OKLAHOMA CITY-OKC Portfolio LLC has ended a six-year hold on the 186-unit Chandelaque apartments, selling the 1970s-built multifamily property to Sand F. Sterling LLC. The Redwood City, CA-based seller collected just under $8 million from the buyer, which is based in West Hollywood, CA.
Chandelaque is situated on approximately 7.6 acres at 5528 N. Portland Ave. in the northwest submarket. The area is also known for its medical centers; the complex is across the street from Deaconess Hospital, and very near Baptist Medical Center. Joshua Tomaszewski with JRM Properties represented the buyer. Mike L. Buhl with Commercial Realty Resources Co. represented the seller.
Buhl also represented OKC Portfolio LLC in 2007, when it acquired Chandelaque from McKinley Crosswinds LLC as part of a three-property portfolio. Also in the portfolio were Crosswinds at 6101 N. May Ave. and Crosswinds Cove at 2805 NW 59th St.
Chandelaque offers 98 one-bedroom units; 76 two-bedroom units and 12 three-bedroom units. Unit sizes range between 687 square feet and 1,224 square feet; monthly rents are between $480 and $819.
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