- 96
- Units
- Tulsa, OK
- Location
- 2021
- Acquired
- Continues under management
- Hold Period
- 47% to 92% occupancy
- Occupancy
This property was under renovation with low occupancy when we acquired it. The prior owner had invested substantial capital into improvements, and it showed. At the time of sale, some renovations were in progress and many vacant units were yet to be leased. Since then, occupancy is up, most units are fully renovated, a new management team is in place, and a major transformation has been achieved. Tulsa continues to grow as a desirable market across diverse industries, including manufacturing, healthcare, and aviation.
What we learned
- Plan for tenants to leave when there is new management and new accountability.
- Tenants value security even in safe areas. Lighting, cameras, locks, and security services attract and keep good tenants.
- Tenants value community. Hold events, celebrate with them, and show them some love.