Ashley Park Apartments Sell for $5.25 Million

DesertCrest OK LLC, an Iowa-based real estate investment group, has purchased the Ashley Park Apartments at 5477 E. 71st St. for $5.25 million.
Ashley Park Apartments LLC was the seller.
The two-story, 192-unit apartment community is between Yale and Sheridan Avenues, on the north side of 71st Street in Tulsa. The property is 86 percent occupied.
Community amenities include a clubhouse, leasing office, swimming pool, laundry facilities and tennis courts. The complex also includes a 375-space parking lot.
The buyers plan to make improvements to the property in an attempt to reposition them within the rental market.
Tulsa attorney Richard Riddle is registered with the Oklahoma Secretary of State as the registered agent for DesertCrest.
Max. A. Heidenreich and Raymond W. Lord of NAI Commercial Properties in Tulsa represented both buyer and seller.

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