FAYETTEVILLE, NC – Olympus Property announced the acquisition of King’s Quarter at Jack Britt in Fayetteville, North Carolina. Established in 1992 with a steadfast vision of becoming an industry leader, Olympus Property boasts a wealth of experience and a hands-on approach throughout the investment process.
The company continues to grow its presence in the multifamily real estate industry, providing residents with a best in class living experience and investors strong returns. Olympus currently owns and manages over 27,000 units spanning across 14 states being Arizona, California, ;Colorado, Florida, Georgia, Idaho, Kentucky, Montana, New Mexico, North Carolina, Tennessee, Texas, Utah, and Wyoming.
King’s Quarter at Jack Britt, a 252-unit garden style community, marks the third holding for Olympus Property in the supply-constrained market of Fayetteville. This acquisition strategically positions Olympus as one of the largest owner/operators in the MSA.
The area has experienced explosive growth over the past few years, with a metropolitan population increase of 37.9% from 2016 to 2021, making Fayetteville one of the fastest growing cities in America. In conjunction with strong in-migration trends, rents have been increasing at double digit rates, far surpassing the national average of 2.6%. These macro-economic fundamentals support continued long-term growth at the property, as well as the submarket.
“Fayetteville was just ranked amongst the top in the nation with year over year rent growth north of 11%,” notes Travis Bertetto, Associate Director of Acquisitions at Olympus Property. “Paired with the economies of scale we will realize by owning two other assets in the market, this acquisition will be a great addition to our expanding portfolio.”

KANSAS CITY, MO – As it nears completion, Three Light Luxury Apartments in the Power & Light District celebrated the pouring of the building’s last column with a ceremonial Topping Out event held near the project site in the heart of downtown Kansas City. Executives from The Cordish Companies and the Power & Light District were joined by distinguished guests from the city, community and business leaders, and executives and team members from JE Dunn Construction Company to celebrate this exciting milestone.
“The topping out of Three Light is a great opportunity for us to share our appreciation of the hard and skillful work of the JE Dunn team and look forward to opening this truly special building later this year,” said John Moncke, president of the Kansas City Power & Light District. “Three Light is a sign of continued growth and positive energy in downtown Kansas City. We will welcome hundreds of additional new residents to the Power & Light District when the building opens this year, bringing the total number of new apartment homes in the District to nearly 1,000 since One Light opened a few short years ago. For the past 15 years we’ve invested in building a world-class community here in Kansas City, and continue our commitment to expand our residential offerings, retail tenants, and entertainment options in the Power & Light District in the years to come.”
“We are excited to see yet another high-rise residential tower reached its peak in the core of downtown Kansas City,” said Brian Platt, City Manager of Kansas City, MO.” We look forward to the hundreds of new residents and additional activity and energy this project will bring.”
Three Light is a landmark tower of gleaming glass that provides panoramic views of the Kansas City skyline, the neighboring Crossroads Arts District, and its own setting in the Power & Light District. The building celebrates Kansas City’s vibrant musical heritage and its dynamic present day, honoring the city’s rich musical legacy with visual salutes to Kansas City jazz legends Count Basie and Charlie “Bird” Parker. Murals pay tribute to Basie and Bird, with a white-to-black gradient that evokes Basie’s piano keys, while brass tones conjure Parker’s saxophone.
“Three Light’s character will be enhanced by honoring Kansas City’s long-standing jazz heritage through art and interior design,” said Marnie Sauls, Executive Director of Residential Management for Cordish Living. “The mural featuring Kansas City jazz legends, Count Basie and Charlie ‘Bird’ Parker, will be replicated on the side of the building by acclaimed Kansas City-based artist, Alexander Austin.” Austin also completed two major murals on the exterior of Two Light that pay special tribute to great people and moments in Kansas City’s history.
Located at the corner of Truman Road and Main Street, the new 25-story building sits directly on the KC Streetcar Line across the street from the forthcoming South Loop Link Park over I-670. Three Light will include a seven-story parking garage with 472 spaces, as well as 7,600 square feet of ground level retail space. Spacious studio apartments, one- and two-bedroom units, and designer penthouse apartment homes will offer a variety of floor plans across 19 floors.
