Vesta Capital has acquired four Oklahoma apartment communities for $100.4 million.
The assets include Riverpark at Kensington (Tulsa), Drexel Flats (Oklahoma City), The Ridge (Midwest City), and The Lofts at North Penn (Edmond), totaling 1,270 units combined. The seller(s) were not disclosed.
“Historically multifamily, particularly in markets like Oklahoma City & Tulsa have performed well even during recessions. In our mind, there will always be a need for people to provide quality housing and we are honored to help meet that need,” said Marc Kulick, founder and managing member of Vesta Capital and Vesta Realty.
In 2021 Vesta acquired more than 3,600 units resulting in 74 percent growth to the business. This momentum is on track to carry over into the new year, as the company is already under contract to close on three multifamily communities in the first quarter.
