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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SARASOTA, FL – Greystar announced the grand opening of Elan Rosemary, a new luxury apartment community, in Sarasota, FL. The development includes 286 units and is centrally located at 710 N Lemon Avenue at the corner of Boulevard of Arts and Lemon Avenue in the Rosemary District. The new community is minutes away from Downtown Sarasota’s Main Street, St. Armands Circle and Lido Beach.

The grand opening event will be held at the community clubhouse on November 8, 2019. The celebration will include an open house with refreshments, local cuisine, tours of the community and giveaways.

“We are thrilled to offer a new living option in downtown Sarasota,” said Lewis Stoneburner, Managing Director of Development for Greystar. “Elan Rosemary offers fantastic amenities and contemporary apartment homes close to spectacular white-sand beaches, local restaurants, shopping destinations and nearby employers.”

Elan Rosemary includes a variety of studios, one and two-bedroom apartment homes, with den option, that range in size from 550 to 1,811 square feet. Interior finishes include stainless steel appliances, French-door refrigerators, quartz countertops, modern cabinetry, tile backsplashes and wood-style flooring in main living areas. Residences include open floor plans, spa inspired master bathrooms, full size washers and dryers, balconies or patios in select apartment homes.

The community clubhouse is designed with a variety of social spaces, a chef kitchen and conference rooms. The fitness center has floor-to-ceiling windows and includes the latest cardio and strength training equipment, a yoga studio and on-demand fitness classes. Residents can delight in billiards, shuffleboard, a resort-style swimming pool with sundeck, lounge seating, outdoor kitchen, grilling stations and dining areas. The pet friendly community includes a dog park with agility course, parcel locker system and professional on-site management and maintenance team.

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WENTZVILLE, MO – CAPREIT, a fully-integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, announced it has bought Peine Lakes and O’Fallon Lakes, two affordable communities in suburban St. Louis. 

CAPREIT previously had taken over the management responsibilities of the tax-credit communities and assumed ownership in October. Peine Lakes, in Wentzville, Mo., features 256 apartments homes and O’Fallon Lakes, in nearby O’Fallon, Mo., includes 266. The communities are situated in quick-growing, well-educated St. Charles County. 

“We’ve loved overseeing the management responsibilities at these communities, and we’re delighted to officially add them to our portfolio,” said Stephen Catarinella, vice president of acquisitions and business development for CAPREIT. “The northwest side of the St. Louis metropolitan area is becoming increasingly well loved, and the demand for quality affordable housing is following suit. We’re keen to take care of the local community by offering a high-quality, cost-effective living experience.”

Peine Lakes is about 45 miles northwest of Downtown St. Louis and O’Fallon Lakes 34 miles in the same direction along Interstate 70. Each community also features prime access to US-61, a primary north-south thoroughfare that stretches from Minnesota to New Orleans. The primary employment sectors in St. Charles County, which boasts a low 3 percent unemployment rate, are manufacturing, education, health services, leisure and hospitality. 

Located at 2010 Peine Road, Peine Lakes includes 205 affordable and 51 market-rate apartment homes. Wentzville is home to a General Motors assembly plant that includes about 3,300 employees, and is on pace to be Missouri’s fastest-growing city for a second consecutive decade. 

O’Fallon Lakes is a garden-style community situated at 9300 O’Fallon Lakes Drive, less than 10 miles from the largest employer in the submarket, CitiMortgage. O’Fallon is also home to the operations center of MasterCard Worldwide and Right Manufacturing, which specializes in refrigerator products. Combined, the three companies contribute about 9,000 employees to the local workforce. 

Each community consists of 1-, 2- and 3-bedroom apartment homes ranging from 802 to 1,157 square feet. Apartment interiors at the pet-friendly communities include walk-in closets, full-size washer and dryer hookups, vaulted ceilings, abundant cabinet space and private patios or balconies with extra storage. 

Common-area amenities at Peine Lakes include an expansive clubhouse, pool with sundeck and a large business center with a separate study room and conference room. Community amenities at O’Fallon Lakes include a fitness center, outdoor pool, clubhouse, athletic courts, technology room, playground and after-school learning center. Garage space is also available.

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