Virtú Investments Acquires Polo Club in Olympia, WA
Dec 01, 2017
*Olympia, WA*— The Evergreen Fund purchased Polo Club in the state capital of Washington, Olympia. This purchase presented an opportunity to acquire a newer, 127-unit multifamily property with light value-add upside in a desirable pocket of the submarket. Polo Club offers larger than normal floorplans in a quiet suburban setting, with easy access to excellent schools, at a great value compared to its local competition.
Polo Club is in the city of Olympia just south of the Seattle-Tacoma MSA. As rents continue to skyrocket in Seattle, renters are being pushed further and further south. With more affordable rents, larger living space, and easy access to employment, retail, and the great outdoors, many renters are now deciding to move to Olympia. Although there is some new supply of multifamily projects coming to Olympia, the primary focus for the majority of developers in still in and around Seattle.
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