Omaha, Nebraska-based Haley Communities Inc. purchased the 244-unit Stoneleigh on May apartment complex, 14300 N May Ave., for $19.7 million from Virtu Stoneleigh Associates LLC. Built in 2001, the Class A apartment complex is located in the Quail Springs area and boasts a wide array of amenities, including a fitness center, clubhouse, swimming pool and meeting areas.

Andy Burnett and David Burnett, investment advisers with Sperry Van Ness/William T. Strange & Associates, handled the transaction.

"This transaction continues to prove the strength of performing Class A assets in good locations. There is a very strong market for this type of asset especially with the financing options available today," said Andy Burnett. "This was a good opportunity for both the buyer and the seller. The buyer was able to buy a stabilized, well-maintained property in an excellent location for less than they could have built it for. The seller was able to move some equity back to their core market at an attractive cap rate."

The Stoneleigh on May transaction marks the largest multifamily sale in the state to date this year, and the third largest commercial property sale to occur in Oklahoma City this year.