Olympus Property and Artemis Real Estate Partners Acquire Legends at Ridgeview Ranch

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Nov 05, 2014, 04:01 ET

PLANO, Texas and SAN FRANCISCO, Nov. 5, 2014 /PRNewswire/ -- Olympus Property and Artemis Real Estate Partners are proud to announce a third joint venture with the acquisition of Legends at Ridgeview Ranch.

Legends at Ridgeview Ranch is a Class "A" garden-style apartment community comprised of 480 units situated on almost 34 acres. Built in 1999, Legends at Ridgeview Ranch offers resort-style amenities that include a clubhouse, two swimming pools, golf course views, a fitness center, a business center, basketball court, and direct access garages.

Located in Plano, Texas, Legends at Ridgeview Ranch is a Class "A" 480-unit garden style apartment community constructed in 1999. The property is situated on about 34 acres along the Ridgeview Ranch Golf Course and offers residents quality construction, 80% direct access garages, well-appointed interiors, and excellent access to employment and retail in the North Plano submarket. The property is just minutes from the nationally acclaimed Legacy Business Park, which includes 15 million square feet of corporate and regional headquarters and is one of DFW's largest master planned business, retail, and residential developments.

The Joint Venture plans to spend about $2 million to complete an ongoing interior renovation plan, and to enhance the common areas. The property will be managed by Olympus Property, which will be responsible for day-to-day operations, marketing, and leasing of the asset.

About: Olympus Property

Olympus Property, founded in 1992, is a fully integrated real estate investment firm, which is focused on the acquisition, management and timely disposition of high quality multi-family communities. Over its 22-year history, the company has become a successful and recognized name in the multifamily industry with roughly 8,000 units across 8 states including California, Georgia, Florida, Texas, Oklahoma, Arizona, South Carolina, and Tennessee.

Olympus' Co-founder, Chandler Wonderly states, "We are incredibly excited to be joining forces with Artemis within their enhanced core program. This is a huge milestone for Olympus Property and our continued long-term growth plan. Legends at Ridgeview Ranch is a solid property to start our partnership."

About: Artemis Real Estate Partners

Artemis Real Estate Partners is a real estate investment management firm that invests with best-in-class local operating partners, both established and emerging, in multifamily, office, industrial, retail and senior housing across opportunistic, value added and enhanced core strategies. Artemis has raised over $1.8 billion of investor capital across two commingled value-add/opportunistic fund vehicles and an enhanced core emerging manager separate account with The New York State Common Retirement Fund. Artemis's sole focus is U.S. commercial real estate. More information about Artemis may be found at www.artemisrep.com.

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Contact: Braden Barr, 415-689-5855, [email protected]

SOURCE Olympus Property