Olympus Property announces the successful acquisition of Mountain Trail, a garden style Class-A multifamily community in Flagstaff, Arizona.
Mountain Trail is strategically located at the intersection of Interstate 40 and 17, Flagstaff's primary thoroughfares, only 150 miles north of Phoenix. It is the only multifamily community in the Flagstaff market with direct-access garages, which is a popular demand in colder climate cities. Community amenities include a large hot tub and fireplace, state-of-the-art fitness center, sauna room, putting green, and hiking and jogging trails. Mountain Trail homes feature 9-foot ceilings, stainless steel appliances, granite countertops, plank flooring, and smart home technology.
"Mountain Trail is one of the most desirable assets within the Flagstaff market due its superior location and unique direct-access garage design. The lack of supply and government restrictions in Flagstaff in turn make this an appealing opportunity to our Partners and Olympus," said Chase Bennett, Director of Acquisitions.
The city of Flagstaff is a flourishing market that is seeing expanding growth for those seeking a quieter alternative to Phoenix – so much so that Flagstaff made USAtoday.com's 2018 list of "Ten Best Places to Avoid Noise, Light, and Air Pollution." Flagstaff is the primary educational, commercial, and cultural center for northern Arizona including a large number of High Tech and Development Industries. With more than 44% of residents holding a bachelor's degree or higher, it is Arizona's most educated workforce. All within five miles of Mountain Trail are the city's largest employers: the 3rd largest university in the state – North Arizona University (3,500 jobs), Gore Creative Technologies (3,000 Jobs), and Flagstaff Medical Center (2,000 jobs). Known as the city of seven national wonders, Flagstaff offers everything from the Grand Canyon National Park to the San Francisco Peaks which includes the Arizona Snowbowl, one of Arizona's only two ski resorts just 30 minutes north of property. Additionally, just three miles from the property is Aspen Place at Sawmill, a retail center anchored by Whole Foods Market and REI.
Founded in 1992, Olympus Property owns and manages some of the most desirable multifamily opportunities across the United States. Olympus Property is headquartered in Fort Worth, Texas. Over a 28-year history, the firm has become a successful and recognized name in the multifamily industry owning and operating approximately 17,000 units across ten states.
