568 Units acquired near Permian Basin

​MIDLAND, ODESSA – Fort-Worth based Olympus Property launched its eighth fund by closing on two multifamily properties in separate transactions.

The Texas buys include 568 total units in Midland and Odessa.

The 300-unit Sundance Creek Apartments, located at 3700 Edwards St., Midland was purchased from Sundance Creek LLC of San Antonio.

The 268-unit Sedona Ranch, located at 8001 Brownstone Rd., Odessa, was bought from Greystar.

The two Texas assets represent good investments because of their proximity to the Permian Basin.