Autumn Ridge, Tulsa
Site Features
- 182 units in nine two-story buildings
- Unit types: Studio, 1-, 2-, and 3-bedroom
- Setting: Lush, garden-style environment
- Amenities: On-site management, splash pads, playground, 2 laundry facilities
Thesis
Acquire a value-add multifamily complex in Tulsa, Oklahoma, in an off-market deal. Use our extensive local network, which includes brokerage, lending, construction and property management relationships, to turn the property around with targeted and disciplined capital investment and leasing strategies. Sell the upgraded and leased property for an attractive yield within 36 months of acquisition.
Location
- Southeast Tulsa
- 15 minutes from downtown Tulsa
- 11 minutes from University of Tulsa
- 10 minutes from Tulsa International Airport
Purchase Price
- $7,000,000 / $38,460 per door
Renovation Cost
- $2,000,000 / $11,000 per door (est)
Value at Sale
- $14,500,000 / $79,700 per door (projected)
Gross Levered LP IRR
- 31.28% per year, over 36 months (projected)
LP Equity Multiplier
- 2.18x over 36 months (projected)
Investment Timeline
- 36 months (est)
Project Status
Acquisition closed on October 16th, 2024. All building exteriors have been painted and more than 30% of the units have been upgraded. Common areas and building systems to follow.
Reserve on 29th, Oklahoma City
Site Features
19 two-story townhomes with 3 bedrooms, 2 ½ bathrooms, a single-car garage, and 1,450 sq. ft. of living space.
59 fully serviced turnkey development lots for additional townhomes of similar specifications.
Thesis
Location
- Mustang, Oklahoma
- 13 miles southwest of downtown Oklahoma City
- 13 miles northwest of Will Rogers World Airport
- Mustang boasts some of the best schools in the state
- Population has grown by more than 20% between 2020 and 2024.
Purchase Price
- $5,000,000
Construction Cost
- 10,000,000 (est)
Value at Sale
- $20,000,000 / $256,400 per door (projected)
Gross Levered LP IRR
- 30% per year, over 26 months (projected)
LP Equity Multiplier
- 1.75x over 26 months (projected)
Investment Timeline
- 26 months (est)
Project Status