“It’s extremely exciting to be celebrating this milestone and move one step closer to our opening this fall,” said Emelyna Aurich, Director of Property Management for Cordish Living. “Three Light will mirror the quality and community our residents One Light and Two Light love, but with its own style and uniqueness. We have spent a tremendous amount of time curating every detail of this building – from the design to the over 30,000 square feet of amenity space the building will offer.”
“Three Light’s topping out is a major project milestone that JE Dunn could not have accomplished without our partnerships from The Cordish Companies, our trade partners, and most importantly the individual 785 tradesmen and women who show up every morning and work hard,” stated Jim Coulter, Group Manager of JE Dunn Construction.

WASHINGTON, DC – The District of Columbia Housing Finance Agency (DCHFA) has issued $23.1 million in tax exempt bonds for the construction of Alabama Avenue Apartments in Ward 8. The Agency underwrote $22 million in federal and local Low Income Housing Tax Credit equity for the development of this 100 percent affordable community.
As construction continues to increase in Ward 8, DCHFA is committed to ensuring that long-term residents are able to remain in their communities, stated Christopher E. Donald, Executive Director/CEO, DCHFA. Alabama Avenue Apartments will make that possible for 86 individuals and families, and ultimately get us closer to Mayor Muriel Bowser s goal of 12,000 new affordable homes by 2025.
Alabama Avenue Apartments will help address the need for family-sized units in the District by including 26 three-bedroom apartment homes. There will also be 28 two-bedrooms and 32 one-bedrooms. Nine units will be reserved for residents earning up to 60 percent of the area median income (AMI) and 59 units will be reserved for those earning up to 50 percent AMI. The remaining 18 units are designated Permanent Supportive Housing (PSH) reserved for residents earning 30 percent or less AMI, and they will receive Local Rent Supplement Program operating subsidy.
Enterprise Community Development, Inc. and Durrani Development Corporation are the developers of this community, with a total development cost of $49.2 million. Additional funding for this project came in the form of a $12.9 million Housing Production Trust Fund loan from the D.C. Department of Housing and Community Development (DHCD).
Alabama Avenue Apartments will be constructed in the Garfield Heights neighborhood. This community is located less than two miles from the Congress Heights Metro Station. It is in walking distance to The Crest at Skyland Town Center which includes a grocery store, pharmacy and other retail. Community amenities will include a laundry facility, bike storage, fitness room, a flexible community space on each floor, and on-site property management and PSH offices.
Through its Multifamily Lending and Neighborhood Investment and Capital Markets divisions, DCHFA issues tax-exempt mortgage revenue bonds to lower the developers costs of acquiring, constructing and rehabilitating rental housing. The Agency offers private for-profit and non-profit developers low-cost predevelopment, construction and permanent financing that supports the new construction, acquisition, and rehabilitation of affordable rental housing in the District.

WASHINGTON, DC – Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation s leading builder of luxury homes, and joint venture partner CrossHarbor Capital Partners, broke ground on Vermeer, a 13-story, 501-unit multifamily rental and mixed-use community in Washington, DC The project is being financed through a construction loan facility from Bank OZK.
The March 8 groundbreaking celebration was hosted adjacent to the construction site at the Cambria Hotel and was attended by senior executives from Toll Brothers Apartment Living, CrossHarbor Capital Partners, development partners, and local officials. Vermeer began site work in late 2022 and is anticipated to open in 2024.
We are excited to add Vermeer to our growing portfolio of luxury rental communities in Washington, DC, said Michael Skena, Mid-Atlantic Regional Director of Acquisitions and Development for Toll Brothers Apartment Living. Toll Brothers has been building homes in this market for nearly thirty years. Now, with more than 3,000 rental units completed or under development in the area, Toll Brothers Apartment Living is extending the esteemed Toll Brothers luxury brand reputation even further into this dynamic market with Vermeer.
Located at 113 Potomac Avenue SW, Vermeer is a 13-story building with 12 stories of residential atop ground-floor retail on an approximately 1.5-acre site. The property includes a 267-space below-grade parking garage with EV charging stations. Vermeer will also include approximately 37,000 square feet of ground-floor retail space for a diverse mix of neighborhood-serving and experiential-based retail.
