TULSA, OK-Oklahoma City, OK-based Macco Properties Inc. has unloaded its 1,552-unit Tulsa portfolio to the Redfern Family Trust. The Southern California buyer has paid $52.95 million for four class B complexes, using 1031 exchange money to finance the off-market transaction.

Gregory Harris, executive vice president for Marcus & Millichap Real Estate Investment Services in Encino, CA, says the acquisition is Redfern’s first in the Tulsa area. Harris, who brokered the transaction, adds that the buyer approached the seller, who had owned the multifamily properties a little more than one year.

“It just so happened that his requirement with the exchange matched perfectly with the portfolio,” Harris says. Redfern Trust was turning around proceeds from the sale of two multifamily assets in the Los Angeles area.

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