New: 165-unit Property in Oklahoma City

    Acquisition Price

    $12.7M

    Estimated Project Timeline

    24 months

    Capital Expenditures Budget

    $9.1M

Greenlite is under contract on a 165-unit multifamily community in Oklahoma City through a lender-driven special situation. The opportunity was sourced based on Greenlite’s proven repositioning capabilities and local market experience, with the lender selecting Greenlite as a preferred path to recovering basis. Closing remains subject to final due diligence and financing.

Greenlite’s Strategic Approach

Planned Enhancements

Greenlite’s business plan includes a full-scale repositioning designed to close the rent gap with renovated comparable properties and improve long-term operating performance.

Comprehensive Redevelopment Scope

Interior, exterior, amenity, and deferred maintenance improvements are planned across the property to modernize the community and increase competitiveness within the submarket.

Operational Reset

The strategy includes replacing management, addressing delinquency and bad debt, strengthening resident profile quality, and implementing the same operational systems used successfully on prior Greenlite projects.

Stabilization Strategy

Following renovation and lease-up, Greenlite intends to position the asset for refinancing or disposition at a higher valuation, subject to market conditions.

Property Specs

Located in one of Greenlite’s most active and best-understood markets, this property presents significant upside through physical improvements, operational reset, and disciplined asset management.

  • Location: Oklahoma City, Oklahoma
  • Units: 165
  • Asset Type: Multifamily Community
  • Built: Early 1980s
  • Acquisition Basis: $12.7M
  • Planned CapEx: $9.1M
  • Projected Hold Period: 24 Months

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