Stonehaven Purchased for $24.5 Million

Sterling American Property Inc. of New York has purchased the Stonehaven Villas at 8110 S. 107th East Ave. for $24.5 million.
The property was sold by Merit Tulsa Properties LP of Dallas and has an occupancy rate of 95.6 percent. The complex sold for $82,770 per unit for 296 units.
Stonehaven consists of 26 apartment buildings and a combination office and clubhouse building. The complex has 283,314 SF of rentable space. It contains 156 one-bedroom, 108 two-bedroom, and 32 three-bedroom units. The community includes a conference center, fitness center, two pools, 160 garage-parking units, and gated accessibility.
Sterling American Property Inc. works as operator of four real estate funds and has acquired more than $2.5 billion of real estate assets nationwide since its founding in 1991.

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