June 30, 2017
Early Bird Alert: Connect Apartments is planned September 28th in Los Angeles. Here’s where to get more information and register.
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.
For comments, questions or concerns, please contact Dennis Kaiser