A new apartment complex on 21 acres at Ooltewah has been sold for $41.8 million.
Olympus Property acquired Legends at White Oak located at 9211 Lawford Way off of Ooltewah-Georgetown Road. It is just north of the Ooltewah business district and west of the Honors Golf Course.
Legends at White Oak is a brand new Class "A" apartment community comprised of 312 units. Completed in 2015, Legends at White Oak boasts high-quality construction with top-of-the-market finishes and amenities. Residents' amenities include an expansive salt-water pool with sun ledge, modern fitness center, two fully stocked fishing ponds, business center, billiards room, and a poolside cabana with fire pit.
"In addition to being an incredibly attractive asset, Legends at White Oak is perfectly situated near major job drivers within one of the best public school districts in Chattanooga," said Ruyi Li, acquisitions manager for Olympus Property.
Units feature top-of-the-line finishes, including open floor plans with 9-foot ceilings, balconies with expansive views, oversized closets, stylish wood cabinetry in kitchens and baths, premium granite countertops, ceramic tile baths, faux wood blinds, washer and dryer, hardwood style flooring, ceiling fan with lights, and patios/balconies.
Officials said, "The Legends benefits from its highly convenient location and provides convenient access to Chattanooga's largest employers in Downtown and along Highway 75/I-75. The $1 billion Volkswagen automotive plant and the Amazon distribution center each employ over 2,400 and are located within a five minute drive time. Additionally, the property is a short 15-minute drive to the urban core of Chattanooga."
"We are thrilled to be expanding our Tennessee portfolio in Chattanooga, a beautiful town attracting employers and families from across the nation," said Anthony Wonderly, principal of Olympus Property.
Legends at White Oak is the fourth property to be added to Olympus Property's sixth fund. The investment structure will provide investors an opportunity to diversify among numerous multi-family assets providing immediate cash flow in strong markets throughout the United States, it was stated.