TULSA, OK — Capstone Companies has successfully facilitated the $3,100,000 sale of Coliseum Apartments, a Class A, 36-unit luxury walk-up-style apartment building in Tulsa, Oklahoma. The property, built in 1925 and renovated in 2015, has been in the heart of Tulsa for over 98 years and encompasses a fusion of modern urban living with the practicality of an unbeatable location and upscale renovations.
The Capstone transaction team was led by Mike Marrara, Chris O’Hare, William Forrest, and David Dirkschneider, who represented the seller, Hitech Hospitality, LLC & Sunny Hospitality, LLC, through a fully marketed sales process. The property was sold to Tulsa-based LJG Investments.
“The uncertainty in the market along with rapidly rising interest rates were challenges that we overcame. We highlighted the attractive location in downtown Tulsa, along with the unique aspect of being one of the few naturally affordable communities in downtown to draw the right buyer pool and ultimately a strong offer for our seller,” said Capstone Director, Mike Marrara.
Coliseum Apartments benefits from immediate access to all major thoroughfares in Tulsa. The property consists of fully renovated studio apartments and was 75% occupied at the time of sale.
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