Cimarron Apartments Sold Again

Cimarron Apartments OK LLC comprised of two San Francisco investors recently bought Cimarron Apartments in east Tulsa from Galleria Real Estate Investments LLC for $6.6 million. The property is located at 13120 E. 31st St. just south of Silver Stone Apartments

The sale was the third in just over a year for the property. Galleria purchased Cimarron last October from MIP Tulsa Cimarron Apartments LLC for $5.3 million, Tulsa land records indicate. That entity bought the complex in July 2005 from Cimarron Partners for $6 million. The 240-unit complex features 192 one-bedroom and 48 two-bedroom ranging in size from 525 SF to 900 SF. Amenities include a clubhouse, swimming pool, tennis courts and laundry facilities. The buyers plan to make cosmetic improvements to the interior, exterior and landscaping.

Raymond Lord and Max Heidenreich with NAI Commercial Properties represented both the buyer and seller. Cimarron Apartments will continue to be managed by NAI Commercial Management.

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