Investors Buys Huntington Hollow for $7 million

Tulsa-Hollows LLC has paid $7 million, or $24, 349 per unit, for the Huntington Hollow Apartments, 4343 S. 109th E. Ave.
The complex, which was purchased from Southern Estate Properties USA LLC, was built in 1981 and contains 288 units in 17 two-story buildings. The property appraised for $3.3 million in 2006.
Huntington Hollow, which contains 204,800 rentable SF, was purchased by Southern Estate Properties for $7.5 million in 2005.
The property is 93 percent occupied and produces $1.38 million in yearly revenue.
Southern Estate Properties, based in Carlsbad, Ca., continues to own Tulsa’s Brookside Gardens, Royal Arms and Brighton Park apartment communities. The purchase is the second in the Tulsa area for Tulsa-Hollows LLC, which bought the Cobblestone Apartments for $13.2 million in 2006.
Gary Krisman and Royce Wright of Tooman Partners LLC represented both parties in the transaction.

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