FPA Multifamily Acquired Two Olympia Apartment Complexes
The firm purchased 283 total residential units for $43.7 million, marking a new shift in management for these local properties.
Updated on Oct. 13, 2026 in Commercial
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FPA Multifamily has purchased two apartment communities in Olympia for a total of $43.7 million. The transaction includes the 170-unit ReNew Evergreen and the 113-unit ReNew Rock Maple.
Why it matters
This transaction reflects continued investor activity in the local multifamily market, which saw $1.3 billion in transaction volume across the Puget Sound region. These acquisitions follow a broader trend of institutional investment in residential real estate assets within Thurston County.
The deal encompasses 283 units across two properties, resulting in an average price of $154,417 per unit. This acquisition adds to the $1.3 billion total multifamily transaction volume recorded in the Puget Sound region.
The players
FPA Multifamily
An institutional real estate investor that manages residential property portfolios across the country.
Bender Equities
A commercial property firm that served as the seller for these two apartment communities.
Institutional Property Advisors
A brokerage division that facilitates the buying and selling of large-scale commercial real estate assets.
Trinity Property Consultants
A professional management firm tasked with overseeing the day-to-day operations and leasing of the properties.
The details
The portfolio acquisition was arranged by Institutional Property Advisors on behalf of the seller, Bender Equities. The properties, now rebranded as ReNew Evergreen and ReNew Rock Maple, will be managed by Trinity Property Consultants. While ReNew Evergreen has been operating since 1973 and sits on 9 acres, the newer ReNew Rock Maple opened in 2004 on a 13-acre site.
Timeline
1973: ReNew Evergreen first opened.
2004: ReNew Rock Maple first opened.
September 2026: Chambers Reserve traded for $53 million.
October 13, 2026: Official news of the property acquisitions was published.
Money Landscape
This deal contributes to a broader regional multifamily market that has seen $1.3 billion in transaction volume. It reflects a sustained institutional appetite for residential assets in the Puget Sound area.
Residents of these properties should monitor communications from the new management, Trinity Property Consultants, regarding potential changes to lease terms or building operations. Consult with a qualified financial or tax professional if you have questions about how property ownership changes affect your long-term housing budget.
The takeaway
Large-scale property transactions are a common signal of institutional strategy shifts within the local rental market. Renters should review their existing lease agreements to understand how ownership transitions may impact their renewal rights or site-specific property services.
Further reading
For more on shifting property ownership trends, visit Commercial.
Source note: This article includes information reported by 301 Moved Permanently.
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