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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.