NYC firm buys OKC apartments and other commercial real estate deals
Wynmor Management LLC, a NY-based private equity investment firm, has made its second multifamily property purchase in Oklahoma, buying Riverchase Apartments, 11239 N Pennsylvania Ave., for $13.6 million.
The seller was Texas-based Casa Claire Apartments LP, represented by Derek Wilson of Cushman Wakefield’s Oklahoma City office.
The property, built in 1971, has 10 three-story apartment buildings with 252 units, an office building, covered parking, a pool, and basketball and tennis courts. Wynmor plans to upgrade most of the units and improve management.
Wynmor and its partners invested their own equity plus $12.9 million borrowed from Bedrock Capital Associates.
Wynmor said its bid was not the highest offer, but that its “ability to execute and close the complicated transaction won out over the other bidders.”
Wynmor Management entered Oklahoma in May 2020, with its $6.6 million purchase of 173unit London Square Apartments in Tulsa.
CBRE reports these real estate transactions:
• Elliott OKC paid $660,349 to SMJ Industries for 3.7 acres of industrial property at 1700 S May Ave. Randy Lacey and Chris Zach CPA represented the seller.
• KJRUARK LLC paid $210,000 to Billy E. Williams for 3 acres a 15796 SE 29 in Choctaw. Zach represented the buyer. Clint Lawson with Pioneer Realty represented the seller.
• Conn’s Appliances leased 10,944 square feet of industrial space from ATCAP Fund Dallas/OKC LP at 1001 Enterprise Ave, Suite 10A. Lacey and Zach represented the tenant.
• Worth Louis & Co. leased 7,700 square feet of industrial space from Gerald L. Gamble Co. at 4201 Charter Ave. Lacey and Zach represented the tenant.
• Chloeta leased 5,000 square feet of industrial space from John R. Colbert Real Estate Holdings at 510 Beacon Place. Lacey and Zach represented the landlord.
• Better Building Products leased 10,890 square feet of industrial space from William E. Schlesinger Living Trust at 919 NW 70. Lacey and Zach represented the landlord.
• Oklahoma City Ballet leased 4,584 square feet of industrial space from Peloton Properties at 6917 N Classen. Zach represented the landlord.
• ADB Companies leased 8,000 square feet of industrial space from Progressive Management Co.at 2605 S Purdue. Lacey and Zach represented the landlord. Terry Watson with Emersons Commercial Real Estate represented the tenant.