WEST HOLLYWOOD, CA – Olympus Property announced the acquisition of Angelene Apartments, a 179-unit apartment community located in West Hollywood, California. Established in 1992 with a steadfast vision of becoming a leader in the multifamily real estate industry, Olympus Property boasts a wealth of experience and a hands-on approach throughout the investment process. The company’s portfolio represents over 27,000 units under ownership and management. Olympus Property is currently invested in fourteen states.
Angelene Apartments offers a rare generational opportunity to own a mixed-use Class A community in one of Los Angeles’ most highly coveted neighborhoods. Built in 2016, the property is located in the epicenter of the world’s entertainment capital and is within a three-minute walk of over 1.5 million square feet of restaurants, bars, and shops along Melrose Avenue. Residents have incredible access to Los Angeles’ most prominent employment centers including Hollywood/West Hollywood, Beverly Hills, Century City, Culver City, Westwood, Santa Monica, and Downtown LA. The project is anchored by 33,500 sq. ft. of ground floor retail currently occupied by Sprouts Farmers Market, one of the fastest growing national retailers.
The acquisition of Angelene Apartments is an exciting opportunity to own and operate a newer vintage asset in one of the region’s most supply constrained markets. “Angelene will be our first acquisition in the highly sought after West Hollywood market,” notes Chase Bennett, Executive Managing Director at Olympus Property. “It’s an exceptionally built property paired with strong market fundamentals, as well as an extremely limited development pipeline. This asset will continue to make value for our investors and Olympus for years to come.”
This state-of-the-art community distinguishes itself with an extensive hotel-style amenity package including a pool deck and clubhouse overlooking West Hollywood, an abundance of outdoor common areas, and a fully equipped fitness center. Apartment homes feature open living spaces and large windows with well-designed and spacious floorplans in a mix of studio, one-, two-, and three-bedroom configurations. Interiors include a curated list of high-end amenities including stainless-steel appliances, quartz countertops, modern cabinetry, 9 ft. ceilings, full-size stackable washers and dryers, and hardwood-style plank flooring.
Derrek Ostrzyzek, Tom Moran, Rachel Parsons and Mike Murphy of Berkadia Institutional Solutions completed the sale on behalf of the institutional seller. Additionally, Tucker S. Knight of Berkadia’s Houston Texas office arranged acquisition financing through Freddie Mac on behalf of Olympus Property.

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RALEIGH, NC – Legacy Capital Partners, a Cleveland, OH-based national real estate investment firm and Fulton Peak Capital, a Raleigh, NC-based multifamily investment firm, recently bought Water’s Edge Apartments, a 190-unit apartment community in Norfolk, VA.
Water’s Edge was built in 1986 and has benefited from stable, long-term ownership that managed to a high occupancy and took care of maintenance needs at the property. Legacy and Fulton will continue to improve the property with a capital budget that will modernize the interiors of the units with vinyl plank flooring, granite countertops, new fixtures, lighting and vanities, washer/dryers and stainless-steel appliances.
The exteriors and common areas will be updated to enhance appeal and the Joint Venture will be making environmentally friendly upgrades to the property, including LED lighting, smart thermostats, and new showerheads and faucets.
Norfolk is home to the nation’s largest Navy base, a major economic contributor to the region. The property is also located near one of the hospitals in the Sentara Leigh hospital system, which consistently ranks in the top 100 hospitals in the country.
“We’re very pleased to close our second acquisition with the Fulton team and expand our presence into the Hampton Roads market with a partner who currently owns multiple assets there,” said David St. Pierre, Co-Founder and Executive Director at Legacy. “In the current economic climate, we are fortunate to buy an asset like Water’s Edge and we look forward to executing our value-add plot to further enhance the community.”

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ST PETERSBURG, FL – TGM announced the mortgage refinancing for TGM Bay Isle, a 582-unit multifamily apartment community in St. Petersburg, Florida. TGM Bay Isle received Green Globes Certification enabling TGM to secure competitive borrowing terms from Fannie Mae as a result of the property’s green efficiency and sustainability. The refinancing opportunity was originated by Team Edelson at Walker & Dunlop.
TGM Bay Isle has a formidable competitive position in the diverse, growing, and strong Gateway submarket, one of the best and most desirable submarkets in the Tampa MSA, with simple commute to all the major employment centers in the MSA.
The Property, completed in two phases in 1998 and 2004, is comprised of twenty-two residential buildings on a 50-acre site. The unit mix consists of one-, two-, and three-bedroom apartment flats, as well as unusually spacious townhome units with direct access attached garages. TGM Bay Isle is at the epicenter of the metropolitan area’s 3 major employment centers, with quick access to the nearby Carillon Office Park and elsewhere in the Gateway submarket, as well as Westshore, downtown St. Petersburg, downtown Tampa, MacDill Air Force Base and Tampa International Airport.
The property also offers residents an appealing amenity package with three swimming pools, a heated spa, two state-of-the-art athletic clubs, two outdoor kitchens, a tennis/pickleball court, large dog park with agility course, pet spa, putting green, and a renovated clubhouse with a kitchen and pool table. TGM completed various renovation activities throughout its ownership, including apartment interior renovations and amenity upgrades. TGM also owns and manages a second apartment community in St. Petersburg, TGM Ibis Walk.
“The Tampa MSA is widely considered one of the most desirable and business-friendly regions in the country. Tampa’s ease of connectivity to other major metros and highly talented workforce have resulted in an established and growing economy supported by healthcare, financial services, military, tourism, manufacturing, and technology, to name a few. The region’s affordable cost of living (lowest of all major Florida markets), low tax environment with zero state income tax, brilliant year-round weather and quintessential waterfront locations are attracting people and businesses to the region at a blistering pace” said John Gochberg, Managing Principal, Chief Executive Officer, and President.

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