Northwest Oklahoma City Apartment Complex Trades for $14.4 Milion
admin / November 2020
M Group Partners With Vesta Capital to Purchase 318-Unit Tuscany Village
Privately held real estate investment firm M Group has teamed up with Vesta Capital to purchase Tuscany Village, a 318-unit apartment complex in northwest Oklahoma City.
The joint venture acquired the property from Toronto-based Republic Funds USA Inc. for $14.4 million, or about $45,000 per unit, according to CoStar data. Republic Funds originally bought the apartment complex in 2017 for $10 million, according to CoStar data.
Located about 9 miles from downtown Oklahoma City at 6900 London Way, Tuscany Village was built in 1973 and comprises a mix of one-, two- and three-bedroom floor plans. Its amenities include a resort-style pool and terrace, business center, large centralized green space, picnic areas, covered parking and detached garages.
This is M Group’s fourth acquisition in Oklahoma. This past June, M Group also partnered with Vesta Capital to acquire the 240-unit Eastgate apartment complex in Tulsa, Oklahoma, for $12.4 million. M Group has acquired or invested in over 200 properties totaling over 19 million square feet throughout North America.
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