We’ve invested in The Olympus Harbour Island Apartments, a new 340-unit luxury apartment tower located on Harbour Island, just south of downtown Tampa.

The Olympus Harbour Island was built in 2017 with high-end finishes and amenities. Residents can enjoy sweeping views of the city and Tampa Bay while being just steps from the Channelside shopping district and downtown offices.

Business plan

The sponsor, Olympus Property, plans to hold and manage the property for roughly seven years before seeking exit opportunities. Our investment is structured like debt, where they are obligated to pay us a fixed rate of return over the life of the investment before they are able to earn a return for themselves.

Why we invested

• Attractive margin of safety: The sponsor has roughly $22 million of equity (about 17% of total costs) junior to our position. They would have to lose their entire investment before our principal was threatened.
• Experienced sponsor: Olympus Property is an experienced developer with a portfolio of roughly 17,000 multifamily units across the US AND Canada valued at approximately $2 billion.
• Income-generating asset: The property was roughly 90% occupied at the time of our investment, generating consistent cash flow through rental income.

As always, please don’t hesitate to reach out to with any questions or feedback via support@fundriseinvestment.com or info@fundriseinvestment.com