OKLAHOMA CITY — RRA Capital, a commercial bridge lender with offices in Phoenix and New York City, has provided a $20.6 million acquisition loan for a 252-unit apartment community in Oklahoma City. The property at 11239 Pennsylvania Ave. was built in the 1970s and offers one- and two-bedroom units. The borrower, GreenLite Holdings, plans to implement a value-add program that will upgrade the pool and clubhouse and install new appliances, flooring, lighting, plumbing and windows in the unit interiors.
BROKEN ARROW, OKLA. — Dallas-based developer Berkshire Lane Development Partners (BLDP) will build a 182-unit garden-style multifamily project in Broken Arrow, a southeastern suburb of Tulsa. Berkshire @1Eleven will offer one- and two-bedroom units with stainless steel appliances, quartz countertops, tile backsplashes and individual washers and dryers. Amenities will include a pool, fitness center, and open green space. The first units are expected to be available for occupancy in summer 2025.
TULSA, OKLA. — CBRE has brokered the sale of a 178,150-square-foot industrial building in Tulsa. The single-story building was constructed on a 60-acre site in 2018 and features 25.6-foot clear heights and a 250-space parking lot. Matt Klimisch, David Glasgow, Alex Powell, Kurt Giller and Kerry Shields of CBRE represented the seller, Titan Sports & Performance Center LLC, in the transaction. Craft Capital LLC purchased the asset for $14.9 million.
OKLAHOMA CITY — Dallas-based Gatehouse Capital has topped out a 132-room boutique hotel that is part of Phase I of OAK, a 20-acre mixed-used project in Oklahoma City. The first phase also includes 135,000 square feet of retail and restaurant space, 320 apartments and a 7,000-square-foot central green space. Phase II will feature 100,000 square feet of office space and an additional 85,000 square feet of retail space. Full completion is slated for next September. Veritas Development is the master developer of OAK.
DURANT OKLA. — Safe & Green Holding Corp. a designer and fabricator of modular structures, will develop a 1.1 million-square-foot manufacturing facility in Durant, located just north of the Oklahoma-Texas border. The site spans 114 acres on McLean Avenue. Approximately 120,000 square feet will be used for manufacturing, while the remaining space will support distribution, cold storage and other similar operations. The project team is currently in the design phase. A target completion date was not disclosed.
TULSA, OKLA. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 110-unit seniors housing community in Tulsa. Completed in 2017, the unnamed property offers assisted living and memory care services as well as Class A amenities. A national investor and its operator, both based in Seattle, sold the asset to an undisclosed buyer. Alex Florea, Kyle Hallion and Kory Buzin led the transaction for Blueprint.
OKLAHOMA CITY — Atlanta-based developer Seefried Industrial Properties, in partnership with Truist Securities, is underway on construction of an 842,043-square-foot, build-to-suit project in Oklahoma City. The new facility will act as a hub for depot support for the military engines of Pratt & Whitney, which are maintained at Tinker Air Force Base. The facility, which is expandable to 942,000 square feet, will feature an 86,000-square-foot office component, and future development plans include an adjacent, 100,000-square-foot training facility. In addition, the main warehouse will offer 40-foot clear heights, up to 120 dock-high doors, six grade-level doors, 515 auto parking stalls (including EV charging spots) and 103 trailer spaces. Construction is slated for a second-quarter 2024 completion.
OKLAHOMA CITY — Lument has arranged a $10.7 million loan for the acquisition of Bellevue Health & Rehabilitation, a 119-unit, 150-bed skilled nursing facility in Oklahoma City. The loan carries a five-year term, with a minimum of two years of interest-only payments, 25-year amortization schedule and a fixed interest rate. Bill Wilson of Lument arranged the loan through an undisclosed community bank. The undisclosed borrower will use a portion of the proceeds to fund capital improvements.
OKLAHOMA CITY — LSC Development has acquired a 161,190-square-foot retail building formerly occupied by Sears in Oklahoma City with plans to redevelop the property into a mixed-use facility with retail self-storage uses. The site is adjacent to a Walmart Neighborhood Market and across the street from the 31-acre INTEGRIS Southwest Medical Center. Michael Brewster, Drew Quinn, Brad Peterson, El Warner and Charley Simpson of Colliers represented the undisclosed seller in the transaction.
TULSA, OKLA. — Miami-based hospitality brokerage firm Park-Equities has negotiated the sale of a 96-room hotel in Tulsa. The property originally opened as a Residence Inn and was operated under the Motel 6 brand at the time of sale. SL Capital purchased the property from an undisclosed seller. Park-Equities brokered the deal in conjunction with Jennifer Stein Real Estate.
Newer Posts