Hollywood, CA

FORT WORTH, Texas, March 17, 2023 /PRNewswire/ -- Olympus Property is pleased to announce the acquisition of Angelene Apartments, a 179-unit apartment community located in West Hollywood, California. Established in 1992 with a steadfast vision of becoming a leader in the multifamily real estate industry, Olympus Property boasts a wealth of experience and a hands-on approach throughout the investment process. The company's portfolio represents over 27,000 units under ownership and management. Olympus Property is currently invested in fourteen states including Arizona, California, Colorado, Florida, Georgia, Idaho, Montana, New Mexico, North Carolina, Tennessee, Texas, Utah, Wyoming, and Kentucky.

Angelene Apartments offers a rare generational opportunity to own a mixed-use Class A community in one of Los Angeles' most highly coveted neighborhoods. Built in 2016, the property is located in the epicenter of the world's entertainment capital and is within a three-minute walk of over 1.5 million square feet of restaurants, bars, and shops along Melrose Avenue. Residents have incredible access to Los Angeles' most prominent employment centers including Hollywood/West Hollywood, Beverly Hills, Century City, Culver City, Westwood, Santa Monica, and Downtown LA. The project is anchored by 33,500 sq. ft. of ground floor retail currently occupied by Sprouts Farmers Market, one of the fastest growing national retailers.

The acquisition of Angelene Apartments is an exciting opportunity to own and operate a newer vintage asset in one of the region's most supply constrained markets. "Angelene will be our first acquisition in the highly sought after West Hollywood market," notes Chase Bennett, Executive Managing Director at Olympus Property. "It's an exceptionally built property paired with strong market fundamentals, as well as an extremely limited development pipeline. This asset will continue to create value for our investors and Olympus for years to come."

This state-of-the-art community distinguishes itself with an extensive hotel-style amenity package including a pool deck and clubhouse overlooking , an abundance of outdoor common areas, and a fully equipped fitness center. Apartment homes feature open living spaces and large windows with well-designed and spacious floorplans in a mix of studio, one-, two-, and three-bedroom configurations. Interiors include a curated list of high-end amenities including stainless-steel appliances, quartz countertops, modern cabinetry, 9 ft. ceilings, full-size stackable washers and dryers, and hardwood-style plank flooring.

, , and of Berkadia Institutional Solutions completed the sale on behalf of the institutional seller. Additionally, of Berkadia's office arranged acquisition financing through Freddie Mac on behalf of Olympus Property.

To learn more about Olympus Property or for media inquiries, please contact at 325-829-8844 or , or at 415-686-0232 or .

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Whiteout conditions shuttered roads in the mountains, while a dusting of snow on beaches brought residents out to marvel.

The hills above San Jose, Calif., on Friday.Credit...Jim Wilson/The New York Times

A rare and powerful winter storm sweeping the West Coast is battering areas unaccustomed to snow and wintry mix, bringing parts of Portland, Ore., to a halt before moving south toward California. The varied precipitation, ranging from rain to snow to graupel, a slushier version of snow, was met with a mix of distress and marvel: Whiteout conditions shuttered roads in the mountains and stranded drivers, while beaches in areas like Santa Cruz, Calif., received a light dusting.

Conditions were expected to worsen through Friday with strong winds and heavy snow over the Sierra Nevada and the Transverse Ranges in Southern California. Officials are also concerned about flooding across Ventura and Los Angeles Counties. But Californians looked for delight — and snowballs — where they could.

The view in Pine Mountain Club, Calif., a community that is surrounded by the Los Padres National Forest.

A dusting in the hills above San Jose, Calif., provided an opportunity for snowball making and selfies.

A transformed landscape in Angwin, in California’s Napa Valley.

Sweeping away the rainwater in front of a shop along the Venice Beach Boardwalk in Los Angeles.

The now snow-capped hills above San Jose.

Part of Mount Tamalpais State Park, just north of the Golden Gate Bridge, was closed for snow. The park warned of sleet and slick trails.

The Hollywood sign is seen through clouds in Los Angeles. Meteorologists reported snow or graupel falling near the sign, a rare sight.

Atziel Guzman, right, played in the snow with his father, Rafael Guzman, in Angwin, Calif., in Napa County.

A dusting of snow on vineyards in Calistoga in the Napa Valley.

A snow-covered road in the Angeles National Forest near La Cañada Flintridge, Calif.

A resident skiing at Russian Ridge Open Space Preserve, a nature preserve in San Mateo County, Calif.

A flurry of snow fell on homes in the San Bernardino Mountains.

