EL PASO, TX – Olson Capital Investments is a private real estate investment firm owned by Obin and Amariah Olson. Yield Crowd is a portal to buy YIELD tokens on the Stellar blockchain. Olson Capital Investments just acquired Hacienda Heights, 129 apartment units in El Paso, TX for $7,300,000.
Commenting on their new acquisition, Principal co-founder Amariah Olson stated, “We are excited to finally acquire this property. The property is in older condition, ripe for value-add. We intend to renovate the property over the next couple of years, increase rents, and ultimately, the value.”
This is the Olson’s third acquisition within a year, and one of two target acquisitions they are making from the sale of 105 apartments in Dallas, TX which they had bought, renovated and sold for a profit. Publicly traded Arbor Commercial Mortgage provided $4.035m of debt on the property, and Marcus and Millichap #1 commercial real estate investment sales brokerage and capital markets advisory in North America with Global reach, brokered the deal.
“We like parts of Texas that still contain value. Texas has landlord friendly laws that are ideal for renovation plays,” stated Obin Olson.
This acquisition will help bolster their subsidiary, Yield Crowd, which issues tokens backed by corporate bonds on the Stellar blockchain. Investors from all over the world can diversify into U.S. real estate assets, and freely buy and sell to each-other on the Stellar Decentral Exchange at yieldcrowd.com.
The Olson’s have completed over 21 real estate investments in Office, Residential, Multifamily, and Retail, totaling over $80 million in transactions, which they have privately financed with their own equity and institutional debt.