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New Ownership for Metropolitan

Record price for sale of urban core apartments



 



A Washington-based Weidner Apartment Homes has purchased Metropolitan Apartments for $64 million, a per-unit cost of $194,666 – the most ever paid per unit for an Oklahoma City apartment complex. Metropolitan, which is located east of Automobile Alley at NW Eighth and Oklahoma Avenue, was owned by Houston-based Bomasada Group.
 

At the time of sale, 95 percent of Metropolitan’s 329 units were leased, according to ARA Newmark, an investment advisory firm that brokered the transaction. The occupancy rate is higher than average for apartments in the urban core, where 80-88 percent is far more common.

Bomasada opened Metropolitan in 2016, and its location is ideal for several demographics – including OUHSC students, faculty and staff, employees of the Innovation District and Tinker AFB employees and military personnel, as well as locals who want easy access to Bricktown and the downtown districts. The streetcar will run right by the property when it opens in 2018, which makes Metropolitan one of the most conveniently located complexes in the urban core.

The degree to which those factors contributed to the price of the sale is unknown, but for the sake of comparison, it’s worth noting that Deep Deuce Apartments sold for $130,000 per unit in 2013, and according to commercial real estate company CBRE, 2016 per-unit sales topped out at $108,000.

Weidner already owns three other apartment complexes in the city: Brookwood Village on N Shartel, Summit Pointe Apartments on SW 89th and Liberty Pointe Apartments on SE 74th - all brokered by ARA Newmark. The acquisition of the Metropolitan brings their total units in Oklahoma City to 1,965. The Kirkland, Washington-based Weidner owns more than 50,000 units in 250-plus complexes across 11 states, making it the 17th largest apartment owner in the U.S.

Kevin Colard, vice president of acquisitions for Weidner, said (via written statement): “As evidenced by this latest purchase, Weidner remains keenly interested in the Oklahoma market … In fact, the Metropolitan represents our third purchase in Oklahoma City in 2017, and we are not finished yet. By the end of the year, we anticipate our portfolio within the state to be well over 3,000 apartment homes, with roughly 2,000 of them concentrated in Oklahoma City.”

 


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Calendar

May 2019

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

Start your Sunday morning by perfecting your practice during our outdoor yoga class. Enjoy the beauty of yoga outdoors in the glow of the Ferris Wheel lights! This class welcomes all levels, from...

Cost: Free

Where:
Wheeler Ferris Wheel
1701 S. Western Ave.
Oklahoma City, OK  73109
View map »

More information

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

MILLER IN MAY HOME TOUR HIGHLIGHTS CHARACTER AND CHARM The 20th anniversary of Miller's beloved home tour Miller Neighborhood's most popular event is back for 2019… and...

Cost: $10 - $30

Where:
Miller Neighborhood
NW 10th to NW 16th, N Villa to N May
Oklahoma City, OK  73107
View map »


Sponsor: Miller Neighborhood Association
Telephone: 405.642.5982
Contact Name: Elizabeth Beard

More information

Escape the ordinary, and learn about OKC from a different point of view. Relax in the climate controlled cabin on one of our 65’ cruisers, or enjoy the breeze on the...

Cost: Adult: $20 Seniors and Children: $15

Where:
Regatta Park Landing
701 S. Lincoln Blvd
Oklahoma City, OK  73119
View map »


Sponsor: Oklahoma River Cruises
Telephone: 405-702-7755
Contact Name: Che Loessberg
Website »

More information

OKC's premier chamber orchestra, the Oklahoma Virtuosi, presents their season finale concert.  Concert will include: St. Paul's Suite Op.29 No.2 by Gustav Holst,...

Cost: Free

Where:
21C Hotel
900 W. Main St.
Oklahoma City, OK  73106
View map »


Website »

More information

As the first anniversary of her sixth album Conversation With A Ghost approaches in June, Italian-born and Austin-based singer-songwriter Giulia Millanta possesses a...

