SAN DIEGO, CA – Olympus Property announced the acquisition of The Residences at Escaya, a 272-unit luxury Class A property in Chula Vista, California, 15 miles from Downtown San Diego. The Residences at Escaya is situated in Chula Vista’s rapidly growing Otay Ranch neighborhood, the best-selling 450-acre master plotted community in San Diego.
The property is located in one of the fastest growing cities in California surrounded by high-quality employment opportunities and exceptional retail and recreational amenities. Given its central San Diego location and exceptional freeway access, the property has outstanding connectivity to many of San Diego’s key job centers including Downtown, Kearny Mesa, Mission Valley, and UTC. These employment hubs offer a large concentration of job opportunities in high-paying industries including cleantech, life sciences, aerospace/defense, and healthcare.
The Residences at Escaya will be an brilliant addition to Olympus’ growing portfolio, an experienced operator in California since 1992. “We feel fortunate to have been selected as the buyer of this top-of-the-market newly built asset,” notes Chandler Wonderly, Principal of Olympus Property. “We look forward to long-term ownership and continued expansion in the market.”
The Residences at Escaya is one of San Diego’s most sought-after residential communities and recently won the highly coveted Pillars of the Industry award for the nation’s “Best Garden Apartment Community” by NAHB.
Built in 2019, The Residences at Escaya is a low-density community-centric luxury development. The property offers residents private garage and carport parking and a thoughtfully curated list of amenities including a 30,000 sq. ft. walkable retail village, a resort-style swimming pool, state-of-the-art fitness center, expansive clubhouse, and outdoor lounge BBQ area. The property features well-designed spacious floor plans ranging from 784 Sq. Ft. to 1,560 Sq. Ft. and best-in-class finishes including quartz countertops, stainless steel appliances, full-height tile backsplashes, wood-style plank flooring, in-unit washers/dryers, and ocean views from select units.

Powered by WPeMatico

LOS ANGELES, CA – Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of The Vermont, a high-rise multifamily community in Los Angeles’ Koreatown submarket. Image Capital, LLC, partnered with HGI on the transaction. The acquisition adds to HGI’s growing footprint in Southern California, following the acquisition of three multifamily communities in Long Beach in July 2022 and marking its tenth investment in the region.
Built in 2014, The Vermont comprises 464 apartment units across two high-rise towers perched above 31,000 square feet of retail space. The two towers are connected by a 7th floor sky lobby that features a library lounge, a club lounge, and a fitness center. The community also includes a six-level parking structure with separate entrances for residents and retail guests.
The Vermont features several defining characteristics and amenities that differentiate it from other apartment complexes in the neighborhood. In addition to the sky lobby, the community’s 7th floor offers nearly 27,500 square feet of outdoor space, including a resort-style pool and spa, yoga garden, dog parks, and multiple dining and entertaining areas. Interior units feature floor-to-ceiling windows that provide expansive views of the Hollywood sign, Downtown LA, and the Griffith Observatory.
HGI plans to implement a $22.3 million capital improvement plot to enhance the community, renovating common areas, interior hallways and upgrading select units. HGI’s investment activity on the West Coast has now exceeded $1 billion in the past twelve months.
“The Vermont offers the central location and expansive amenities today’s residents seek when choosing a home,” said Greg Heller, Managing Director, HGI. “Through this acquisition and investment, we see a significant value-add opportunity, positioning the community to better compete with newer, Class A properties in the neighborhood.”
The parties in the transaction were represented by Cushman & Wakefield., Inc. Marc Renard, Executive Vice Chair of the firm’s Capital Markets Group who led the team stated “The Vermont received interest from around the globe by investors that recognized the compelling cost basis versus new construction, the prospects for accretive additional property upgrades and the strong support for above national average rent growth driven by the numerous ‘knowledge’ based employment centers that surround the asset.”
Located at one of Los Angeles’ busiest intersections, the community offers convenient access to various destinations throughout the city. The LA Metro Rail’s Wilshire/Vermont subway station is directly across the street from The Vermont and easily connects residents to employers in nearby Downtown LA. Plotted expansions to the Metro Rail will soon connect residents to other job centers throughout the city, including Century City, Beverly Hills and Westwood.

Powered by WPeMatico

DES MOINES, IA – Indianapolis, Indiana-based multifamily syndication company BAM Capital is announced its recent acquisition for the BAM Multifamily Growth & Income Fund III: Autumn Ridge.
Autumn Ridge is a 434-unit institutional quality, garden-style apartment community that was developed in 2017 and 2019. It is located in Waukee, Iowa, one of the fastest-growing suburbs of Des Moines, Iowa.
The value-add potential both in utilizing our economies of scale in Des Moines and bringing rents in line with the competition in the area more than exceeds BAM Capital’s strict acquisition criteria, says Tony Landa, Chief Investment Officer.
Des Moines is an emerging market similar to Indianapolis a few years ago, says Ivan Barratt, Founder & CEO. Autumn Ridge will be BAM Capital’s fourth multifamily asset in the Des Moines, Iowa MSA.
Autumn Ridge features a diverse set of floor plans, a comprehensive amenity package, two swimming pools, and strong in-place cash flow. With many well-known and stable employers in the area including Microsoft, MercyOne, Wells Fargo, and more, BAM Capital is confident that it can deliver a targeted 15-20% IRR return on investments for its investors.
As part of the vertically integrated The BAM Companies (BAM Capital, BAM Management, BAM Construction), BAM Capital has over 100 years of experience among Executive level staff. With over $700MM assets under management, over $152.5MM in distributions to investors, and 900+ investors across 40+ states, BAM Capital is a proven sponsor with a solid track record.
Autumn Ridge will join Hamilton Station, The Bristol, and Autumn Ridge as part of BAM Multifamily Growth & Income Fund III. Hamilton Station and The Bristol are both also located in the Indianapolis, Indiana, metropolitan statistical area. Autumn Ridge is located in Des Moines, Iowa.

Powered by WPeMatico