OKLAHOMA CITY, OK — Capstone Companies has successfully facilitated the $16,250,000 sale of Almonte Apartments, a 288-unit garden-style apartment community in Oklahoma City, OK. The property, built in 1983, has been extremely well-maintained and recently underwent significant capital expenditures. Previous ownership had been in place at Almonte for over 17 years prior to the sale.
The Capstone transaction team was led by William Forrest, David Dirkschneider, Mike Marrara, and Chris O’Hare, who represented the seller, William Kirtikos, Jr., through a fully marketed sales process. The Capstone team also procured the buyer, Pro Residential Services, Inc., who has additional plans to renovate the property and update the units.
“The location, convenient to the airport and related job opportunities, was attractive to the buyer who already has a significant presence in the submarket,” said Capstone Managing Director, William Forrest.
The property is strategically located within Oklahoma City with excellent connectivity to various interstate highways like I-44, I-240, and I-35, and it also within three miles of an Amazon fulfillment center. A number of developments are underway in the immediate submarket, positioning Almonte Apartments for future growth. The property was 91% occupied at the time of sale.
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