Deals & Dealmakers: Denver Real Estate Firm Sees Upside in Oklahoma City
By: Andrew Dodson, Reporter, Denver Business Journal
Searching for deals across the country, Denver Realty Group landed on Oklahoma City as a top “misunderstood” market with a significant upside. This week, the firm acquired its fourth apartment complex in OKC for $9 million. Principals Jacob Chase and Zack Koblica handled the deal.
The firm said it believes the Oklahoma lifestyle and amenities offered by the city — combined with its low cost of living and low unemployment — gives it the potential to create a tight rental market that could benefit multifamily owners.
“Our research indicates when rental markets tighten, rents don’t go up by little increments but expand in large step-changes with related property valuation increases. Combine this with the leverage inherent in real estate acquisition and there is a meaningful chance for serious outperformance. We believe we have found just such an opportunity in Oklahoma City,” said Lauren Richardson, director of business development for the firm.
Richardson said the firm is under contract to purchase a fifth apartment building in Oklahoma City by month’s end.
Click to see the full Deals & Dealmakers article on the Denver Business Journal website