(Read more on the multifamily market.)
OKLAHOMA CITY-Within months of its first acquisition in thecity, an Omaha-based investor has bought the 294-unit Deep Deuce ofBricktown from New York City-based Somerset Partners. The$26.9-million trade is believed to be a new record for amultifamily sale in the CBD.
The plans for the 93.1%-leased Deep Deuce, located at 314 NE 2ndSt., involve minimal upgrades and a long-term hold, says JackHaley, owner of Haley Associates. "There's a little deferredmaintenance on it, but it's not a value-add deal," he tellsGlobeSt.com. "This is a completed renovation deal that's runningvery well."
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