News
Recent news and press. Stay tuned for the latest updates regarding Olive Tree Holdings’ multifamily workforce, affordable and hotel investment program.
Borrower Profile: Olive Tree Sees Clear Path For Workforce Housing Expansion
December 9, 2022
New York-based Olive Tree Holdings, a mission driven private investment company with a focus on real estate, sees sustained demand and a clear path forward for its workforce housing strategy, with ample debt available from lenders – albeit at a substantially higher cost than a year ago. The value-add investor is targeting more rehab projects for potential acquisitions.
National Best Places to Work Multifamily®: 2023 Official Ranking Announced
December 9, 2022
Multifamily Leadership announced the official ranking for the 2023 Best Places to Work Multifamily® Program. The Life Properties, the property management and construction management affiliate of Olive Tree Holdings, has been named to the list.
Movers & Shakers: Jamin Harkness, President of The Life Properties
November 29, 2022
The Life Properties has announced that Jamin Harkness has joined the firm as President. Harkness will primarily focus on overseeing the day-to-day operations across the entirety of the property and construction management firm’s portfolio of work, which since inception has consisted of 16,000 workforce and affordable housing units.
Olive Tree Holdings Announces $6.9M Capital Improvement Plan at The Life at Northwest Gardens in Indianapolis, Indiana
November 28, 2022
Olive Tree Holdings, a mission driven private investment company with a focus on real estate, today announced a $6.9 million comprehensive capital improvement initiative at The Life at Northwest Gardens, a 366-unit multifamily community located at 5816 W. 38th Street in Indianapolis, Indiana. Capital improvement efforts are currently underway; upgrades to the exterior property façade and shared resident amenity spaces consist of roof replacements, new paintwork, enhanced landscaping design, repairs to the asphalt throughout the community, the installation of new cameras and upgrades to the LED lighting across the property.
Olive Tree Holdings tackling $3.7 million capital improvement project at Kansas City multifamily community
November 2, 2022
Olive Tree Holdings announced a $3.7 million comprehensive capital improvement initiative at The Life at Legacy Fountains, a 244-unit multifamily community at 1520 E. 97th St. in Kansas City, Missouri. Capital improvement efforts are currently underway and are slated for final completion by the second quarter of 2023.
People on the Move: Jeremy Kaner, Partner at Olive Tree Ventures
October 25, 2022
Olive Tree Ventures, the standalone PropTech and ConTech venture investing arm of Olive Tree Holdings, a mission-driven private investment company with a focus on real estate, announced that Jeremy Kaner has joined the firm as a Partner. Jeremy will oversee OTV’s investment activities across sourcing, diligence, and deal execution. Additionally, Jeremy will aid in leading portfolio company management, Strategic Partner Network activities, and serve as a member of OTV’s Investment committee.
Fayetteville properties to get $10 million investment
October 19, 2022
Olive Tree Holdings, a mission driven private investment company with a focus on real estate, said it will invest $10 million in three of its properties in Fayetteville with the intent to turn its duplex and fourplex residences into homes for purchase. This project will also provide residents across the Northwest Arkansas region with home ownership opportunities through the conversion of the duplex and fourplex residences for sale.
10M Facelift Underway At 3 NWA Apartment Complexes
October 18, 2022
Olive Tree Holdings, a mission driven private investment company with a focus on real estate, has announced $10 million in upgrades to three apartment properties in northwest Arkansas. Work is underway at The Life at Shiloh Reserve and The Life at Woodland Hills in Springdale, along with The Life at Rolling Meadows in Fayetteville. The improvements are scheduled to be completed in the third quarter of 2023.
2022 Industry Leaders: Ian Bel, Olive Tree Holdings
September 27, 2022
Ian Bel, Managing Principal and Chief Executive Officer of Olive Tree Holdings, was named as one of NYREJ’s 2022 Industry Leaders. This spotlight features leaders in commercial real estate for their outstanding professional accomplishments and contributions to the industry.
NY investors plan $43M of renovations of Section 8 apartments in Houston
September 21, 2022
Olive Tree Holdings, a mission driven private investment company with a focus on real estate, has renovations planned for three of its Houston apartment complexes – The Life at Parkview, The Life at Grand Oaks, and The Life at Westpark. Olive Tree Holdings has put $43 million towards renovating these three properties and construction is slated for completion in the second quarter of 2023.
Olive Tree Revamping Houston-Area Rental Community
September 16, 2022
Olive Tree Holdings, a mission-driven private investment company with a focus on real estate, is underway on a $10 million renovation at The Life at Park View, a 309-unit affordable housing community in the eastern Houston suburb of Pasadena. Completion is slated for the second quarter of 2023.
The Life Properties Appoints Jamin Harkness as President
September 15, 2022
The Life Properties, the property and construction management affiliate of Olive Tree Holdings announced today that Jamin Harkness has joined the firm as President. Harkness will primarily focus on overseeing the day-to-day operations across the entirety of the property and construction management firm’s portfolio of work, which since inception has consisted of 16,000 workforce and affordable housing units.
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Olive Tree Affordable Housing Unveils $7.8 Million Modernization Plan at 312-Unit The Life at Westpark Apartment Community in Houston
August 25, 2022
Olive Tree Affordable Housing, an affiliate of Olive Tree Holdings, a real estate investment firm focusing on value-add multifamily projects in dynamically growing markets across the United States, unveiled its $7.8 million modernization plan at The Life at Westpark, a 312-unit affordable multifamily complex in Houston, Texas. Property improvements are currently underway, with final completion slated for Q1 of 2023.
Olive Tree Holdings Upgrading Affordable Houston Property
August 24, 2022
Olive Tree Affordable Housing, the affordable housing affiliate of Olive Tree Holdings, a mission driven private investment company, is planning to spend $25 million on a capital improvement project for The Life At Grand Oaks in Houston. The 556-unit affordable multifamily complex is expected to take about a year.
