DEAL OF THE DAY: 15-Story Oklahoma City High Rise Sold for $3.23M
- Apr 25, 2008
By Anuradha Kher, Online News EditorOklahoma City, Okla.–Sperry Van Ness recently completed the sale of Lakeview Towers, a 15-story/192-unit apartment community located at 6001 North Brookline in Oklahoma City, Okla.Boston-based Lakeview Towers LLC purchased Lakeview Towers, the last of a 775-unit, three-property 501c3 tax-exempt bond portfolio, for $3.23 million.Lakeview Towers, one of only a few high-rise residential buildings in Oklahoma City, is located within a mile of Northwest Expressway and Penn Square Mall, and is in close proximity to Integris Baptist Medical Center, one of the region’s largest medical centers. Built in 1959, the property is situated on 2.31 acres of land and features 48 one-bedroom units, 133 two-bedroom units and eight three-bedroom units with monthly rents ranging from $587 to $828. It was 72.7 percent occupied at the close of escrow. According to Jason Little, CCIM, the listing agent for the seller, which was Baltimore-based MMA OKC LLC, Sperry Van Ness generated 16 offers prior to the bid deadline. Escrow on the asset closed only one week later.