Olympus Property Expands Flagstaff Presence with the Acquisition of Trailside Apartments

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Aug 18, 2023, 12:53 ET

FORT WORTH, Texas, Aug. 18, 2023 /PRNewswire/ -- Olympus Property, a leading real estate investment and property management company, recently completed the strategic acquisition of Trailside Apartments. This vibrant 111-unit apartment community was built in 2020 and is situated in the heart of Flagstaff, Arizona. Olympus currently owns and operates Mountain Trail Apartments, also built by Chason Affinity Companies, less than 1 mile from Trailside. Olympus's success at Mountain Trail paved the way for the recent acquisition of Trailside as Olympus continues to expand its portfolio in the Southwest.

Olympus Property Acquires Trailside Apartments in Flagstaff, AZ

Apartment fundamentals in Flagstaff remain robust as strong in-migration converges with a lack of supply. This imbalance has led to higher-than-expected rent growth and demand for rental housing. "Trailside is an opportunity for Olympus to expand our footprint in an extremely supply-constrained market with exceptional fundamentals," notes Executive Managing Director, Chase Bennett. "As owners of Trailside's sister property, Mountain Trail, Olympus is confident that our team will enhance the Property's operations upon takeover and achieve the same operational success as seen at Mountain Trail."

Trailside Apartments benefits from its desirable location, situated near the I-40 / Route 66, which provides residents seamless access to crucial economic centers within the city. The area boasts a thriving network of over 1,000 businesses and a workforce of 42,900 predominantly within the government, healthcare, and education sectors. Most notably, Trailside is less than a mile away from Northern Arizona University (NAU), a prominent institution and the largest employer in the region. With an enrollment of 21,000 students and a faculty-staff cohort of 4,000, NAU significantly contributes to the local economy's vibrancy. In addition, the community offers access to the Flagstaff Regional Medical Center, another premier local employment hub. This medical facility employs over 2,200 professionals and serves a staggering 700,000 patients each year. The medical center's recent announcement of a $750M expansion underscores the city's steadfast dedication to fostering job growth and retaining top-tier local talent.

Trailside Apartments offers a selection of inviting studio, one-, and two-bedroom floor plans, ranging from 463 sq. ft. to 951 sq. ft. Apartment amenities combine quality and comfort including 9-foot ceilings, hardwood floors, stainless steel appliances, private balconies and patios, in-unit washer and dryers, scenic views, and detached garages in select units. Residents at the property also have access to a selection of top tier community amenities, including a clubhouse, business center, fitness center, steam room, and an outdoor fireplace.

Please direct all inquiries to Jeff Evans at 325-829-8844 and [email protected], or Braden Barr at 415-686-0232 and [email protected].

For more information please visit: www.OlympusProperty.com.

SOURCE Olympus Property