Vermeer is situated in Washington s redeveloping and bustling Buzzard Point neighborhood within the Capitol Riverfront Business Improvement District, a dynamic, amenity-rich urban neighborhood along the Anacostia River. Prominently placed at the gateway to Buzzard Point, Vermeer overlooks the Frederick Douglass Bridge to Anacostia. Vermeer is also immediately adjacent to Audi Field — home to both of Washington, DC s professional men s and women s soccer teams, the D.C. United and the Washington Spirit — with a rooftop courtyard that provides residents unobstructed views directly into the stadium.
Vermeer is Toll Brothers Apartment Living s fourth transit-oriented development within Washington, DC, located within easy walking distance of both the Navy Yard and Waterfront Metro Stations. Vermeer also marks the continued expansion of the Toll Brothers luxury brand into the Washington, DC market, joining Union Place, Banner Lane, and Parc Riverside, the firm s 595-unit community also located in the Capitol Riverfront Business Improvement District. Vermeer will achieve LEED Silver certification. The property is also the fifth Opportunity Zone project developed by Toll Brothers Apartment Living in the U.S.
We are thrilled to join Toll Brothers Apartment Living once again as we break ground on Vermeer, said Allan Jones, Operating Partner at CrossHarbor Capital Partners. We are also pleased to finance the project with Bank OZK, which has underwritten many developments across the region.
Vermeer is amenity-rich with an elevated luxury offering among the residential rental communities in the rapidly redeveloping Buzzard Point neighborhood. Amenities on the penthouse level include a rooftop pool, fitness center with hydration bar, lounge area, and outdoor lounge and firepit. For residents to play and entertain, the penthouse also features a game room, a private dining room with bar, a great room, an outdoor grill area, and tiered seating overlooking Audi Field. Additional amenities include courtyard lounges, a pet spa, coworking spaces, conference rooms, and bike and tenant storage. A second amenity space on the second level connects two courtyards with varying vantage points.
Residence features include quartz countertops with tile backsplashes, designer custom cabinetry, stylish waterproof wood-inspired flooring, keyless Latch door locks, efficient LED lighting, as well as convenient movable kitchen islands, smart urban mudrooms, oversized closets with custom closet organizers, private balconies and terraces, and views of the Anacostia and Potomac Rivers and Audi Field in select residences. Floor plans range from 461 to 1,556 square feet, with a unit mix that includes studios, junior one-bedrooms, one-bedrooms with and without dens, junior two-bedrooms, two-bedroom units with and without dens, and three-bedroom units.
Designed by KTGY, Vermeer hints at the legacy of the Buzzard Point neighborhood with a design inspired by the materials of neighboring Audi Field, featuring a sleek and contemporary aesthetic complemented by accents of warm wood siding, with brick-and-glass panels decorating the three wings of the W -shaped building clad in brick masonry.
Vermeer offers a rarified collection of apartment residences that artfully combine a curated set of best-in-class amenities in the Capitol Riverfront neighborhood, where aspiring professionals, District sports fans, and visitors to the nation s capital all convene. With sumptuous living spaces, welcoming hospitality offerings, and brilliant experiences to explore, Vermeer is a connected, expressive community at the forefront of southwest Washington s emerging Buzzard Point neighborhood.

COLORADO SPRINGS, CO – An affiliate of The Axton Group and The Bascom Group announced they have closed on the sale of two multifamily communities, Park at Penrose and Park at Palmer, in Colorado Springs, Colorado, for $74.1 million. Park at Penrose with 374 units, and Park at Palmer with 112 units, are located at 3802 and 3903 Half Turn Road, in Colorado Springs, situated along N. Academy Boulevard near Austin Bluffs Parkway. These adjacent properties, formerly named Summer Grove and Tanglewood, are located in the Palmer submarket, the fastest rent growth submarket of Colorado Springs.
The Axton / Bascom Partnership purchased the properties for $41.15 million in June 2019 and completed a successful multi-year renovation program to upgrade the apartment units and community amenities, resulting in significant renovation rent premiums.
The properties’ booming neighborhood is conveniently located near shopping, dining, outdoor recreation, and strong employment opportunities, driving organic rent growth during the Partnership’s investment period. Major local employers include Amazon and FedEx, located near the Colorado Springs Airport, which is only a 15-minute drive from the properties.
