Oklahoma

CBRE Brokers Sale of Office Building in Tulsa

by Haisten Willis July 21, 2016

TULSA, OKLA. — CBRE has brokered the sale of 21 Lewis Plaza, a 58,934-square-foot office building in Tulsa. 21 LP LLC purchased the asset from Acron 21 Lewis Plaza LP for an undisclosed price. Mary Martin and Leslie Kirkpatrick of CBRE’s Tulsa office represented the seller. Kelly McKoy with McKoy Co. in Tulsa represented the buyer. Tulsa Retina Consultants PLLC will be occupying the entire second floor of 21 Lewis Plaza. The building is located at 2424 E. 21st St. near its intersection with South Lewis Avenue. 21 Lewis Plaza was 70 percent occupied at the time of sale to tenants including Oklahoma National Bank, G4s Secure Solutions Inc., River Parks Authority and Gilbert Audiology & Hearing.

July 21, 2016

country-village-apartments-norman-oklahoma

Loans Multifamily Oklahoma Texas

Old Capital Secures $2.8M Acquisition Loan for Country Village Apartments in Norman

by Haisten Willis July 15, 2016

NORMAN, OKLA. — Old Capital has secured a $2.8 million loan for the purchase of Country Village Apartments in Norman. The 20-year loan includes a 4.5 percent interest rate and a 30-year amortization schedule. Texas-based buyers acquired the 100-unit, semi-stabilized property at an 80 percent loan-to-value ratio.

July 15, 2016

Multifamily Oklahoma Seniors Housing Texas

Ziegler Closes $111M in Bond Financing for Construction of CCRC in Oklahoma

by Katie Sloan June 27, 2016

STILLWATER, OKLA. — Ziegler, a specialty investment bank, has arranged $111 million in tax-exempt bonds for Epworth Living at The Ranch, a continuing care retirement community (CCRC) in Stillwater, approximately 60 miles north of Oklahoma City and west of Tulsa. Local nonprofit operator Epworth Living is developing the 380,000-square-foot community on a 55-acre site near Oklahoma State University. When completed, The Ranch will consist of 114 independent living apartments, 23 independent living villas, 48 assisted living apartments, 20 memory support suites, and 40 skilled nursing beds. The Ranch was 70.1 percent pre-leased at the time of the bond issue. The bonds will be used to fund the construction and development of the community, refinance a $6.8 million predevelopment loan, fund interest for two years, establish debt-service reserve funds and pay a portion of issuance costs. Epworth Living is contributing $2 million in equity to the financing. The Weitz Company will serve as the construction manager for the project.

June 27, 2016

Office Oklahoma Texas

CBRE Negotiates Lease Renewal, Expansion for BOK Financial in Tulsa

by Haisten Willis June 22, 2016

TULSA, OKLA. — CBRE has negotiated a five-year lease renewal and expansion for the BOK Financial at Bank of Oklahoma Place at Southern Hills. BOK Financial will occupy 27,091 square feet following a 3,758-square-foot expansion at 5727 S. Lewis Ave. in Tulsa. BOK Financial has been a tenant of the property since 2005. BOK Financial is a regional financial services company based in Tulsa with more than 80 banking centers statewide. Mary Martin with CBRE’s Tulsa office represented the landlord, Allegiancy Houston LLC, in the lease transaction.

June 22, 2016

Loans Oklahoma Retail Texas

Franklin Street Secures $1.5M Refinance Loan for Cushing Plaza in Oklahoma

by Haisten Willis June 8, 2016

CUSHING, OKLA. — Franklin Street Capital Advisors (FSCA) has closed a $1.5 million refinance loan for Cushing Plaza, a 66,454-square-foot shopping center located in Cushing. Ben Miller and Casey Siggins of FSCA secured the loan on behalf of the owner, Lone Star Equities Inc. The 10-year loan includes a 4.5 percent fixed interest rate and a 20-year amortization schedule. Anchored by Cost Cutter, the 7.6-acre property is located at 2220 E. Main St. and is fully leased to tenants including Hibbett Sporting Goods, Stage Stores, Stanley’s Rent to Own and Compliance Advantage.

