Olympus Property has acquired The Mosaic, a 440-unit luxury high-rise apartment community located in downtown Dallas. The Mosaic, which is downtown Dallas’ largest loft apartment project, is composed of two connected residential towers consisting of 21 and 32 stories respectively, with a nine-story parking structure attached.
The buildings were originally home to the Fidelity Union Life Insurance Company. The 21-story tower was built in 1952 and the 31 story second tower was added in 1962. In 2006 and 2007, Mosaic was completely renovated and redeveloped at a cost of more than $90-million into 440 luxury apartment units and rechristened as The Mosaic in honor of the green tile overlaying the facade.
The development features a 120-foot infinity pool and spa overlooking the Dallas cityscape, an outdoor movie theater, a gas fire pit with an outdoor kitchen, a fitness center, a lounge room, billiards area, and a cigar lounge/poker room.
The property’s floor plans include 285 one-bedroom one-bath units and 148 two-bedroom two-bath units. Additionally, it contains 7 penthouse units with one, two and three bedroom floor plans. Select units feature exposed brick and ceilings with polished concrete floors providing a modern loft-style aesthetic. Kitchen cabinets are stained wood with dark granite countertops and stainless steel Whirlpool appliances.
Olympus Property co-founder Anthony Wonderly stated, “Mosaic is a huge milestone for Olympus Property. The Mosaic is our first high-rise and located close to our corporate headquarters. We know this market extremely well and feel strongly about the growth and revitilization in downtown Dallas.”
Olympus has offices in Dallas and San Francisco. Founded in 1992, the company owns and manages over 9,000 apartments. Terms of this transaction were not disclosed.