Cost: $15-$20

Where:
The Blue Door
2805 N. McKinley Ave.
Oklahoma City, OK  73106
View map »


Sponsor: The Blue Door
Telephone: (405) 524-0738
Website »

More information

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"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

Piedmont Airlines will be hosting a Information Session for ramp agent jobs at Embassy Suites in OKC. Please plan to spend up to 3 hours with us, as we will have you fill out applications, listen...

Cost: Free

Where:
Embassy Suites
1815 South Meridian Ave.
Oklahoma City, OK  73108
View map »


Sponsor: Piedmont Airlines
Telephone: 704-359-2477
Contact Name: Nick Calo
Website »

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James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

Watch happy hour turn to golden hour while we fill the air with live music. For 5 consecutive Tuesday evenings, we invite OKC to come out after work to enjoy a variety of food, views,...

Cost: Free

Where:
Chisholm Creek
1316 W Memorial Rd
Oklahoma City, OK  73114
View map »


Sponsor: OkSessions.com
Contact Name: James
Website »

More information

Show More...
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"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

Show More...
Show Less...

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

Show More...
Show Less...

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

Show More...
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More than 90 visual artists will line the streets of the Historic Paseo Arts District, selling original artwork in a wide variety of media, from painting and photography to wood and jewelry, and...

Cost: Free

Where:
Paseo Arts District
3022 Paseo
Oklahoma City, OK  73103
View map »


Sponsor: Paseo Arts Association
Telephone: 405-525-2688
Contact Name: Paige Powell
Website »

More information

Enjoy all your favorite activities at the Orr Family Farm for a special price! Admission is only $8 per person on this day only.

Where:
Orr Family Farm
14400 S. Western Ave.
Oklahoma City, OK  73170
View map »


Telephone: 405.509.9312
Contact Name: Lauren Daughety

More information

"Sandy Magrath: Dogs of the Southwest" art exhibit will be open May 1 - June 30, 2019, at the Chisholm Trail Heritage Center in Duncan, OK. A meet the artist reception will be 3:30 -...

Cost: $6 adults

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Stacy Moore
Website »

More information

A nationally touring exhibit “Bison: Ancient. Massive. Wild.” will open May 24 at the Chisholm Trail Heritage Center in Duncan, OK. This exhibit explores the significance of...

Cost: $4 - $6

Where:
Chisholm Trail Heritage Center
1000 Chisholm Trail Parkway
Duncan, OK  73533
View map »


Sponsor: Chisholm Trail Heritage Center
Telephone: 580.252.6692
Contact Name: Toni Hopper
Website »

More information

James Bailey from Missoula, Montana, is ARTSPACE at Untitled's visiting Artist in Residence; his exhibition, Map-ify, is on view May 9th through July 6th.  "My work examines...

Cost: Free

Where:
ARTSPACE at Untitled
1 NE 3rd st
Oklahoma City, OK  73104
View map »


Telephone: 405.815.9995
Website »

More information

Save $5 on a Dual Park Pass this Memorial Day Weekend! Get a full day of fun at Andy Alligator’s Fun Park and Water Park for only $29.99. A Dual Park Pass includes Unlimited Rides &...

Cost: Save $5 on a Dual Park Pass!

Where:
Andy Alligator's Fun Park & Water Park
3300 Market Place
Norman, OK  73072
View map »

More information

Escape the ordinary, and learn about OKC from a different point of view. Relax in the climate controlled cabin on one of our 65’ cruisers, or enjoy the breeze on the...

Cost: Adult: $20 Seniors and Children: $15

Where:
Regatta Park Landing
701 S. Lincoln Blvd
Oklahoma City, OK  73119
View map »


Sponsor: Oklahoma River Cruises
Telephone: 405-702-7755
Contact Name: Che Loessberg
Website »

More information

America’s largest interactive comedy murder mystery dinner show is now playing at the Skirvin Hilton Hotel. At The Dinner Detective, you’ll tackle a challenging crime while you...

Cost: $59.95

Where:
The Skirvin Hilton
1 Park Ave
Oklahoma City, OK  73102
View map »


Sponsor: The Dinner Detective
Telephone: 866.496.0535
Website »

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