June 8, 2016

Multifamily Oklahoma Seniors Housing Texas

Greystone Secures $210M Sale of Seniors Housing Portfolio in Texas and Oklahoma

by Haisten Willis June 2, 2016

TEXAS and OKLAHOMA — Greystone Real Estate Advisors has closed the $210 million sale of an eight-property seniors housing portfolio in Texas and Oklahoma. Harrison Street Real Estate Capital and Bridgewood Property Co. sold the properties to Cardinal Bay, a private company based in Texas. Greystone represented the seller in the transaction. The properties are: • Village on the Park, Oklahoma City, 188 units • Carriage Inn, Bryan, Texas, 90 units • Carriage Inn, Conroe, Texas, 91 units • Village on the Park, Friendswood, Texas, 158 units • Village on the Park, Houston, 183 units • Carriage Inn, Huntsville, Texas, 81 units • Carriage Inn, Katy, Texas, 146 units • Carriage Inn, Lake Jackson, Texas, 102 units

June 2, 2016

Loans Multifamily Oklahoma Texas

Harborview Closes $4.3M Acquisition Loan for Multifamily Property Near Oklahoma City

by Haisten Willis June 2, 2016

EDMOND, OKLA. — Harborview Capital Partners has arranged a $4.3 million bank loan for the purchase of a 98-unit multifamily property located in Edmond, Okla. The loan features a one month Libor-based interest rate. This is the most recent of several deals Harborview has closed on behalf of the Missouri-based lender, and the second loan Harborview has closed for the California-based property owner this year. Jeff Fuchs and Andrew Eisen of Harborview’s New York headquarters negotiated the loan. The loan includes specified funds for exterior and interior capital upgrades to the property.

June 2, 2016

Industrial Oklahoma Texas

KBGE Engineering Opens Oklahoma Office

by Haisten Willis May 13, 2016

OKLAHOMA CITY — KBGE, an Austin-based civil engineering firm, has expanded operations beyond Texas, establishing its first out-of-state office in Oklahoma City. Located at 4045 NW. 64th St., Suite 415, the Oklahoma office serves clients throughout the state, providing civil engineering and land-development consulting services. Dean Koleada has been hired to lead the new office. Koleada is an Oklahoma native and long-time friend and colleague of the firm. Koleada is a graduate of the University of Oklahoma and brings more than 16 years of engineering experience to the position, having led the civil engineering effort for numerous types of land development and public infrastructure projects in Oklahoma and Texas. KBGE’s portfolio includes a mix of multifamily, mixed-use, public works, industrial, retail and office development projects. Clients include Transwestern, NLand Surf Park, Cielo Property Group, GroundFloor Development, Ryan Companies, LD&C Development & Construction, Natural Vitality, Rooms To Go, LCS Development and Advance Auto Parts.

May 13, 2016

Office Oklahoma Texas

M&M Arranges Sale of Office Building in Oklahoma City

by Haisten Willis April 12, 2016

OKLAHOMA CITY — Marcus & Millichap has arranged the sale of Mid America Business Park, a three-story, 84,373-square-foot office building located in Oklahoma City. Cody Payne of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Fort Worth-based private partnership. The buyer is a private investor utilizing a 1031 tax-deferred exchange. Ron Hebert of Marcus & Millichap’s Dallas office partnered with Payne on the sale. Tom Mann of the firm’s Tulsa office is Marcus & Millichap’s broker of record in Oklahoma. Built in 2002, the property is located at 7919 Mid America Blvd., a few miles from downtown Oklahoma City. The Veterans Administration and CNI Administration Services anchor the property and account for 65 percent of the gross leasable area. Other tenants include AAR Services, Deaconess Home Care and Edward Jones.

April 12, 2016

Oklahoma Retail Texas

GBT Realty Acquires Land for Retail Development in Oklahoma for $3.9M

by Haisten Willis April 7, 2016

ENID, OKLA. — GBT Realty Corp. has acquired an 11.3-acre retail site in Enid for the development of a 100,000-square-foot retail center. Situated across from Oakwood Mall, the site was formerly home to Walmart and a distribution center for the regional home and garden retailer Atwoods Ranch and Home. GBT acquired the site from Atwood’s Distribution LLC for $3.9 million. Construction is underway with the demolition of the existing distribution center.

April 7, 2016

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