People walking along a snow-covered stretch of Twin Lakes State Beach in Santa Cruz, Calif.

A snow plow truck driving along the Angeles Forest Highway near La Cañada Flintridge.

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Dennis Quaid on moving Hollywood to Texas: 'It's a business thing'

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After joining a number of prominent Hollywood celebrities in a push to move productions from California to Texas, "The Parent Trap" and "On a Wing and a Prayer" actor Dennis Quaid expanded on what makes the Lone Star State so great for movies.

"I'm an independent. This is not really a blue or red state issue. It's a business thing, and bringing filmmaking back to Texas," Quaid said on "Varney & Co." Tuesday.

"We want to bring them back, make it a really business-friendly place to be and not be any kind of welfare program or government subsidized program," he continued, "but actually, for Texas to get a return on its investment."

Quaid is joining the "Good for Texas" campaign along with fellow industry names like Owen Wilson, Billy Bob Thornton, Woody Harrelson, Matthew McConaughey and Glen Powell to convince Texas voters to pass House Bill 3600, which would provide tax credits and rebates for multimedia productions.

‘HAPPY DAYS’ STAR SCOTT BAIO DITCHES CALIFORNIA FOR ‘FANTASTIC’ FLORIDA: ‘WHAT AMERICA WAS LIKE’

Texans are getting ready to vote on the proposal Wednesday – and Quaid explained why constituents should check the "yes" box.

"We hardly make movies in California anymore because it costs so much money, and there's so many regulations. It's tough," the actor said. "About 10 years ago, I made a lot of really great movies there and they had an incentive program… we want to bring that back to Texas and make it a little bit more business-friendly to do movies in Texas."

Even though Hollywood, California, has been home to the movie industry and culture for decades, Quaid said he recently moved to Tennessee while noting it isn’t the same town he knew in the 1970s.

"But Texas is," he said. "There's a lot of people that might think that the incentive goes out of the state, that goes to Hollywood producers or actors like me, but the money actually gets spent in the state and goes to pay carpenters, painters."

"The vote is tomorrow," Quaid added, "and we'd love to see it pass."

Last week, the actor joined "Jesse Watters Primetime" where he spotlighted this opportunity in Texas because there are a "lot of people" there, and having money to pay for crew members like carpenters, painters, hotel workers and others will "rev up the economy there."

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"Texas did a really good job at taking a big share of the tech industry away from Silicon Valley. You go down to Austin and you can see that really clearly," Quaid told Watters. "And the same thing can be done with movies and television shows. It's a great place to shoot."

"Think of the California gold rush, you know? It's like a few people did strike it rich, but the people who really made money were the shopkeepers and people selling shovels and spades and stuff like that who were doing other things besides mining for gold. And that's kind of what happened here."

What’s the deal with Hollywood?

Let’s start with the bad news: Hollywood can be pretty disappointing. Yes, there are still some movie studios here, and yes, there’s some worthwhile history. But it’s probably not the Tinseltown paradise you’re expecting: Hollywood is basically just a district in L.A. with a lot less glitz and moviemaking magic than you’d hope for and a lot more decay and traffic.

But here’s the good news: Hollywood is having a bit of a moment right now. High-end celebrity hangouts and hotel bars feel right at home with tucked-away cocktail bars and bespoke coffee shops—and there seem to be more and more by the day.

Where exactly is Hollywood?

Hollywood is centrally located within Los Angeles, served by the 101 freeway and multiple Metro B Line stops. The sizable area greets the scenic Hollywood Hills to the north, as well as Universal Studios just on the other side of the hill; stylish West Hollywood and the eclectic Fairfax District to the west; lively Koreatown and adorable Larchmont Village to the south; and a slew of neighborhoods to the east, including East Hollywood, Thai Town and Los Feliz.

Is Hollywood part of Los Angeles?

Yes, Hollywood is simply a neighborhood within the City of Los Angeles, and has been since 1910.

What will you find in Hollywood?

Well, you know, other than disappointment: the sort of big-name attractions you’ve seen in movies and on TV, including the Walk of Fame, the Chinese Theatre, Paramount Studios and the iconic Hollywood Sign. If you insist on seeing some of the most touristy landmarks, just keep it quick; your time is much better spent elsewhere in L.A.

But there are also a few less-touristy pockets, most notably an actually-worth-visiting row of restaurants and bars on Cahuenga Boulevard and its parallel streets, between Hollywood and Sunset Boulevards.

If you only do one thing

See a show at the Hollywood Bowl—assuming it’s between roughly May and October. The rest of the year, a screening at one of the local movie palaces would top our list.

