Acquisition of Highpoint Creek Apartments

Oklahoma City, OK — (October 5, 2023) — Greenlite Holdings, LLC (“Greenlite”) is pleased to announce the acquisition of Highpoint Creek Apartments, a 252‑unit garden‑style community at 11239 North Pennsylvania Avenue in Oklahoma City. Built in 1971, the property comprises one‑ and two‑bedroom units and offers immediate value‑add potential. To finance the purchase and renovation, Greenlite secured a USD 20.6 million non‑recourse, interest‑only bridge loan from RRA Capital.

Greenlite plans an extensive upgrade program, including refashioning the on‑site pool and clubhouse, installing Google Nest thermostats, upgrading appliances and lighting, and replacing flooring, plumbing and windows. The business plan targets a rent increase of approximately USD 300 per unit upon completion and envisions a two‑year hold, after which the property will be sold.

“Highpoint Creek represents a classic Greenlite deal: an underperforming asset in a solid submarket with clear opportunities for improvement,” said Jonathan Lewis. “Our experience in Oklahoma City positions us well to execute this renovation and deliver strong returns for our investors.”

About Greenlite Holdings

Founded in 2013 in Phoenix, Arizona, Greenlite Holdings transforms underperforming multifamily properties into high‑performing assets through disciplined underwriting, hands‑on management and strategic capital improvements. The firm relocated its headquarters to Salt Lake City, Utah, in 2020 and continues to expand across the Southwest and Mountain West.