Olen Properties closes $567m multifamily deal
Olen Properties has acquired an 11-property multifamily portfolio for $567 million. The apartment assets are located in Florida, Georgia and Nevada.
The garden-style community portfolio is comprised of seven properties in the Las Vegas MSA, three properties in South Florida, and one property in the Atlanta MSA. It totals 3,300 units.
The Las Vegas–area properties include Hidden Cove, 212 units; Canyon Villas, 256 units; Durango Canyon, 544 units; Falling Water, 288 units; Red Rock Villas, 192 units; and Arroyo Grande, a 232-unit community, and Horizon Ridge, a 200-unit community, both located in Henderson, Nev. The Florida properties include Club Lake Pointe, 240 units in Coral Springs, Fla.; Sanctuary Cove, 420 units in North Palm Beach, Fla.; and Weston Place, 372 units in Weston, Fla.
