June 30, 2017 Comments Off on ARA Newmark Closes $60.5M Sale of Oklahoma’s Largest Apartment Community Views: 1804 National News, Oklahoma, Southwest

ARA Newmark Closes $60.5M Sale of Oklahoma’s Largest Apartment Community

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ARA Newmark completed the $60.5-million sale of Brookwood Village in suburban Oklahoma City. The 1,128-unit apartment community is the largest in the state.

ARA Newmark’s Tim McKay, David Burnett, Brandon Lamb and Justin Wilson represented Tulsa-based seller Brookwood Village Apartments LLC in the sale to Weidner Apartment Homes. “Oklahoma City is enjoying a trend of unprecedented interest in multifamily investments, and this closing is another significant indicator of the metro’s strong economic fundamentals,” said McKay.

Built in 1970 and renovated extensively in the mid 1990’s and again in 2015 and 2016, the garden-style property offers floor plans in one-to-three-bedroom configurations. The Kirkland, WA-based firm purchased the property at approximately 94% occupancy, and currently owns nearly 50,000 units in both the United States and Canada.

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