OKLAHOMA CITY, June, 28, 2016 – Following a significant capital investment Indianapolis-headquartered Strategic Capital Partners and its partner, Post Investment Group, headquartered in Los Angeles, have sold the suburban Oklahoma City “Residence at North Penn” complex, 14520 N. Pennsylvania Ave. The sale was completed in the May 2016.
Residence at North Penn is north of the Kilpatrick Turnpike in the Edmond suburban submarket area and about 20 minutes north of downtown Oklahoma City.
Strategic Capital Partners focuses on providing value-added solutions to tenants and investors, and has decades of experience in speculative, build-to-suit and project master-planning execution. The company has properties throughout the Midwest and Southeast totaling more than $500 million in real estate assets.
The Residences at North Penn has 276 units. Post Investment Group and Strategic Capital Partners purchased the complex in 2012 and began a capital program that enhanced the landscaping, fitness center, siding and selective unit upgrades. After stabilizing and the completing the capital program, the property was sold to a national multifamily owner and represents an opportunistic return on equity.
Post Investment Group is a multi-family real estate investment company. Post was founded by a team of experienced multi-family and institutional real estate professionals. Post specializes in distressed, core-plus, value-add, ground-up development and Low Income Housing Tax Credit multi-family investment opportunities throughout the United States.
Strategic Capital Partners was formed in 2005 as a commercial and urban multi-use development company. Its managing partners, Gene Zink and Richard Horn, have worked together for 30 years. Zink and Horn were previously executives of publicly traded Duke Realty (NYSE: DRE).