California Investment Firm Picks Up 98-Unit Apartment Complex in Oklahoma City
admin / April 2020
1Sharpe Capital Plans to Complete Extensive Renovations to Vines at Meridian
Investment management firm 1Sharpe Capital has purchased Vines at Meridian, a 98-unit apartment complex in Oklahoma City that the firm also plans on renovating.
The Piedmont, California-based firm purchased the apartment complex from a private investor taking title as Maple Leaf Ventures 1 LLC for $4.56 million, or $46,530 per unit, according to Price Edwards & Co., which brokered the sale. The private investor originally acquired Vines at Meridian in 2007 for $3 million, according to CoStar data.
Located at 5418 N. Meridian Ave., Vines at Meridian was built in 1975 and was last renovated in 1995, according to CoStar data. The apartment complex offers a mix of studio, one- and two-bedroom floorplans.
1Sharpe plans on completing an extensive interior and exterior renovation to the apartment complex, according to a statement from Price Edwards. Renovation plans include new windows, paint and a complete upgrade to the unit interiors.
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