Oklahoma City multi-housing portfolio totaling 512 units sold
JLL Capital Markets closed the sale of a three-property portfolio located throughout the Oklahoma City MSA
OKLAHOMA CITY, May 18, 2021 – JLL Capital Markets announced today it closed the sale of a three-property portfolio totaling 512 units located throughout the Oklahoma City area in Oklahoma.
JLL represented the seller, Security Properties, to complete the sale to the buyer, Hamilton Point Investments.
The portfolio consists of Chapel Ridge of Yukon, Chapel Ridge of Tinker and Crown Ridge of Edmond.
The Crown Ridge of Edmond is located at 2500 Thomas Dr. in Edmond. The property was built in 2004 and totals 160 one-, two-, three- and four-bedroom units. Chapel Ridge at Yukon is located at 11501 S.W. 15th St. in Yukon. The property was built in 2005 and totals 200 one-, two-, three- and four-bedroom units. Chapel Ridge of Tinker is located at 5707 S.E. 48th St. in Oklahoma City, was built in 2005 and totals 152 one-, two-, three- and four-bedroom units.
Oklahoma City and its surrounding areas are rapidly growing, experiencing a 15 percent population growth over the last decade due to a diversifying employment base of aviation/aerospace, energy and biotech sectors, in addition to growth within the city’s prominent logistics and industrial hubs. Additionally, each property benefits from other key economic drivers like the Tinker Air Force Base and University of Central Oklahoma, which consists of over 17,000 students, 3,000 employees and 800 faculty.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Doug Childers and Senior Directors Michael Fox and Steven Hahn, Jr.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Security Properties
Security Properties is a national real estate investment, development, and operating company headquartered in Seattle, Washington. For more than 50 years, Security Properties has provided quality housing to its residents as well as excellent financial performance for its investors. Since its formation in 1969, Security Properties and its partners have invested over $1.8 billion of equity in multifamily real estate, representing a portfolio value of nearly $7.2 billion. Today, Security Properties’ portfolio reflects interests in 125 assets encompassing over 25,000 multifamily housing units. Security Properties maintains a focused multi-family strategy supported by integrated teams of professional acquisition, development, construction, investment, and property management specialists. For more information, visit www.securityproperties.com.
About Hamilton Point Investments
Hamilton Point Investments (HPI) is a real estate private-equity firm that owns and manages multifamily apartment properties primarily in the Southeast and Midwestern United States. The firm, founded in 2010 by David Kelsey and Matt Sharp, has acquired over 22,000 apartment units for $1.9 billion. HPI invests through a series of real estate private-equity investment funds raised from individual accredited investors. They focus on 2000 or newer garden style product in growing, secondary and tertiary markets. All HPI properties are self-managed by Hamilton Point Property Management.