During the investment period, Colorado Springs continued to benefit from a steady influx of employers in the aerospace, military, technology, life science, healthcare and banking sectors who relocated to and expanded in this area. The nearby I-25 provides property residents easy access to many major employment hubs and a direct one-hour commute to Denver.
Park at Penrose and Park at Palmer offer one, two, and three bedroom apartment options. Renovated units include new kitchen appliances and cabinets, updated flooring and lighting fixtures, and bathroom vanities. The properties feature a state-of-the-art fitness center, a dog park, pool, a club house with game rooms and billiards, business centers, and grilling and picnic areas. The Partnership enjoyed several years of strong operating cash flow and successfully re-financed the properties in February 2022.
Axton and Bascom are continuing to focus on investments in the multifamily sector across the United States, with a focus on value-add opportunities that arise as pricing resets amid significant global macroeconomic pressures. The Partnership is grateful for the efforts of the entire team involved in stewarding these assets over the past four years, leading to a successful outcome for the Partnership.

SEATTLE, WA – Security Properties completed its final Capital Call for Security Properties Multifamily Fund VI, a $200 million moderately leveraged, geographically diversified private equity real estate fund that invested primarily in institutional joint ventures as the General Partner. The structure of these investments afforded Fund VI members an opportunity to participate in shared potential promoted interests in various joint ventures with institutional partners.
Fund VI invested in existing apartment communities in 11 MSAs, from the Nashville and Austin Metros to the West Coast. In total, Fund VI made 28 multifamily investments. Twenty-six of these (80% of Fund VI’s committed equity) are co-GP investments, where Fund VI Members participate as LP’s of the General Partner, an affiliate of Security Properties, and have an opportunity to participate in the General Partner’s share of any promoted returns. Two other Fund VI investments (20% of Fund VI’s committed equity) are directly owned by Fund VI, without an institutional partner.
In total, Fund VI combined its $200 million of committed equity (10%, or $20M, of which, was co-investment from the firm and its employees) into joint ventures with 13 different institutional partners. These institutional partners contributed an aggregate of $780 million of equity, and, together, Fund VI and these institutional partners collectively acquired $2.1B of multifamily real estate, comprised of 6,400+ units. Total leverage on the fund was approximately 60% loan to cost.
Security Properties initially targeted a $150 million raise for Fund VI, expandable to a maximum of $200M. Fundraising commenced in Summer of 2021. Although the fundraise was initially projected to take over two years, Fund VI raised the maximum of $200 million in six months.
Fund VI was the sixth in a series of increasingly larger funds that have sought to team accredited investor and smaller institutional capital with Security Properties’ roster of 30 institutional partners in one-off acquisitions. These institutional partners have utilized Security Properties’ nearly 700-person operating and property management platform to allocate capital into over 130 existing, cash-flowing market-rate multifamily properties since 2010.
Ed McGovern, Managing Director of Capital Markets, added “Security Properties has had a long history of working with private individuals to invest in multifamily real estate going back to its founding in 1969. We strive to be communicative, responsive and transparent. We structure our investments so that interests are aligned for all participants and offer the ability for our investors to participate in a large portfolio of institutional apartment real estate.”

COLORADO SPRINGS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced the development of The Garrison, a 336-unit Class A multifamily community in the Colorado Springs suburb of Fountain. Thompson Thrift plans to welcome new residents starting late 2024.
“The Colorado Springs area is recognized for its top-quality educational system, ample job opportunities, and an abundance of outdoor recreational activities,” said Josh Purvis, managing partner for Thompson Thrift Residential. “These factors have spurred population growth and The Garrison presents us with an excellent opportunity to provide a highly desired luxury living rental option for area residents.”
The Garrison will be located near the intersection of Mesa Ridge Parkway and Fountain Mesa Road, adjacent to Fountain’s two major arterials and with easy access to Interstate 25. The development site spans 22 acres and Thompson Thrift will utilize the land’s natural undulation with thoughtful grading to provide unobstructed views of the Cheyenne Mountain range for the 10 three-story, garden-style buildings. The company is also utilizing native landscaping material that will enhance the natural setting with minimal need for supplemental watering.
