Northmarq’s Tulsa office announces sale of The Summit Apartments

The Summit Apts
Investment Sales - Multifamily
Multi-Tenant
Multifamily
Sale
Bank
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TULSA, Okla. (July 14, 2023) — Northmarq’s Benjamin Davis, senior vice president in the Tulsa office, arranged the $1.4 million sale of a 52-unit garden-style multifamily community located at 2302 NW 38th St in Lawton, Oklahoma. Davis represented the Florida based Seller. The buyer was a privately held investment firm based in Salt Lake City. 

Built in 1974, The Summit Apartments features two-bedroom apartment homes ranging from 866 to 990 sq. ft. The pet-friendly community is located along Interstate 44 approximately 90 miles southwest of Oklahoma City and offers a small-town atmosphere with plenty of attractions, such as the Museum of the Great Plains, Apache Casino and McMahon Memorial Auditorium. Residents enjoy hiking trails and roaming bison in addition to three shopping centers within 1.2 miles. The buyer plans to deploy a substantial amount of capital to bring the vacant property back to a point of stabilization.

 

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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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