Colliers Arranges Two Tulsa Deals

by Lynn Peisner

TULSA, OKLA. — Colliers has arranged two sales in the greater metro Tulsa area. Cedar Park Apartments, previously known as Westminster Apartments, traded for $31.3 million, and The Arlo at River’s Edge traded for an undisclosed amount. A local, unnamed investment group sold Cedar Park to Atlas Property Management. Two- and three-bedroom units account for the majority (94 percent) of the asset’s unit mix. The seller invested approximately $4 million in recent capital improvements during its hold period. Capital Assets acquired The Arlo at River’s Edge from Gold Wynn Residential. The property was previously known as Red River and includes 280 units. Ryan Gorman, David Dirkschneider and Mike Marrara of Colliers arranged both transactions.

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