Exact Capital Acquires Affordable Housing Community in Oklahoma City for $59M

OKLAHOMA CITY — New York-based development and investment firm Exact Capital has acquired Isola Bella Apartments, a 77-building affordable housing community located at 6303 NW 63rd St. in Oklahoma City, for $59 million. Isola Bella’s unit mix comprises 451 one-bedroom units, 280 two-bedroom apartments, 16 three-bedroom residences, 23 four-bedroom dwellings and a superintendent’s unit. According to Apartments.com, amenities include a pool, fitness center, business center, clubhouse and onsite laundry facilities. The new ownership will renovate and rebrand the property as Alora Apartments. Following the renovation and recapitalization of the property with Low-Income Housing Tax Credits, units will be reserved for renters earning up to 60 percent of the area median income.