Shoreline Apartments Sell to California Investor

Albion Tulsa LLC of Los Angeles has purchased the Shoreline Apartments from Shoreline Partners LLC for $10.2 million.
The apartments, which were erected in 1974 and include 98,266 SF of rentable space in 464 units, are at 9601 E. 21st Street. Albion Tulsa plans to spend approximately $850,000 on improvements to the property.
The property is zoned RS3 and sits on 311,018 SF of land with frontage to 21st Street on the north.
Gary Krisman and Royce Wright of Tooman Partners LLC of Tulsa were the brokers for the buyer of the property. Wright is the registered agent for Shoreline Partners. Ron Dixon of the Trammel Crow Company of Oklahoma City was the transaction broker for the seller.
Capital Assets, Inc. will be the manager of the property.

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