October 22, 2019
Watermark Residential developed and opened The Reserve at Quail North Apartments in 2016. Three years later, the Indianapolis company sold the project in Oklahoma City to CEG Multifamily. The buyer, based in San Diego, paid $38.7 million for the 286-unit property at 2600 Watermark Blvd.
According to NKF Multifamily Oklahoma’s Tim McKay, Brandon Lamb, Justin Wilson, Ted Prince and Ben McKay, who brokered the transaction, the sales price, per unit, hit a record at $138,214. Meanwhile, the transaction is CEG’s second in the area in 2019. In January 2019, the company acquired The Landing for $32 million.
Reserve at Quail North offers one-, two- and three-bedroom units. Amenities include a swimming pool with outdoor kitchen, dog park, game room, package receiving, a clubhouse with televisions and a coffee bar, and a fitness center.
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