Olympus Property Acquires North Carolina Community
The property previously traded in 2021 for $28 million.
Olympus Property has acquired King’s Quarter at Jack Britt, a 252-unit multifamily community in Fayetteville, N.C. Yardi Matrix data shows that the asset last traded in 2021, when Valor Residential Group purchased it for $28 million, backed by a $19 million loan from Wilmington Trust Bank. The property will be rebranded as Olympus at Jack Britt.
Completed in 2014, the garden-style community comprises 12 buildings with two- and three-bedroom floorplans, ranging from 1,150 to 1,398 square feet. Apartments feature walk-in closets, 9-foot ceilings, private balconies or patios, stainless-steel appliances and granite countertops. Common-area amenities include a swimming pool, dog park, car wash station, storage, playground and grilling area.
Located at 3831 Queen Anne Loop, the 17-acre site is situated off Camden Road and 10 miles from downtown Fayetteville, while Fayetteville Regional Airport is roughly 8 miles away. Residents have access to large employers throughout the region, such as VA Healthcare centers, as well as an Amazon fulfillment center slated to open later this year some 15 miles from the property.
Olympus at Jack Britt represents the company’s third acquisition in metro Fayetteville. Last year, Olympus paid $42 million for a community in the suburb of Raeford, N.C. Most recently, the firm entered the West Hollywood market with the $125 million purchase of a luxury asset.