Monday, November 10, 2014

New owners plan upgrades at large Plano apartment community

The Legends at Ridgeview Ranch apartments opened in 1999. (Olympus)
A large Plano apartment community has sold to two investors.
Olympus Property and Artemis Real Estate Partners said Wednesday that that they have purchased the 480-unit Legends at Ridgeview Ranch apartments.
Located south of State Highway 121 near Custer Road, the rental community was built in 1999 on 34 acres.
The new owners plan to spend about $2 million on renovations to the project.
Olympus Property is based in the Dallas-Fort Worth area and has been in business since 1992. The company operates roughly 8,000 apartments in eight states.
Artemis Real Estate Partners is a real estate investment management firm based in Washington, D.C. that has raised over $1.8 billion.