REAL ESTATE NOTES
The Reserve apartments sold to San Diego company
Watermark Residential, based in Indianapolis, has sold The Reserve at Quail North Apartments, which it developed and built in 2016, for $38.7 million to CEG Multifamily of San Diego, in a transaction by Newmark Knight Frank Multifamily Oklahoma.
Newmark senior managing directors Tim McKay, Brandon Lamb and Justin Wilson, and associates Ted Prince and Ben McKay, brokered the sale of the 280-unit property at 2600 Watermark Blvd., east off N May Avenue between Memorial Road and NW 150.
They said it was a record sale price per unit this year of $138,214.
It was CEG's second apartment purchase here. In January, the company bought The Landing, 4800 E Interstate 240 Service Road, for $32 million.
Lakewood Estates Apartments sold
Dallas-based Elkhorn Capital Partners has bought Lakewood Estates Apartments, 7806 Lyrewood Lane, for $10.9 million from Toronto-based Republic Funds, in a transaction by Newmark Knight Frank Multifamily Oklahoma.
Newmark senior managing directors Justin Wilson, Tim McKay and Brandon Lamb, and associates Ted Prince and Ben McKay, brokered the sale of the 203-unit property, which was built in 1971. Lakewood Estates is on the south side of Wilshire Boulevard, was of Rockwell Avenue, just off of Northwest Expressway.
Three buildings added to National Register
The Oklahoma Historical Society's State Historic Preservation Office announce three additions to the National Register of Historic Places listings in Oklahoma.
• The Oklahoma City Schools Administration Building, 400 N Walnut Ave., was listed for its role in education.
The completion of the Administration Building established the first permanent home for the administrative offices of the Oklahoma City school system and served as a physical reminder that public education in Oklahoma City had come of age.
The building is also an excellent example of Classical Revival architecture used in school construction in the early 1900s.
The original 1919 building was designed by noted Oklahoma architect Solomon Andrew Layton, who designed 22 buildings listed in the National Register.
The 1928 addition was designed by another notable Oklahoma architect, Guy C. Reid.
• Trinity Presbyterian Church, 2301 NE 23, was listed for its impact on and involvement with the African American community and social history.
The period of significance for the church is from the founding of Creston Hills United Presbyterian Church in 1945 through the passage of national civil rights legislation in 1965, particularly 1960 when allwhite Creston Hills merged with all-black Bethany Presbyterian Church to form a new, integrated congregation that took the name Trinity.
• The Harris Palace Store Building, 214 E Ripley St. in Byars, was listed for its association with the history of commerce in Byars, in McClain County.
Significant from 1904 to 1930, the building represents an era that was also the commercial heyday in Byars during the last years of the Chickasaw Nation and Indian Territory.