Commercial RealEstate
Apple Nine Oklahoma LLC purchased the Hampton Inn & Suites Bricktown, 300 E Sheridan Ave., for $26.32 million from OKC-Bricktown Lodging Associates LLC. The eight-story, 200-room hotel was built in 2008 and totals 110,937 square feet. Haven Galloway with Oklahoma City Abstract & Title Co. handled the closing.
8/1/2010
Haley and Associates purchased the Regency Tower Apartments, 333 NW 5, for $17.2 million from Virtu Investments. The 24-story, 274-unit apartment tower was built in 1967 and totals 230,812 square feet. At time of sale, the complex was at 95% occupancy. Andy Burnett and David Burnett, investment advisers with Sperry Van Ness/William T. Strange & Associates, handled the transaction.
8/1/2010
Summerscape Holdings LLC purchased Summerscape Apartments, 3250 SE 44, for $3.18 million. The 125-unit, 102,285-square-foot apartment complex was built in 1968 on 12.03 acres. It was at 95% occupancy at time of sale. Golden Estate Management Inc. will assume management operations for the complex. Mike Buhl with Commercial Realty Resources Co. handled the transaction. Pilar Beare with First American Title & Trust handled the closing.
8/1/2010
Turnberry Apts. LLC purchased a 140-unit apartment complex at 1911 Twisted Oak Drive in Norman for $2.28 million from Merchant Commercial Assets LLC. Built in 1973, the complex totals 136,400 square feet on 11.02 acres. At time of sale, the property was at 73% occupancy. The new owner is planning significant improvements to the property, including new siding and paint on the exterior, upgraded signage and landscaping, and interior renovations to the vacant units. Mike Buhl with Commercial Realty Resources Co. handled negotiations.
8/1/2010
LT Exchange Corp. purchased 61.44 acres at Council and Memorial roads for $1.23 million. Stuart Graham and Mark Inman with CB Richard Ellis/Oklahoma handled the transaction.
8/1/2010
May Ten LLC purchased retail property at 2927 NW 10 for $1.2 million from May Ten Trade Center LLC. Cordell Brown with Price Edwards & Associates handled the transaction.
8/1/2010
Falls Creek LLC purchased multifamily property at 7032 NW 10 for $990,000 from Arapahoe Limited VII. Phillip Mazaheri with Price Edwards & Company handled the transaction. Oklahoma City Abstract & Title Company handled the closing.
8/1/2010
Logan’s Roadhouse purchased 1.87 acres in West End Pointe Shopping Center, located at the southeast corner of Interstate 40 and Garth Brooks Boulevard, in Yukon for $775,000. Mark Inman and Stuart Graham with CB Richard Ellis/Oklahoma handled the transaction.
8/1/2010
Telluride Properties Inc. purchased industrial property at 4631 NW 3 for $750,000 from Allen Simpson Living Trust. The 18,600-square-foot building was built in 1983 on 1.03 acres. Jim Karey of Grubb & Ellis|Levy Beffort handled the transaction.
8/1/2010
Hurricane Saleleaseback LLC purchased a Poblano Grill site, 1909 S Douglas Blvd., for $650,000 from Emerging Brands Inc. The 7,982-square-foot building was constructed in 1998 on 2.17 acres.
8/1/2010
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