FPA Multifamily Purchased Olympia Apartment Complexes

The firm acquired 283 total units across two properties for a combined $43.7 million.

Updated on Oct. 13, 2026 in Commercial

FPA Multifamily Purchased Olympia Apartment Complexes

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FPA Multifamily has finalized the acquisition of two apartment communities in Olympia, Washington. The transaction involved the 170-unit ReNew Evergreen and the 113-unit ReNew Rock Maple for a total purchase price of $43.7 million.

Why it matters

The acquisition represents a significant investment in the Olympia housing market. By rebranding the properties, FPA Multifamily aims to integrate these established complexes into its wider portfolio under new management.

The acquisition covers two properties with an average price of $154,417 per unit. ReNew Evergreen occupies 9 acres, while the ReNew Rock Maple complex sits on 13 acres.

The players

FPA Multifamily

This private equity firm specializes in the acquisition and management of multifamily residential properties.

Bender Equities

This entity served as the seller for the two Olympia apartment communities.

Institutional Property Advisors

This brokerage firm provides investment sales and capital services for institutional investors.

Trinity Property Consultants

This company provides professional management services for residential apartment communities.

The details

Institutional Property Advisors facilitated the deal, which saw the transfer of the assets from seller Bender Equities. The properties, originally developed decades ago, are now under the management of Trinity Property Consultants.

1973: The year ReNew Evergreen first opened.
2004: The year ReNew Rock Maple first opened.
September 2026: Chambers Reserve traded for $53 million.
October 13, 2026: News of the acquisition was published.

Culture Shift

This investment reflects a broader pattern of institutional capital flowing into established suburban apartment markets. It highlights the continued appetite for regional multifamily assets despite fluctuations in larger economic transaction volumes.

Residents of the re-branded ReNew Evergreen and ReNew Rock Maple communities will now interact with Trinity Property Consultants for property management. The transition to new ownership typically brings changes in leasing operations and ongoing maintenance service standards.

The takeaway

Large-scale institutional acquisitions often lead to standardized management practices across older apartment complexes. Residents should watch for upcoming notices regarding potential operational changes or new portal interfaces for rent payments.