Olympus Property Launches 8th Fund

The firm added 869 units to its portfolio with the purchase of Olympus Steelyard in Chandler, Ariz.; Sundance Creek in Midland, Texas; and Sedona Ranch in Odessa, Texas.
Olympus Steelyard, Chandler, Ariz.

Olympus Property has launched its eighth fund with the acquisition of three multifamily communities: Alta Steelyard in Chandler, Ariz.; Sundance Creek in Midland, Texas; and Sedona Ranch in Odessa, Texas. These properties add 869 units to the company’s portfolio.

Located at 155 East Frye Road, the 301-unit Alta Steelyard—now rebranded as Olympus Steelyard—was constructed in 2016 and currently has a 91.7 percent occupancy as of March 2018, according to Yardi Matrix. The community offers one-, two- and three-bedroom floorplans ranging from 640 to 1,726 square feet across five three-story buildings. Interior features include granite countertops, stainless steel appliances, wood plank vinyl flooring, nine- to 14-foot ceilings, Energy Star certified windows, porcelain backsplash, walk-in closets, built-in shelving and electronic entry locks. Community amenities include:

  • 24-hour fitness center
  • pool with cabanas
  • heated spa
  • outdoor dining
  • yoga and spin room
  • rooftop lounge
  • cyber cafe
  • clubhouse
  • demonstration kitchen
  • dog wash station
  • gas grills

The property is located within five to 10 minutes from Uptown Chandler, West Chandler, the Price Corridor and Chandler Airpark. Shops, nightlife and restaurants are walking distance from Olympus Steelyard.

Texas Additions

Sundance Creek, Midland, Texas

The 300-unit Sundance Creek is situated at 3700 Edwards St. Comprising one- and two-bedroom floorplans, units range from 654 to 1,260 square feet across 13 three-story buildings. At an occupancy of 98.3 percent as of March 2018, according to Yardi Matrix, the pet-friendly apartments feature brushed nickel hardware, ceiling fans, custom cabinetry, full-size washer/dryer, garden-style bath tubs, granite countertops, kitchen islands, nine-foot ceilings, walk-in closets, pantries, private patios, wood and ceramic tile flooring and stainless steel appliances. Residents have access to amenities such as:

  • business center
  • outdoor fireplace with TVs
  • resident entertainment room
  • outdoor kitchen with gas grill
  • billiards table
  • resort-style swimming pool with cabanas
  • tanning beds
  • fitness center

Lastly, Sedona Ranch offers 268 one- and two-bedroom apartments across its 11 three-story buildings. Located at 8001 Brownstone Road, the property is currently at 97.4 percent occupied, according to Yardi Matrix. Apartments include extra storage space, full-size washer/dryer, granite countertops, kitchen islands, pantries, private balcony/patios, simulated wood flooring, stainless steel appliances and walk-in closets. The pet-friendly Sedona Ranch offers access to:

  • business center
  • outdoor fireplace
  • fitness facility
  • outdoor kitchen with gas grill
  • swimming pool with cabanas
  • resident entertainment room
  • tanning beds

Sundance Creek and Sedona Ranch are located in the Midland/Odessa metroplex where the majority of U.S.-based oil companies operate. Nearby major employers include Chevron, Pioneer, American Legion, Blue Cross Blue Shield, Exxon Mobile, Apache and ConocoPhillips.

Images courtesy of Yardi Matrix