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
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.
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.
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.
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.
OKLAHOMA CITY, OKLA. — Sam’s Club will officially open the doors of its newest location Thursday, March 3, in Oklahoma City. Doors open at the 4101 N. May Ave. location at 8 a.m. Prior to the public grand opening, the company will host a business appreciation event for customers. Walmart founder Sam Walton opened the first Sam’s Club in 1983 in Midwest City, Okla., with the idea that small business owners deserved the same access to warehouse prices as big businesses. More than 650 Sam’s Club locations are in operation today.
OKLAHOMA CITY, OKLA. — GBT Realty Corp. has acquired 30 acres in Oklahoma City to develop the first phase of a $50 million development known as The Market at Czech Hall. The project is a 450,000-square-foot regional neighborhood center. Phase one includes the construction of 180,000 square feet of retail, along with seven available outparcels, with the first tenant expected to open fall 2016. GBT purchased the property on Jan. 11 for $3 million. The development team includes engineering firm Crafton Tull and MJM Architects.
OKLAHOMA CITY AND EULESS, TEXAS — Steadfast Apartment REIT has acquired apartment communities in separate transactions in Oklahoma City and metro Dallas totaling 654 units for an aggregate purchase price of $88.5 million. Steadfast Apartment REIT entered the state of Oklahoma with the purchase of The Shores, a 300-unit, Class A apartment community that was constructed in 2013 on 22 acres. The complex includes a clubhouse/leasing center, 11 three-story apartment buildings and 12 two-story townhome buildings boasting one-, two- and three-bedroom configurations. Apartment homes range from 649 to 1,288 square feet with average in-place rents of $1,030. The Shores was 93.7 percent occupied at the time of sale. Monticello by the Vineyard is located in Euless, 25 miles from both Dallas and Fort Worth. Built in 2002, Monticello features 21 three-story apartment buildings, five garage buildings and a leasing office/clubhouse on approximately 20 acres. The property offers 354 one-, two- and three-bedroom apartment homes in 21 different layouts averaging 993 square feet. Average in-place rents are $1,245 and the community was 96.9 occupied at the time of sale.
STILLWATER, OKLA. — Progress Builders has selected Greystar Student Living to manage Progress405, a new apartment development in Stillwater. The 544-bed student housing community will be located at 1520 N. Boomer Road at the cross streets of Boomer Road and Bennett Drive. The new development is within walking distance of the Oklahoma State University campus and Boone Pickens Stadium. Progress405 will include one-, two- and four-bedroom apartment homes ranging in size from 548 to 1,640 square feet. Units will be fully furnished and will feature private bedrooms and bathrooms. Interior finishes will include quartz countertops, stainless steel appliances and wood-style plank flooring. The project’s community amenities will include a clubhouse with a lobby fireplace, study areas with Wi-Fi, a fitness center with locker rooms and showers, tanning beds, an entertainment lounge with billiards tables, sand volleyball court, a zero-entry swimming pool and a sun deck with cabanas and grilling stations. The pet-friendly community is close to Stillwagon Dog Park and Boomer Lake. Construction is expected to be completed by fall 2016.
OKLAHOMA CITY — Mortgage banking firm Q10 | Professional Mortgage Co. has arranged a $7 million permanent loan for Chatenay Square, a shopping center in the southwest submarket of Oklahoma City. A life insurance company provided the capital. The borrower was not disclosed. Chatenay Square comprises 113,739 square feet and is anchored by a supermarket. Bryson G. Thomason, president, and Franklin “Trey” Warren III, vice president, led the transaction for Q10.