A rare weather phenomenon swept through California this past week, bringing snowcapped mountains behind the iconic Hollywood sign and more than 12 feet of snow to California's Sierra Nevada.

"It’s like once-in-a-generation," said Ryan Maue, a meteorologist and former NOAA chief scientist.

This was the first Blizzard warning since 1989 for the mountains of Los Angeles and Ventura counties.

The winter storm that blew through California on Feb. 4, 1989, was the fifth major snowstorm to hit the Los Angeles area since 1932 during the Great Depression. More than 30 years had passed since the mountains of Los Angeles and Ventura counties were under a Blizzard Warning.

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"Not only were you getting significant snowfall in areas that already see snow, you were also seeing snowfall on lower elevations in Southern California, which is super rare," said Bianca Feldkircher, a meteorologist for the National Weather Service.

Here are some of the remarkable images captured of the snowstorm that shocked residents across Southern California.

The Hollywood sign stands in front of snow-covered mountains after another winter storm hit Southern California on March 01, 2023 in Los Angeles, California. (Photo by Mario Tama/Getty Images)

Motorists drive along a Los Angeles freeway with the snow-capped San Bernardino Mountains seen in the distance in Los Angeles, California, on March 2, 2023. (Photo by FREDERIC J. BROWN/AFP via Getty Images)

Snow-covered mountains provide a backdrop for the Los Angeles Basin, from the mountains to downtown to the sea on Wednesday, Mar. 1, 2023. (Luis Sinco / Los Angeles Times via Getty Images)

Snow blankets the San Gabriel Mountains as seen from Huntington Harbour in Huntington Beach, amidst gusty wind, intermittent rain and sleet and cloudy skies after historic rain and snow dumped on Southern California Wednesday, March 1, 2023. (Allen J

Robert Hallmark, who says that this is the worst snowstorm of his 31 years living here, clears snow at his home as residents throughout the San Bernardino Mountains continue to be trapped in their homes by snow on March 1, 2023 in Running Springs, Ca

General views of Griffith Observatory and the Hollywood foothills against a snow-draped Mount Wilson after a winter storm system passes on March 01, 2023 in Los Angeles, California. (Photo by AaronP/Bauer-Griffin/GC Images)

Snow-covered mountains provide a backdrop for the Los Angeles Basin, from the mountains to downtown to the sea on Wednesday, Mar. 1, 2023. (Luis Sinco / Los Angeles Times via Getty Images)

Cars are lined up after people parked on the side of the freeway to walk and play in the snow along Highway 14 in Los Angeles County on February 26, 2023 near Acton, California. (Photo by Mario Tama/Getty Images)

A person gets a high-angle view from the Walt Disney Concert Hall as they look out over the snow-capped San Gabriel mountains at sunset after historic rain and snow dumped on Southern California Wednesday, March 1, 2023 in Los Angeles. (Allen J. Scha

A vehicle is abandoned along a highway as residents throughout the San Bernardino Mountains remain trapped in their homes on March 1, 2023 near Running Springs, California. (Photo by David McNew/Getty Images)

The open sign is still on at a business nevertheless shut down by the weather as residents throughout the San Bernardino Mountains remain trapped in their homes on March 1, 2023 in Running Springs, California. (Photo by David McNew/Getty Images)

The San Gabriel Mountains are seen in the distance and rain falls over the cities of the San Bernardino Valley as residents throughout the San Bernardino Mountains remain trapped in their homes on March 1, 2023 in Running Springs, California. (Photo

With no customers in sight, a gas station is one of the few businesses that remains open in the mountains though gas supplies are becoming limited as residents throughout the San Bernardino Mountains continue to be trapped in their homes by snow on M

Snow-covered mountains provide a backdrop for the Los Angeles Basin, from the mountains to downtown to the sea on Wednesday, Mar. 1, 2023. (Luis Sinco / Los Angeles Times via Getty Images)

Snow capped mountains stand on the skyline behind a view of the Hollywood sign following heavy rain from winter storms, as seen from the Kenneth Hahn State Recreation Area, on March 2, 2023, in Los Angeles, California. (Photo by PATRICK T. FALLON/AFP

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A Cal Trans employee turns away a driver as they attempted to gain access to Wrightwood on Highway 2 near Highway 138 Wednesday, Mar. 1, 2023. (Photo by Will Lester/MediaNews Group/Inland Valley Daily Bulletin via Getty Images)

A residential street near a school is seen as residents throughout the San Bernardino Mountains remain trapped in their homes on March 1, 2023 in Running Springs, California. (Photo by David McNew/Getty Images)

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FOX Weather and the Associated Press contributed to this report.