Olympus Property acquires Trailside Apartments in Flagstaff, Arizona
Leading real estate investment and management firm, Olympus Property, has strategically acquired the Trailside Apartments, a modern 111-unit community in Flagstaff, Arizona. This acquisition follows Olympus’s success with the nearby Mountain Trail Apartments, amplifying its influence in the Southwest region.
The decision to secure Trailside Apartments is rooted in Flagstaff’s buoyant rental market dynamics, characterized by impressive in-migration rates and limited housing supply. Consequently, there’s a surge in rental demand and rent prices. “Capitalizing on the opportunity presented by Trailside allows us to enlarge our presence in a market where housing supply is scarce, and demand fundamentals are promising,” stated Executive Managing Director, Chase Bennett. “Given our ownership of Mountain Trail, we’re optimistic about elevating Trailside’s operations to match our previous successes.”
Olympus Property expand its Southwest portfolio by acquiring Trailside Apartments in Flagstaff, Arizona. Photo courtesy of PRNewswire/Olympus Property.
Trailside Apartments enjoys a prime position near the I-40 / Route 66 intersection, providing inhabitants with effortless access to Flagstaff’s core economic hubs. The community is in proximity to over 1,000 thriving businesses and a vast workforce mainly in the government, healthcare, and education sectors. A stone’s throw from Northern Arizona University (NAU) – the region’s top employer with 21,000 students and 4,000 staff members – the apartments are strategically placed for economic growth.
Additionally, the nearby Flagstaff Regional Medical Center, employing over 2,200 professionals and catering to 700,000 patients annually, has unveiled plans for a $750 million expansion, underscoring Flagstaff’s commitment to robust employment opportunities.
The apartments, ranging from 463 sq. ft. to 951 sq. ft., are available in studio, one, and two-bedroom layouts. Their premium amenities encompass 9-foot ceilings, hardwood flooring, stainless steel appliances, scenic views, private outdoor spaces, and select units even feature detached garages. Trailside residents also enjoy exclusive access to high-end community facilities, including a fitness center, steam room, business center, clubhouse, and an ambient outdoor fireplace.