Olive Tree’s Houston Affordable Housing Community to Get Spruced Up
August 9, 2022
Olive Tree Affordable Housing, the affordable housing affiliate of Olive Tree Holdings, is spending $7.8 million on the 312-unit The Life at Westpark in West Houston. Built in 1994, Olive Tree took over the project in 2022. Its residents are reserved for those earning 60% of the area median income. Westpark’s affordability status was expected to expire in 2025, but Olive Tree is seeking another 75 years.
Olive Tree Holdings and American South Real Estate Fund II Announce $23M Investment Partnership Supporting Affordable Housing
Nov. 23, 2021
Life at Elwood Grove is Olive Tree’s 40th multifamily acquisition. Funding has been secured to acquire and begin the renovation of The Life at Elwood Grove (formerly known as Springdale Ridge Apartments,) a 192-unit affordable multifamily apartment community in Springdale, Arkansas. The 16-building garden style project is being rehabilitated by Olive Tree Holdings (“Olive Tree”). This is Olive Tree’s fourth partnership with American South Real Estate Fund (ASREF) I and II, managed American South Fund Management (ASFM), a partnership between SDS Capital Group and Vintage Realty Company.
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Olive Tree Affordable Housing Development is pleased to announce May’s closing of The Life at Parkview
Aug. 16, 2021
The Life at Parkview, a 309-unit multifamily community located in Pasadena, TX, renovated with 4% Low-Income Housing Tax Credits in 1994, will undergo a second substantial renovation beginning in August 2021, ensuring the Property remains safe, quality affordable housing for the residents of Pasadena beyond the expiration of its current rent and income restrictions in 2025.
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Olive Tree Holdings and American South Real Estate Fund II Announce Third Investment Partnership Supporting Affordable Housing
Aug. 4, 2021
Olive Tree Announces Sale of Another Atlanta Asset
July 10, 2020
Olive Tree Property Holdings LLC (“Olive Tree”) a New York based owner/operator of workforce multifamily communities nationwide, has announced the sale of The Life at Peppertree Circle (“Peppertree”), a 167-unit workforce housing community located in the eastern Atlanta submarket of Decatur. Olive Tree sold the property for $13.1 million after having purchased it in the summer of 2017 for $4.82 million. The sale generated a gross IRR of 67% and an equity multiple of 3.1x in just under three years of ownership.
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Olive Tree Holdings Deploys LeaseLock Across Entire Portfolio
April 30, 2020
“With COVID-19’s impact on the rental housing industry, it’s more important than ever that operators offer an affordable move-in experience for residents while also protecting themselves from potential rent loss,” said Ian Bel, managing partner for Olive Tree. “LeaseLock enables us to do exactly that. It’s clear LeaseLock has a stronger, more sustainable lease insurance product relative to surety bonds—many of which were turned off in this environment.”
Olive Tree Expands Into Dallas with 24th Acquisition
March 13, 2020
Olive Tree Property Holdings LLC (“Olive Tree”), a New York based owner/operator of workforce multifamily communities nationwide, has announced the acquisition of Rosemont at Oak Hollow, a 153-unit affordable rental community located in South Dallas. This marked Olive Tree’s 24th acquisition since inception and 8th in the state of Texas.
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Olive Tree Exceeds 4,800 Units in GA & TX; Completes First Asset Disposition
Aug 26, 2019
Olive Tree Property Holdings LLC (“Olive Tree”) has continued its consistent expansion in Houston and Atlanta; completing 9 successful acquisitions year to date. The firm now owns 19 properties across Houston and Atlanta totaling 5.3 million square feet with 4,865 total units. There are several deals in the immediate pipeline totaling roughly 1,500 units set to close over the next 90 days.
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Olive Tree closes $11.6 million Fannie Mae loan for the refinancing of The Life at Snapfinger Woods
Aug 19, 2019
The Atlanta, Georgia office of Dougherty Mortgage recently closed an $11.6 million Fannie Mae loan for the refinancing of The Life at Snapfinger Woods, a 149-unit market rate multifamily apartment property located in Decatur, Georgia. The pet-friendly property offers on-site maintenance and management. The units have spacious open floor plans with sunken living rooms, fully equipped kitchens, private patios or balconies, fireplaces and large closets. The 7-year term, 30-year amortization loan utilized Green Rewards and was arranged for borrower 2 Shell Bark Road Decatur LLC.
Olive Tree Sells MF Property in Stone Mountain, GA for $21M
July 1, 2019
A joint venture of Dunross Capital, Sureste Partners and Stonemark Housing acquired Hairstone Woods, a 240-unit multifamily community in Stone Mountain for $20.8 million. The seller was Olive Tree Holdings. Located at 1173 N Hairston Rd., the property is situated on more than 20 acres.
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Olive Tree Successfully Exits Metro Atlanta Community for $21M With Sale to JV
June 28, 2019
A joint venture between Dunross Capital, Sureste Partners LP and Stonemark Housing Partners has acquired Hairston Woods Apartments, a 240-unit community in Stone Mountain, Ga.
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In The Spotlight – Michael Rosenfeld
June 15, 2019
“We’ve probably done six or seven trades at least, maybe it’s closer to ten times that we’ve worked with Derivative Logic. Jim is incredible. Every single time all of the information that is preloaded into DocuSign is right. It’s just quick, quick, quick, finished and done. Our attorneys, all the right people are always included in the emails that come from him. I don’t have to forward stuff around. It’s almost as if he’s sat in the real estate operator’s seat for a while before he founded Derivative Logic. He gets who his audience is and makes it really easy to deal with. We’re very happy with him.”
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