Residents will be able to choose from one-, two- and three-bedroom floorplans that will offer up to 1,369 square feet of living space. Thompson Thrift is known for curating amenities and finishes that are on par with for-sale homes and each apartment home will offer gourmet kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, as well as patio, balcony, and private yard options.
Luxury living will extend throughout the community with amenities such as a professionally decorated clubhouse, resort-style heated swimming pool, 24-hour fitness center, community grilling area, a dog park, convenient Wi-Fi for resident use, pavilion, community garden and more.
Residents will enjoy walkability to The Markets at Mesa Ridge, a regional shopping center anchored by Safeway, Lowe’s and Walgreens, as well as short commutes to the area’s major employers including Peterson Space Force Base, Memorial Hospital and Fort Carson, the largest employer in the state of Colorado.
Colorado Springs possesses one of the most educated workforces in the country, with top-notch talent among trades and technology. Lockheed Martin, Bal Seal, Philips, Hewlett Packard, Oracle and more than 140 additional companies leverage their talented job force with fantastic job security due to the stable presence of five U.S. military installations. In recent years, Colorado Springs earned accolades for the most educated city from CNBC and most innovative schools from U.S. News & World Report.
During the past 30 years Thompson Thrift has developed more than $4 billion of ground-up development projects across the Midwest, Southeast and Southwest. The company made a name for itself by being one of the few developers to build high-quality, attractive Class A residential communities with a variety of conventional, luxury leased villa and townhome-style communities.
Thompson Thrift is active throughout the state, with eight communities currently under management or under development.

DETROIT, MI – The partnership of Oxford Capital Group, Hunter Pasteur, and The Forbes Company announced the topping off of the multi-family project, Perennial Corktown in Detroit, Michigan. The community will begin pre-leasing apartment units in Spring 2023.
The project includes the seven-story apartment complex, seven townhomes, a three-story parking garage, and more than 12,000 square feet of retail space. It is adjacent to the luxury lifestyle Godfrey Hotel that Oxford and Hunter Pasteur are separately developing, which will open this summer. Leasing for tenants in the retail space at Perennial Corktown is currently underway with the first lease already signed.
The development is set to open in November 2023, debuting 188 units including a combination of studio, 1-bedroom, and 2-bedroom, in addition to seven luxury 3-bedroom townhomes. Residential tenants of Perennial Corktown will have access to an array of premier onsite amenities, including an outdoor pool and deck area, community co-working space, workout room with a yoga studio, outdoor amenity deck, club room with private dining and rentable rooms, demo kitchen, and more. With the goal of creating a strong community within the building, Perennial Corktown will activate unique programming in common spaces for residents to enjoy throughout the year.
“With Corktown’s rich history, increasing visibility, and growing popularity in Downtown Detroit, we are thrilled to join the thriving community of businesses and look forward to welcoming new residents and locals to the Perennial Corktown complex in 2023,” said John W. Rutledge, Founder, Chairman and CEO of Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC.
“We are pleased with the significant construction progress that has been made at our Perennial Corktown Project, and completing the superstructure is an important milestone. We are equally pleased that our projects are bringing to fruition important community benefits, including but not limited to workforce development, employment, tax base, sustainability and infrastructure investment.” said Seth Herkowitz, Partner at Hunter Pasteur.
The complex will feature an expansive 12,000 square feet of retail space across the ground floors of the apartment building and parking garage, which will be ideal for the community of businesses looking to expand in the heart of Corktown, one of the most dynamic and rapidly growing submarkets in Detroit. Corktown Market is the first confirmed business to join the Perennial Corktown with 2,033 square feet of retail space. The market will be a new full-service neighborhood grocery store set to open in the Fall of 2023, and is committed to providing fresh, affordable, and local products to residents, with a full-service deli and coffee bar that includes indoor and outdoor seating.
“As lifelong Detroiters, we couldn’t be more excited to be a part of the Perennial in Corktown! This vibrant community holds a special place in our hearts, and we’re honored to contribute to its growth by the opening of our market,” says Hadwan Hadwan, owner of Corktown Market.
Across the street and opening in Summer 2023, will be The Godfrey Hotel Detroit, a 227-room luxury lifestyle hotel. From Oxford Capital Group, LLC and Hunter Pasteur, the property will feature an indoor/outdoor rooftop lounge with expansive views of downtown Detroit and Corktown, a 6,000 square foot ballroom that will accommodate events of more than 350 guests, an additional outdoor events venue, and a fitness center.

