ALLEIA ACQUISITION EXPANDS OLYMPUS PROPERTY'S PRESENCE IN AFFLUENT POOLER SUBMARKET

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Sep 28, 2023, 10:00 ET

FORT WORTH, Texas, Sept. 28, 2023 /PRNewswire/ -- Olympus Property, a renowned real estate investment and property management company, proudly announces the successful acquisition of Alleia, a 328-unit community nestled in the heart of Savannah, GA. Built in 2021, this newly developed property is strategically located in the highly sought-after Pooler submarket, making it a valuable addition to Olympus Property's expanding portfolio.

Olympus Property Acquires Alleia in Savannah, GA

Olympus Property currently oversees a portfolio of approximately 31,000 units across various markets. This acquisition further strengthens the company's presence in the Savannah metropolitan statistical area (MSA) and aligns with Olympus Property's commitment to providing residents with high-quality living experiences in attractive submarkets.

"Alleia represents an exciting addition to our multifamily portfolio in Savannah," says Chase Bennett, Olympus Property's Executive Managing Director. "Our long-standing presence in this market and our knowledge of its fundamentals uniquely position us to enhance the management and performance of Alleia."

Nestled near the junction of Jimmy DeLoach Parkway and Interstate 95, Alleia residents have immediate access to a thriving employment hub, offering over 71,000 jobs within a 10-mile radius. The area is undergoing rapid expansion, fueled in part by significant developments such as the construction of Hyundai's $6.4 billion electric vehicle and battery plant. Hyundai's expansion, located only 25 minutes from the Property, is expected to generate over 25,000 jobs and will further fuel the region's growth. In addition to Hyundai's investment, Gulfstream, Savannah's current largest employer, recently announced a $150 million investment and the creation of 1,600 new jobs.

Alleia has set the standard for excellence in the Pooler submarket with top-of-the-line amenities including a pool with cabanas, covered outdoor lounge, grilling stations, and fully equipped fitness center and game room. Alleia's floor plans feature spacious layouts ranging from 642 sq. ft. to 2,178 sq. ft., including 16 two- and three-bedroom townhomes. Units feature contemporary finishes and fixtures including screened-in porches, Nest thermostats, security systems, granite countertops, wood-style flooring, walk-in showers, spacious walk-in closets, and stainless-steel appliances.

About Olympus Property:

Established in 1992, Olympus Property is a highly experienced full-service multifamily owner and operator headquartered in Fort Worth, Texas. The company's portfolio is currently valued at over $7 billion and represents approximately 31,000 units under ownership, development, and management. Olympus is consistently focused on high-growth markets with strong population and employment trends, while adding value across the portfolio. The company is currently invested in fourteen states including Arizona, California, Colorado, Florida, Georgia, Idaho, Montana, New Mexico, North Carolina, Tennessee, Texas, Utah, Wyoming, and Kentucky.