Olympus Property Expands into Mid-Atlantic Market with Ascend by the Sea

Olympus Property Expands into the Mid-Atlantic Market

Olympus Property has taken a significant step by acquiring Ascend by the Sea, a newly constructed luxury apartment community boasting 216 units in Millville, Delaware. This marks the company’s inaugural investment in the Mid-Atlantic region, aligning with its strategy to tap into the East Coast's rapidly growing coastal markets.

Located along the popular Southern Delaware Beaches corridor, Ascend by the Sea is strategically positioned to leverage the area’s economic growth and demographic trends. Olympus Property aims to focus on markets that are witnessing robust population growth and limited new supply. In this context, Millville's remarkable development trajectory, with over 40% growth in population since 2010, establishes it as an attractive locale for multifamily investments.

Eduardo Miranda, Director of Investments at Olympus Property, stated, "Our focus in the Mid-Atlantic has been centered on stable apartment economics and leading employment markets. We see Ascend by the Sea as a prime opportunity to enhance our portfolio in a region characterized by favorable supply and demand fundamentals."

The community aims to meet the needs of a flourishing population, offering spacious floorplans and easy access to prominent employers in the area, including Beebe Healthcare, TidalHealth, and Perdue. The site’s proximity—only four miles from Bethany Beach—presents an added advantage, contributing significantly to the local economy, which generates approximately $7 billion annually from tourism and related activities.

With nearly 35 years of experience in self-managing properties, Olympus Property is poised to deliver exceptional returns for its investors while also providing excellent services for residents. The company is committed to acquiring assets in locations that not only promise immediate growth but also long-term sustainability and performance.

Founded in 1992 and headquartered in Fort Worth, Texas, Olympus Property operates a comprehensive portfolio valued at around $10 billion, encompassing over 39,000 units across 18 states. This strategic expansion into Millville demonstrates the firm's dedication to enhancing its multifamily offerings while addressing the needs of residents in high-growth markets.

As Olympus Property continues to evolve and grow its presence in key markets, the acquisition of Ascend by the Sea signifies a pivotal moment in the company’s history, reinforcing its commitment to delivering quality living experiences aligned with market demands. To learn more about their expanding portfolio and market strategies, visit www.OlympusProperty.com.