California Trust Pays $4.5m for Two Multifamily Complexes

Summary

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California investor Medina Family Trust purchased two multifamily housing properties, totaling 76,800 square feet in Newcastle and Blanchard from local Westar Homes for $4.5 million. Built in 2001 and 2003 respectively, Gables Apartments and Summerfield Apartments each have 48, two-bedroom units.

It's the buyer's first acquisition and he liked what Oklahoma had to offer in terms of investments and the uniqueness of what the properties had to offer in terms of age and location, said Eva M. Wills of CB Richard Ellis/Oklahoma who was a broker in the transaction. She worked with William Forrest and David Forrest.

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Extract

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California Trust Pays $4.5m for Two Multifamily Complexes

Westar Homes, a builder who constructed both ...

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