ATLANTA, GA - Cushman & Wakefield announced the commercial real estate services firm has arranged the sale of Legend Park, a 360-unit multifamily community in Lawton, Oklahoma.
Martin Bynum, Craig Hey, and Stephen Pestinger of Cushman & Wakefield represented an undisclosed seller in the transaction. The multifamily community was acquired by 3501 Gore BLVD and 3501 Gore BLVD II.
“Legend Park arrived to the market as the premier property in the area and carried with it attractive and assumable in-place debt. These two factors, along with a proven value-add strategy, attracted national buyer interest to a tertiary market like Lawton," said Bynum, Director at Cushman & Wakefield.
Built in 2010 and 2012, Legend Park has an outstanding location near major thoroughfares, top retailers, and outdoor recreation. The multifamily community is also in proximity of Lawton's largest employers, including the Fort Sill Army base that is home to 16,500 military troops and 7,000 civilian jobs. Legend Park offers premium community amenities to residents, modern designs, spacious floorplans, and potential value-add by continuing a renovation plan that has allowed 40 units to be upgraded at the property.
"We’re excited to leverage our multi-state team and HUD loan experience to generate the largest tertiary Oklahoma sale,” added Hey, Vice Chair at Cushman & Wakefield.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 110-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2023, the group has closed $3.6 billion in sales volume through 120 deals and 20,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com