Olympus Property Acquires Kenwood Club in Katy, Texas

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Nov 05, 2014, 03:39 ET

KATY, Texas and SAN FRANCISCO, Nov. 5, 2014 /PRNewswire/ -- Olympus Property announces the acquisition of Kenwood Club at the Park, a Class "A" garden-style apartment community comprised of 320 units located on a beautiful 19-acre property. Built in 1999, Kenwood Club offers its residents beautiful amenities including an updated clubhouse, swimming pool with sundeck, an extensive fitness center with cardio room, a business center, and detached garages.

Olympus Property is proud to announce the acquisition of Kenwood Club at the Park located in Katy, Texas.

This acquisition further demonstrates Olympus' ability and commitment to stay in front of the strongest growth markets in the south and southeast United States. Kenwood Club is located minutes from the prime Energy Corridor, which hosts 300 companies (9 of which are Fortune 500) providing 78,000 local jobs. Current commercial development estimates conservatively predict 29,000 more jobs in the Energy Corridor by the end of 2015. The entire city has added almost 120,000 in the past twelve months. The Houston market continues to grow and Olympus Property is riding the wave towards long-term success.

Olympus Property Co-Founder, Anthony Wonderly, stated, "Olympus Property is thrilled to be entering the Katy submarket. Our company continues to expand in one of our core markets, and we are proud to continue expansion plans in our home state of Texas".

In addition to strong employment numbers, Kenwood Club is situated in Katy ISD, which has the highest percentage of exemplary schools in the entire Houston metropolitan area and ranks among the top rated schools in the state of Texas.

"We acquired this property at an extremely attractive cost basis," said Co-Founder Chandler Wonderly, who oversees acquisitions. "This is one of the strongest markets in the country, and we were extremely fortunate to make the acquisition at an excellent value."

Kenwood Club at the Park is the fifth and final property to be added to a uniquely positioned real estate investment vehicle: WW Olympus Multifamily I, LLC. The investments targeted opportunities in Class A and B garden style apartment communities with strong cash flow and appreciation upside in growth markets across the country.

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 properties across 8 states including California, Georgia, Florida, Texas, Oklahoma, Arizona, South Carolina, and Tennessee. This acquisition is a milestone for Olympus Property bringing the total number of units under ownership and management to over 8,000.

With the purchase of Kenwood, WW Olympus Multifamily I, LLC will be closing in the next month. Olympus will launch another investment vehicle before year end, with the pending purchases of three class A properties located in Florida, New Mexico, and Texas. Olympus provides investors an opportunity to realize above market returns with a geographically diversified portfolio.

To learn more about becoming involved and diversifying your portfolio with Olympus Property, please contact Braden Barr at 415-689-5855 or at [email protected].

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SOURCE Olympus Property