TULSA, OKLA. — Aristocrat Gaming, a manufacturer of slot machines and similar products, has signed a 137,500-square-foot lease for its new headquarters at 15336 E. Admiral Place in Tulsa. The property is under construction, with the warehouse component scheduled for completion this winter and the office component slated for a summer 2022 delivery. Dwayne Flynn and Ryan Shaffer of CBRE represented Aristocrat Gaming and the landlord, Tulsa-based Miller Investments & Properties, in the lease negotiations.
TULSA, OKLA. — Berkadia has arranged a $5.6 million HUD-insured loan for the refinancing of a 54-unit, 111-bed skilled nursing facility in Muskogee County, located southeast of Tulsa. The property was originally constructed in 1974 and features 58 ventilator beds. Historical occupancy has averaged 75 percent. Jay Healy of Berkadia originated the loan on behalf of the undisclosed borrower through HUD’s 232/223(f) program. The name and address of the property were not disclosed.
TULSA, OKLA. — Stan Johnson Co., a Tulsa-based brokerage firm focused on net-leased assets, has negotiated the $13.7 million sale of a portfolio of 10 restaurant properties totaling 25,643 square feet that are leased to Taco Bueno. The properties are located in various cities in Texas and Oklahoma. Josh Pardue of Stan Johnson Co. represented the seller, New York-based private equity firm U.S. Realty Advisors LLC, in the transaction. The buyer was Dallas-based Centric Capital Partners. The deal traded at a cap rate of 7.22 percent.
PRYOR, OKLA. — Trident Multifamily, an investment firm based in North Texas, has sold The Park @12Twenty, a 100-unit apartment complex located in the eastern Tulsa suburb of Pryor. The sales price was $6.5 million. The property was built on 8.3 acres in 1974, renovated in 2019 and had an occupancy rate of 96 percent at the time of sale. Mike Marrara, David Dirkschneider, William Forrest and Chris O’Hare of Capstone Apartment Partners represented Trident Multifamily in the transaction and procured the buyer, Adventurous REI.
SHAWNEE, OKLA. — Marcus & Millichap has brokered the sale of Bryan Street Storage, a 296-unit self-storage facility in Shawnee, an eastern suburb of Oklahoma City. The property, which offers 47,640 net rentable square feet, was built on 3.8 acres in 2009 and subsequently expanded in 2011 and 2020. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and buyer, both of which requested anonymity, in the transaction. Mark McCoy of Marcus & Millichap assisted in closing the deal as the broker of record.
TULSA, OKLA. — Saint Francis Health System will undertake a $250 million renovation and expansion of its Saint Francis Hospital South campus in Tulsa. The healthcare provider has tapped Cushman & Wakefield’s project development and services team to lead the project. Specifically, the team plans to deliver a 51,000-square-foot renovation of imaging spaces and four operating rooms and a 232,600-square-foot expansion that will add four operating rooms, a six-story tower with 124 patient rooms and a 600-space parking garage. Completion of the renovation and expansion is slated for March 2025.
NORMAN, OKLA. — Colliers Mortgage has provided a $10.5 million Fannie Mae loan for the refinancing of a portfolio of market-rate multifamily properties totaling 314 units in Norman. The portfolio consists of five properties — Huntington Creek Apartments, Winshire Square Apartments, Willowbrook Apartments, Saratoga Springs and Sycamore Cottages — all of which are located within 15 miles of downtown Oklahoma City. Colliers originated the seven-year loan on behalf of the borrower, an entity doing business as Teelco Parent LLC.
OKLAHOMA CITY — KeyBank’s Community Development Lending and Investment (CDLI) platform has provided $20.6 million in financing for the purchase and renovation of Hillcrest Green Apartments, a 96-unit affordable housing property in Oklahoma City. The financing consists of a $9.3 million construction loan, $7 million in low-income housing tax credit equity from the Key Community Development Corp. and a $4.3 million permanent loan. Units at the Section 8 property include studio, one-, two- and four-bedroom residences that are reserved for renters earning 60 percent or less of the area median income. The borrower was Indianapolis-based developer TWG. Kelly Frank and Ryan Olman of KeyBank’s CDLI team originated the financing.
DURANT, OKLA. — HLC Equity, a national investment and management firm, has acquired High Meadows, a 208-unit apartment complex in Durant, located near the Texas-Oklahoma border. The property, which was built in 2007, fetched a sales price of $21 million. High Meadows offers one-, two- and three-bedroom units, according to Apartments.com. Amenities include a pool, fitness center, community clubhouse, playground, basketball court, dog parks and large communal outdoor areas. The seller was not disclosed.
WOODWARD, OKLA. — Marcus & Millichap has arranged the sale of the Holiday Inn Express & Suites Woodward, an 89-room hotel located in the northwestern part of the state. The property was built in 2006 and offers amenities such as a pool, fitness center and a business center. Matt Omansky, Allan Miller and Chris Gomes of Marcus & Millichap represented the seller, Miami-based Rialto Capital, in the transaction. The trio also secured an undisclosed private investor as the buyer.