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.
OKLAHOMA CITY — Locally based developer The Medallion Group has broken ground on The Stacks, a 34,000-square-foot retail project in Oklahoma City. The site is located just east of Garth Brooks Boulevard on NW 10th Street. Tenants that have already committed to the development include Mediterranean restaurant Cava, fast-casual eatery Pickleman’s and locally based food-and-beverage concept The Surf Bar. Additional retail and medical users will be announced later this year. The Stacks is scheduled to open in the first half of 2024.
TULSA, OKLA. — An affiliate of Dallas-based SkyWalker Property Partners has sold a 20,160-square-foot industrial flex facility in Tulsa. The building at 3717 S. Sheridan Road sits on 1.7 acres and was vacant at the time of sale. Michael Schnake and Ward Seibert of Oil Capital Commercial Real Estate Services represented SkyWalker in the transaction. The buyer, local sign maker manufacturer Gravley Holdings LLC, was self-represented.
TULSA, OKLA. — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of The Broadmoor Retirement Community, a 124-unit independent living facility in Tulsa. Built in 1986, the age-restricted property features studio, one- and two-bedroom units with an average size of 510 square feet. Casey Litsey and C.J. Swanson of TMG represented the seller, and Paul Yazbeck of TMG procured the buyer. Both parties requested anonymity.
SHAWNEE, OKLA. — Marcus & Millichap has brokered the sale of Belfair of Shawnee, a 60-bed seniors housing property located on the eastern outskirts of Oklahoma City. The 31,000-square-foot property was built in 2013 and offers memory care services. Rod Llanos of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. Steve Greer of Marcus & Millichap assisted in closing the deal as the broker of record .
BARTLESVILLE, OKLA. — Locally based investment firm Copper Tree Inc. has acquired Price Tower, a historic building in Bartlesville, about 45 miles north of Tulsa. Designed by Frank Lloyd Wright, the 19-story building was originally constructed in 1956 as the headquarters for H.C. Price, a manufacturer of pipelines and machinery for the oil and gas industry. Copper Tree plans to implement a capital improvement program to restore the building’s infrastructure and reposition it as a lifestyle hub.
BIXBY, OKLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $14.7 million in joint venture equity for a 161-unit, build-to-rent residential community in Bixby, a southern suburb of Tulsa. The development will offer one-bed duplexes and two-, three- and four-bedroom farmhouse-style homes. Residences will feature private garages and backyards, and communal amenities will include a pool, fitness center and a clubhouse. Justin Shuart and Travis Headapohl of MMCC structured the equity on behalf of the developer, a partnership led by ACRE Development Partners.
TULSA, OKLA. — Dallas-based Mohr Capital has acquired 20 acres at the corner of 71st and Elwood streets in Tulsa for the development of a 50,000-square-foot retail project that will be branded Tulsa Marketplace. Outdoor apparel and equipment retailer REI will anchor the center with a specialty, build-to-suit store, and Mohr Capital will target five national credit tenants to round out the roster. Completion is slated for spring 2024.