NEW YORK, NY – On behalf of BentallGreenOak and Slate Property Group, Newmark has arranged a $248 million refinancing of The Biltmore, a 464-unit luxury apartment building complemented by 47,397 square feet of commercial space located in New York City’s dynamic Midtown West submarket.
The Newmark team was led by Co-Heads of Newmark Debt & Structured Finance ordan Roeschlaub and Dustin Stolly, along with Senior Managing Directors Nick Scribani and Chris Kramer. Square Mile Capital and Clarion Partners provided the loan.
The recently upgraded asset features a renovated lobby, full floor of upgraded amenities and modernized elevator systems.
“The multifamily market in New York City has been a strong performer despite the headwinds over the past few years and quality assets that offer a mixed-use component remain a top choice for owners,” said Roeschlaub. “We believe that the financing provided by our partners at Square Mile Capital and Clarion will allow for ownership to successfully complete strategic upgrades to this iconic asset,” added Stolly.
The Biltmore was constructed in 2003 and spans 51 stories, featuring stunning views of the city skyline and Hudson River. The 464 apartment units combine upscale finishes with a comprehensive amenity package. Tenant amenities include a 24-hour concierge, fitness center, game room, lounge, movie/TV screening room and roof deck complemented by a 61-space attended parking garage. The commercial space of the property features food and beverage purveyors, convenience-oriented retail, boutique fitness and a medical office.
Ideally situated in New York City’s Midtown West submarket, The Biltmore is favorably positioned in one of Manhattan’s most accessible locations and is conveniently located near Hudson Yards, major Midtown employers, hip restaurants and nightlife destinations, iconic entertainment venues, Columbus Circle, Central Park and Times Square.

WEST HOLLYWOOD, CA – Olympus Property announced the acquisition of Angelene Apartments, a 179-unit apartment community located in West Hollywood, California. Established in 1992 with a steadfast vision of becoming a leader in the multifamily real estate industry, Olympus Property boasts a wealth of experience and a hands-on approach throughout the investment process. The company’s portfolio represents over 27,000 units under ownership and management. Olympus Property is currently invested in fourteen states.
Angelene Apartments offers a rare generational opportunity to own a mixed-use Class A community in one of Los Angeles’ most highly coveted neighborhoods. Built in 2016, the property is located in the epicenter of the world’s entertainment capital and is within a three-minute walk of over 1.5 million square feet of restaurants, bars, and shops along Melrose Avenue. Residents have incredible access to Los Angeles’ most prominent employment centers including Hollywood/West Hollywood, Beverly Hills, Century City, Culver City, Westwood, Santa Monica, and Downtown LA. The project is anchored by 33,500 sq. ft. of ground floor retail currently occupied by Sprouts Farmers Market, one of the fastest growing national retailers.
The acquisition of Angelene Apartments is an exciting opportunity to own and operate a newer vintage asset in one of the region’s most supply constrained markets. “Angelene will be our first acquisition in the highly sought after West Hollywood market,” notes Chase Bennett, Executive Managing Director at Olympus Property. “It’s an exceptionally built property paired with strong market fundamentals, as well as an extremely limited development pipeline. This asset will continue to create value for our investors and Olympus for years to come.”
This state-of-the-art community distinguishes itself with an extensive hotel-style amenity package including a pool deck and clubhouse overlooking West Hollywood, an abundance of outdoor common areas, and a fully equipped fitness center. Apartment homes feature open living spaces and large windows with well-designed and spacious floorplans in a mix of studio, one-, two-, and three-bedroom configurations. Interiors include a curated list of high-end amenities including stainless-steel appliances, quartz countertops, modern cabinetry, 9 ft. ceilings, full-size stackable washers and dryers, and hardwood-style plank flooring.
Derrek Ostrzyzek, Tom Moran, Rachel Parsons and Mike Murphy of Berkadia Institutional Solutions completed the sale on behalf of the institutional seller. Additionally, Tucker S. Knight of Berkadia’s Houston Texas office arranged acquisition financing through Freddie Mac on behalf of Olympus Property.