SIA Partners Plans Exit With 1,373-Unit Sale

OKLAHOMA CITY-SIA Partners Ltd. is exiting Oklahoma by putting its 1,373-unit collection on the sales block for $87 million. The seller is hoping for a closing by November or December.

Three class B complexes in Greater Oklahoma City are being offered as a portfolio while a class A complex in Tulsa, the 360-unit Vintage on Yale at 5202 E. 81st St., is being marketed as a one-off. “The Oklahoma City portfolio is cross-collateralized, which is why it’s being offered as one,” Andy Burnett, adviser with Sperry Van Ness’ Oklahoma City office, tells GlobeSt.com. He and Sperry Van Ness associate advisor David Burnett are selling the assets for a Houston-based owner, citing personal timing issues as motivation for the disposition.

The portfolio consists of the 368-unit Watersedge Apartments at 4317 SW. 22nd. St. and 157-unit Gardens at Reding at 3708 S. Douglas Ave., both in Oklahoma City, and the 488-unit Oxford Oaks Apartments at 1920 E. 2nd. Ave. in Edmond.