Olympus Property Acquires Stovall and Mirador At River City in Jacksonville, Florida

News provided by

Nov 05, 2014, 03:55 ET

SAN FRANCISCO and JACKSONVILLE, Fla., Nov. 5, 2014 /PRNewswire/ -- Olympus Property is proud to announce the acquisition of two assets: Stovall and Mirador at River City adding two highly desirable Class "A" assets to their Jacksonville, Florida portfolio.

Built in 2008, these two garden-style sister living communities offer residents resort-style amenities at two of the most upscale living communities in the Jacksonville area. Each property is comprised of 276 units and situated on 15 acres of some the most prime real estate in the Jacksonville market.

Mirador at River City is a Class "A" garden-style apartment community comprised of 276 units situated on over 17 acres. Built in 2007, Mirador at River City offers resort-style amenities, including a clubhouse, spa, swimming pool with outdoor grilling, 24-hour fitness center, business center, billiard room, tennis court, basketball court, bark park, playground, detached and attached garages.

Situated two miles east of Jacksonville International Airport and adjacent to Route 95, Mirador and Stovall are positioned in one of the fastest growing areas of Jacksonville. In addition, the River City Marketplace, the only outdoor shopping mall north of the St. Johns River, is within walking distance. Major anchor stores including Walmart, Lowes and Gander Mountain are a few minutes away.

Driving future job growth, the Florida Agency of Health Care Administration has signed off on the construction of an inpatient hospital next door. The 92-bed hospital tower, targeted to open in 2017, will benefit the property by adding numerous more high paying jobs, driving rent demand, and increasing traffic and development in the area.

Stovall at River City is the first property to be added to Olympus Property's fourth fund, WW Olympus Property IV, LLC. The structure will offer investors an opportunity to diversify among five to six Class "A" and "B" assets in strong fundamental markets throughout the south and southeast United States. The opportunity is available for new investors immediately and offers an attractive return with an experienced owner/operator.

Olympus' Co-founder, Chandler Wonderly states, "Stovall and Mirador are perfect representations of Olympus Property's long term vision: purchase quality assets at attractive valuations in strong growth markets. We are thrilled to be adding these two communities to the Olympus family."

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.

Please contact Braden Barr at 415-689-5855 or at [email protected]

Photo - http://photos.prnewswire.com/prnh/20141105/156871
Logo - http://photos.prnewswire.com/prnh/20120917/SF74914LOGO

SOURCE Olympus Property