DEL CITY, OKLA. — Home Invest, a private investment firm and fund manager headquartered in Sarasota, Florida, has bought Morgan Terrace in Del City, six miles east of Oklahoma City, Oklahoma. An undisclosed, California-based investor sold the asset for $3.7 million. According to Apartments.com, Morgan Terrace was completed in 1964 and offers one-, two- and three-bedroom units, as well as a courtyard and onsite laundry facilities.
OKLAHOMA CITY — Mintwood Real Estate has begun pre-leasing for The Residences at OAK, a 320-unit community in Oklahoma City. The Residences at OAK features studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, children’s playroom, pool and elevated courtyards. The first move-ins are slated for late August. Greystar will manage the property. The community is situated within OAK, a 20-acre mixed-use district currently under development by Veritas Development. In addition to The Residences at OAK, Phase I of OAK will comprise 135,000 square feet of retail …
TULSA, OKLA. — A public-private partnership consisting of Pennrose and the Tulsa Housing Authority will develop 36N, a $190 million mixed-income project in Tulsa. The partnership will redevelop the existing property at the site, a 271-unit community called Comanche Park Apartments, and construct an additional 274 units from the ground up. Once completed, 36N will comprise 545 apartments. The development is part of a larger revitalization initiative known as Envision Comanche. The project will also feature single-family homes, as well as a grocery store, urban farm and dedicated wilderness area. Vertical …
HARRAH, OKLA. — Marcus & Millichap Capital Corp. (MMCC) has negotiated a $6.7 million loan for the refinancing of Prairie Breeze Townhomes, a 56-unit community in the eastern Oklahoma City suburb of Harrah. The loan carries 12 months of interest-only payments and a 30-year amortization schedule. The lender and borrower were not disclosed. Prairie Breeze Townhomes was built in 2013. The property consists entirely of three-bedroom apartments.
EDMOND, OKLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $13.1 million in joint venture equity financing for a project in the Oklahoma City suburb of Edmond. Oaks at Covell will comprise 102 townhomes. Units will come in two-, three- and four-bedroom floor plans. Justin Shuart and Travis Headapohl of IPA worked on behalf of ACRE Development Partners to arrange the financing with an undisclosed partner.
BROKEN ARROW, OKLA. — Berkshire Lane Development Partners will build Berkshire @1Eleven, a 182-unit garden-style project in the southeast Tulsa suburb of Broken Arrow. Berkshire @1Eleven will offer one- and two-bedroom units, which feature stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a pool, fitness center, and green spaces. The first units are expected to be available for occupancy in summer 2025.
OKLAHOMA CITY — RRA Capital has provided a $20.6 million loan for the acquisition of a 252-unit complex in Oklahoma City. The property is located at 11239 Pennsylvania Ave. and was built in 1970s. Units come in one- and two-bedroom units. The borrower, GreenLite Holdings, plans to implement a value-add program that will upgrade the pool and clubhouse and install new appliances, flooring, lighting, plumbing and windows in the unit interiors.