Updated Mar 11, 2025
Meliorem Capital Acquires Tulsa Multifamily Portfolio With $10.5M Loan From Ready Capital
4111 East 51st Street, Tulsa, Oklahoma 74135, United States
$10,523,500
$78/SF
Building Size
134,985 SF
Asset Type
MultiFamily
Closing
Jul 7, 2022
About this deal
AI
Located in Tulsa, OK, the multifamily property at 4111 E 51st Street and 3377 E Skelly Drive was recently involved in a closed transaction. This portfolio consists of 174 units, with a total square footage of 134,985.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,523,500
- LENDER: Ready Capital
- LANDLORD: Meliorem Capital
- BROKER: Zach Lutwak-Fitzgerald - Black Bear Capital Partners
The acquisition and renovation of this multifamily portfolio, comprising 174 units, was made possible through a 3-year floating rate loan provided by Ready Capital. The loan amount of $10,523,500 covered 75% loan-to-cost (LTC).
Players
Tulsa MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93