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Oklahoma

36N-Tulsa
DevelopmentMultifamilyOklahomaTexas

Pennrose, THA to Develop $190M Affordable Housing Project in Tulsa

by Taylor Williams

TULSA, OKLA. — A public-private partnership between Pennrose and the Tulsa Housing Authority (THA) will develop 36N, a $190 million, 545-unit mixed-income residential project. The partnership will redevelop the existing 271-unit Comanche Park Apartments and construct an additional 274 units from the ground up as part of a larger revitalization initiative known as Envision Comanche. The development will also feature single-family homes and a mix of commercial and civic uses, including a grocery store, urban farm and q wilderness area. Vertical construction for Phase I of 36N will begin later this summer, with full completion slated for 2028.

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LoansMultifamilyOklahomaTexas

MMCC Arranges $6.7M Loan for Refinancing of Multifamily Property in Harrah, Oklahoma

by Taylor Williams

HARRAH, OKLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.7 million loan for the refinancing of Prairie Breeze Townhomes, a 56-unit multifamily property in Harrah, an eastern suburb of Oklahoma City. The property was built in 2013 and consists entirely of three-bedroom units. Robert Bhat of MMCC originated the financing. The direct lender and borrower were not disclosed. The loan carries 12 months of interest-only payments and a 30-year amortization schedule.

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HospitalityLoansOklahomaTexas

Largo Capital Arranges $10M in Financing for West Texas, Oklahoma City Hotels

by Taylor Williams

BROWNWOOD, TEXAS AND OKLAHOMA CITY — Largo Capital, a financial intermediary based in Upstate New York, has arranged $10 million in financing for a pair of hotels in Texas and Oklahoma. The undisclosed borrower used the proceeds to refinance a 71-room La Quinta Inn & Suites in Brownwood, about 150 miles southwest of Fort Worth, and to acquire a 72-room Hampton Inn hotel in Oklahoma City. Katie Vivian of Largo Capital placed the fixed-rate, nonrecourse debt through an undisclosed direct lender.

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AcquisitionsHealthcareOklahomaRetailTexas

Marcus & Millichap Arranges $4.7M Sale of Two Urgent Care Clinics in Oklahoma

by Taylor Williams

ELK CITY AND ENID, OKLA. — Marcus & Millichap has arranged the sale of two retail properties that are net leased to urgent care clinics in Oklahoma for a combined price of $4.7 million. The facilities, both of which are operated by Xpress Wellness, are located in Elk City and Enid, about 100 miles west and north of Oklahoma City, respectively. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed limited liability companies, in the transactions.

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Campus-Lodge-Norman
AcquisitionsMultifamilyOklahomaStudent HousingTexas

Marcus & Millichap Brokers Sale of 192-Unit Student Housing Property Near University of Oklahoma

by Taylor Williams

NORMAN, OKLA. — Marcus & Millichap has brokered the sale of Campus Lodge, a 192-unit student housing property located about two miles from the University of Oklahoma campus in Norman. Built in 2004, Campus Lodge comprises 19 buildings that house 768 beds in three- and four-bedroom layouts. Amenities include a pool, sand volleyball court, basketball court, outdoor grilling and dining stations and a coffee bar. Patrick Mullowney and Joel Dumes of Marcus & Millichap represented the seller, The Collier Cos., in the transaction. The duo also procured the buyer, Denver-based investment firm Cardinal Group. Campus Lodge was 97 percent occupied at the time of sale.

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DevelopmentHealthcareOklahomaTexas

Bremner Real Estate Breaks Ground on 48,000 SF Healthcare Project in Norman, Oklahoma

by Taylor Williams

NORMAN, OKLA. — Indianapolis-based developer Bremner Real Estate has broken ground on the Oklahoma University Health Stephenson Cancer Center at Norman Regional, 48,000-square-foot healthcare project that will be located just south of Oklahoma City. The facility, which will serve patients from Norman Regional Health System and OU Health, will feature an underground tunnel connection to the main hospital, 24 infusion bays, exam rooms and physician office spaces. Completion is slated for 2025.

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BancFirst-Tower-Oklahoma-City
DevelopmentOfficeOklahomaTexas

BancFirst Completes Renovation of 507,038 SF Office Building in Oklahoma City

by Taylor Williams

OKLAHOMA CITY — BancFirst has completed the renovation of its namesake tower in downtown Oklahoma City. Located at 1000 N. Broadway, BancFirst Tower is a 36-story, 507,038-square-foot building that was originally constructed in 1971. Renovations included modernizing the exterior public plaza and amenity spaces, including the lobby and underground concourse. Bockus Payne served as the architect of the project, which began in 2020. Other project partners included Wallace Engineering, Alvine Engineering and Smith Roberts Baldischwiler.

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Leasing ActivityOklahomaRestaurantRetailTexas

Veritas Adds Three New Retailers at Oklahoma City Mixed-Use Development

by Taylor Williams

OKLAHOMA CITY — Veritas Development has added three new retailers to the tenant roster at OAK, a 20-acre mixed-use project in Oklahoma City. Kitchenware and home furnishings retailer Williams Sonoma will open a 5,500-square-foot store. Tommy Bahama Marlin Bar will open an 8,000-square-foot restaurant and bar, and Pottery Barn has committed to a 12,420-square-foot space. The retailers, which join tenants such as Mesero, RH, Arhaus and Capital Grille, all plan to debut in fall 2024.

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Leasing ActivityOfficeOklahomaTexas

CBRE Opens 9,891 SF Office at Santa Fe Crossings in Downtown Tulsa

by Taylor Williams

TULSA, OKLA. — CBRE has opened a 9,891-square-foot office at Santa Fe Crossings, a located at 521 E. 2nd St. in downtown Tulsa. The Dallas-based real estate giant is relocating its Tulsa office from 1437 South Boulder Ave. to the seventh floor of the 134,978-square-foot building. The office is part of CBRE’s WorkPlace360 program and features various social spaces, several individual and group workspaces and a boardroom for large-format internal meetings or presentations with clients and visitors.

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Legend-Park-Lawton
AcquisitionsMultifamilyOklahomaTexas

Cushman & Wakefield Brokers Sale of 360-Unit Legend Park Apartments in Lawton, Oklahoma

by Taylor Williams

LAWTON, OKLA. — Cushman & Wakefield has brokered the sale of Legend Park, a 360-unit apartment community in Lawton, located about 90 miles southwest of Oklahoma City. Built between 2010 and 2012, Legend Park offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, basketball court, dog park, business center, playground and outdoor grilling and dining areas. Martin Bynum, Craig Hey and Stephen Pestinger of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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