoying a fantastic quality of life at Avery.”
Birchstone Residential, Ashcroft Capital’s in-house property management and construction management company, oversees the onsite operations of the Avery.
Looking ahead to the new year, Roessler anticipates increased transaction volumes for Ashcroft and for the multifamily industry as a whole. The company is currently under contract to buy three off-market apartment communities and to sell two properties in the first quarter. Overall, Ashcroft hopes to buy between five to eight apartment communities in 2025.
“We’re very optimistic about transactions picking up this year,” he said. “We don’t reckon we’ll see systemic distress, but sellers are adjusting their expectations and in some ways capitulating to a new market, while buyers and equity partners are becoming more practical in what they’re targeting. Ultimately, our hope is that 2025 is less of a banner year and more of a return to normality.”
While rent growth and occupancy rates have softened somewhat in recent years due to a wave of new apartment construction, the long-term fundamentals of the apartment sector remain strong, according to Roessler. Population growth in the Sun Belt continues, unit deliveries have slowed significantly, and new starts are few and far in between, all of which should make fantastic opportunities for Ashcroft and Birchstone, Roessler added.
“We believe that demand for apartments will remain robust over the long term,” he said. “And with our property management company and our in-house procurement department, which allows us to buy our renovation materials and renovate our communities at a significantly reduced cost, Ashcroft is uniquely positioned to capitalize on the health of the apartment industry and deliver targeted, risk-adjusted returns to our investors.”
Ashcroft’s portfolio stretches across Georgia, Florida, North Carolina, and Texas. The company also is exploring additional markets in the Sun Belt.

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