Oklahoma

HLC Equity Acquires High Meadows Apartments in Durant, Oklahoma, for $21M

by Taylor Williams June 17, 2021

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.

June 17, 2021

Acquisitions Hospitality Oklahoma Texas

Marcus & Millichap Arranges Sale of 89-Room Hotel in Woodward, Oklahoma

by Taylor Williams June 15, 2021

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.

June 15, 2021

Acquisitions Healthcare Oklahoma Texas

National Health Advisors Purchases Brookhaven Hospital in Tulsa for $40.3M

by Taylor Williams June 7, 2021

TULSA, OKLA. — National Health Advisors (NHI) has purchased Brookhaven Hospital, a 64-bed facility in Tulsa, Okla., for $40.3 million. Behavioral health services provider Vizion Health, which treats patients who have suffered traumatic brain injuries, occupies the property on a 15-year lease. The seller was not disclosed.

June 7, 2021

Development Hospitality Oklahoma Texas

Lambert Breaks Ground on 92-Room NOUN Hotel in Norman, Oklahoma

by Taylor Williams May 10, 2021

NORMAN, OKLA. — Lambert, a hospitality development and management firm, has broken ground on the NOUN Hotel, a boutique property that will be situated near the University of Oklahoma’s campus in the downtown area. The hotel will 92 guestrooms, including two 900-square-foot suites, as well as a banquet room and several bars with indoor and outdoor seating. Completion is slated for summer 2022.

May 10, 2021

Acquisitions Industrial Oklahoma Texas

Corinth Land, Prattco Creekway Buy Two Industrial Buildings Totaling 121,600 SF in Oklahoma City

by Taylor Williams April 28, 2021

OKLAHOMA CITY — A partnership between Fort Worth-based Corinth Land Co. and Dallas-based Prattco Creekway Industrial has purchased two industrial buildings totaling 121,600 square feet in Oklahoma City. The buildings are situated on a combined 14.3 acres on the city’s southwest side and are leased to tenants such as Fred Jones, Overhead Door Corp. and TireHub. Veritex Bank provided acquisition financing for the deal, and Western Product Co. contributed equity. The seller(s) was not disclosed.

April 28, 2021

Loans Multifamily Oklahoma Texas

NorthMarq Arranges $22.5M Loan for Refinancing of Oklahoma City Apartments

by Taylor Williams April 26, 2021

OKLAHOMA CITY — NorthMarq has arranged a $22.5 million bridge loan for the refinancing of The Restoration at Candlewood, a 328-unit apartment community in northwest Oklahoma City. The property features one-, two-, three- and four-bedroom units and amenities such as two pools, a clubhouse, fitness center, outdoor grilling areas, dog park and a children’s play area. Connecticut-based Avant Capital provided the financing, proceeds of which will be used to repay an existing first mortgage and to complete an ongoing renovation project. The borrower was not disclosed.

April 26, 2021

Leasing Activity Oklahoma Retail Texas

At Home Opens 117,552 SF Store at Plaza at Quail Springs in Oklahoma City

by Taylor Williams March 31, 2021

OKLAHOMA CITY — Plano-based home furnishings retailer At Home (NYSE: HOME) has opened a 117,552-square-foot store at Plaza at Quail Springs, a shopping center in Oklahoma City. Locally based investment and management firm JAH Realty owns the center, which is located at 2201 NW 138th St. near Quail Springs Mall on the city’s north side. At Home is backfilling a space formerly occupied by three separate tenants. The company’s total store count now stands at 225.

March 31, 2021

Development Multifamily Oklahoma Seniors Housing Texas

Sparrow Partners Underway on 268-Unit Active Adult Community in Norman, Oklahoma

by Taylor Williams March 2, 2021

NORMAN, OKLA. — Austin-based Sparrow Partners is underway on construction of Sage Cobblestone, a 168-unit active adult community in Norman. The property will be located adjacent to the Cobblestone Creek Golf Course and 2.5 miles from the University of Oklahoma. The first residents are scheduled to move in to the six-acre property in the spring 2022. Sparrow Partners will build and own Sage Cobblestone, while its subsidiary Sparrow Living will manage the property. The project team includes architect Fugleberg Koch, landscape designer Norris Design and engineering firms Kimley-Horn, Integrity Structural and Joseph Lawrence & Co. Rents will start at approximately $1,400 and $2,055 a month for one- and two-bedroom units, respectively.

March 2, 2021

Acquisitions Multifamily Oklahoma Texas

Elkhorn Capital Acquires Two Apartment Complexes Totaling 158 Units in Oklahoma City

by Taylor Williams March 1, 2021

OKLAHOMA CITY — Dallas-based investment firm Elkhorn Capital Partners has acquired Arbor Glen and Arbor Vista, two contiguous apartment complexes totaling 158 units in Oklahoma City. Recently renamed Parkview Apartments 1 and 2, the properties total 96 and 62 units, respectively, in one- and two-bedroom floor plans. Elkhorn Capital is planning to consolidate the complexes into one property and to implement a value-add program to unit interiors and amenity spaces. The seller was not disclosed

March 1, 2021

Loans Multifamily Oklahoma Texas

Berkadia Provides $46.1M HUD-Insured Loan for Refinancing of Multifamily Property Near Tulsa

by Taylor Williams February 22, 2021

BROKEN ARROW, OKLA. — Berkadia has provided a $46.1 million HUD loan for the refinancing of Creekside Apartments I and II, a 380-unit multifamily property located in the Tulsa suburb of Broken Arrow. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, childcare area, business center and a dog park. Jennifer Quigley of Berkadia originated the loan through HUD’s 223(f) program on behalf of the borrower, Montana-based BlackRidge Cos. The program insures loans used to acquire or refinance existing multifamily properties that may have been originally financed with conventional or FHA-insured mortgages.

February 22, 2021

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