Seattle-area firm pays $59M for another OKC apartment complex, boosting a Tulsa group

Richard Mize, Oklahoman
·2 min read
Weidner Apartment Homes has added to its Oklahoma portfolio by acquiring Sycamore Farms, a 398-unit apartment complex at 14900 N Pennsylvania Ave.
Weidner Apartment Homes has added to its Oklahoma portfolio by acquiring Sycamore Farms, a 398-unit apartment complex at 14900 N Pennsylvania Ave.

Weidner Apartment Homes has added to its Oklahoma portfolio by acquiring Sycamore Farms, a 398-unit complex at 14900 N Pennsylvania Ave.

Weidner, based in Kirkland, Washington, paid $59 million — $148,241 per unit — to Vesta Capital in Tulsa, which paid $44 million for it in 2020, a 34% increase.

Weidner, which bought its first Oklahoma apartment complex in 2014, now owns numerous multifamily properties in Oklahoma City, including prominent ones such as Aviare Arts District and the Metropolitan, both downtown.

Vesta is just getting started, said Marc Kulick, founder and CEO of Vesta Realty and Vesta Capital.

“In just six years, our company has grown from a small startup to a serious player in the property investment industry,” he said.

Veata, founded in 2017, buys, renovates and manages apartments in Oklahoma, Arkansas and Kansas. Its portfolio includes complexes totaling more than 9,600 units with an estimated value of $925 million.

Price Edwards & Co. reports these real estate transactions

∙ Sana Khan leased 2,635 square feet of medical space in Northwest Medical Center at 3330 NW 56. Derek James handled the transaction.

∙ Lee Engineering leased 1,455 square feet of office space in Pasteur Building at 1111 N Lee Ave., Oklahoma City. Allison Barta Bailey handled the transaction.

∙ Bakery leased 960 square feet of retail space at 4401 N MacArthur, Bethany. Rosha Wood handled the transaction.

∙ CD Morrison Resources renewed 823 square feet of office space in One Western Plaza at 5500 N Western Ave., Oklahoma City. Ian Self, Tre Dupuy and Derek James handled the transaction.

∙ Avant Creations Real Estate LLC leased 506 square feet of office space in One Western Plaza at 5500 N Western Ave., Oklahoma City. Self, Dupuy and James handled the transaction.

∙ The Oklahoma Office of Educational Quality and Accountability leased 2,355 square feet of office space in Grand Centre at 5400 N Grand Blvd. Craig Tucker, Tre Dupuy and Ian Self handled the transaction.

∙ Deloitte LLP renewed a lease for 2,339 square feet of office space and relocated in BancFirst Tower at 100 N Broadway Ave. Dupuy and Self handled the transaction.

∙ Breg Inc. leased 2,186 square feet of office space in The Herriman Building at 923 N Robinson Ave. James handled the transaction.

∙ Colorful Electric LLC leased 2,100 square feet of industrial space at 120 N Rockwell Ave. James and Danny Rivera handled the transaction.

∙ Davis Business Law renewed a lease for 1,886 square feet of office space in One Western Plaza at 5500 N Western Ave. Self, Dupuy and James handled the transaction.

∙ First Oklahoma Corp. renewed a lease for 1,772 square feet of office space in Bricktown Central at 116 E Sheridan Ave. Bailey and James handled the transaction.

∙ Natalie-Hair Salon leased 1,760 square feet of retail space at 4401 N MacArthur Blvd., Warr Acres. Wood handled the transaction.

This article originally appeared on Oklahoman: Weidner Apartment Homes buys OKC apartments from Tulsa firm