Olympus Property Acquires Nashville-Area Stoneridge Farms

Fort Worth-based Olympus Property has acquired a 354-unit apartment community located in Murfreesboro, Tenn.

Murfreesboro, Tenn.Olympus Property continues to expand in Tennnessee with a fourth multifamily acquisition. The Fort Worth-based company recently purchased a 354-unit garden-style community located in Murfreesboro.

Stoneridge Farms

Stoneridge Farms

The recently acquired Stoneridge Farms is a Class A community situated on more than 22 acres in the Nashville area. Located at 210 Hillwood Blvd., the property features one-, two- and three-bedroom units with sizes ranging between 842 and 1,393 square feet. Community amenities include a fitness center, business center, waterscape, clubhouse, volleyball court, swimming pool, spa and 740 parking spaces. Rents at Stoneridge Farms range between $1,030 for a one-bedroom unit and $1,335 for a three-bedroom unit, according to Yardi Matrix.

“Stoneridge Farms is a beautiful asset in one of the fastest growing cities in the United States. We are very happy to be a part of that growth,” Anthony Wonderly, co-founder of Olympus Property, said in prepared remarks.

Stoneridge Farms

Stoneridge Farms

Stoneridge Farms is the seventh property to be added to Olympus Property’s fifth fund, WW Olympus Property V LLC.  The investment structure will provide investors an opportunity to diversify among numerous multifamily assets in strong markets throughout the United States.

“We are keeping a close eye on the Nashville market. We believe the city will experience continued growth for years to come,” added Chandler Wonderly, co-founder of Olympus Property.

Images courtesy of Yardi Matrix