(Read more on the multifamily market.)

TULSA, OK-A Bakersfield, CA company has plunked down $12.6million for the class B Riverchase Apartments, its second asset inthe city. The new owner plans to make only minimal upgrades to the432-unit complex, which was built as student housing for nearbyOral Roberts University.

Chandler Wonderly, principal and co-owner of buyer OlympusProperty, says one of the more unusual aspects of the 30-year-oldasset at 7901 Riverside Dr. is it is all two-bedroom units, each950 sf. The monthly rent is $530 per unit.

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