Olympus Property Secures Strategic Investment with Acquisition of Confluence at Three Springs in Durango
Olympus Property has expanded its footprint in the vibrant Durango, Colorado market with the noteworthy acquisition of Confluence at Three Springs. The property, a 171-unit, Class A apartment community, is a part of the well-planned Three Springs development and represents Olympus Property’s second investment in Durango, following the management of Rocket Pointe since 2021.
The company’s latest acquisition underscores its strategy to build and leverage operational scale in targeted submarkets where it already has established local expertise. With a vertically integrated platform, Olympus is in an advantageous position to execute strategies efficiently, foster long-term value creation, and generate strong investment returns. This ability to drive operational efficiencies and leverage regional synergies speaks to the firm’s tactical approach to multifamily investments.
The appeal of Confluence is unmistakably reinforced by Durango’s profound affordability gap. With median home values topping $730,000 contrasted by a significant monthly cost advantage for renters, the community stands as a high-quality, accessible housing alternative in a market distinguished by its high entry barriers. Furthermore, a favorable rent-to-income ratio at Confluence makes it very attractive in the local market.
John Vu, Director of Acquisitions at Olympus Property, highlights the strategic merits of the acquisition by noting, “Durango has consistently demonstrated healthy supply-demand fundamentals, with strong rent-to-income dynamics and enduring appeal as both a lifestyle and workforce destination. The acquisition of Confluence reflects our strategic interest in high-barrier, high-quality markets where our local presence and operational depth position us to deliver durable results. The strength of the Three Springs master plan and the property’s connectivity to major employers and outdoor amenities make it an ideal long-term investment for our portfolio.”
Confluence’s strategic location near key economic drivers like Mercy Regional Medical Center and Fort Lewis College, coupled with its proximity to tourist and recreational hotspots, bolsters its stance in the market. The anticipated Mesa Park development, which will introduce an events center, amphitheater, and expanded regional trail network by 2027, is set to enhance the area’s appeal further. This development is just one more thread in the fabric of sustained community investment and vibrancy that makes this acquisition so promising for Olympus Property.