KATY, TX - Olympus Property announced the successful acquisition of Echo at Katy Ranch, a Class-A garden style community built in 2013 and located outside of Houston in the thriving town of Katy, Texas. Effective immediately, the asset will be renamed Olympus Katy Ranch.
2018 has been a productive year for Olympus. Olympus Katy Ranch is the 12th purchase in 2018 with almost 4,000 high quality apartment units added to the overall portfolio this year.
"Olympus maintains a longer-term view of the markets. Olympus Katy Ranch is located in a booming submarket of Houston and offers attractive long-term value and upside for our investors and our firm," said Chase Bennett, Director of Acquisitions at Olympus Property.
Katy has emerged as one of Houston's most popular suburban areas based on its excellent school district, award-winning residential neighborhoods, and access to numerous major employers within the Energy Corridor. Located only 10 miles from Olympus Katy Ranch, the Energy Corridor is the headquarters for numerous national and international energy corporations, healthcare companies,engineering firms, chemical corporations, and financial services companies. It is the third largest employment center in Houston with over 94,000 employees and 300 companies.
"Olympus Katy Ranch is an ideal addition to our portfolio in our home state of Texas. We believe our purchase basis for the age and location of this property are ideal," said Anthony Wonderly, Principal at Olympus Property.
Olympus Katy Ranch is a luxury low-density community positioned across 14 acres, which offers a 2-story design with direct access garages for 100 of its 260 units. Premier amenities include a resort-style pool with spa, six gas grills, fireside lounge, resident clubroom with TVs, billiards room, 24-hour fitness center with circuit and core training equipment, and a gated bark park. Unit features include gourmet bar kitchen with pendant lighting, granite countertops, brushed nickel plumbing, hardwood-style flooring, private balconies, garden bathtubs, walk-in closets, in-home washer and dryer, and detached garages.
Founded in 1992, Olympus Property owns and manages the most desirable multifamily opportunities across the United States and was recently named the 2nd best place to work in multifamily by The Multifamily Leadership Summit in 2019. Over a 26-year history, the firm has become a successful and recognized name in the multifamily industry with over 17,000 units owned and operated across ten states.