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About Space briefs for Jan. 12

About Space briefs for Jan. 12
Published: January 11, 2014
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Partners to build House of Hope

— Two Structures LLC said it plans to partner with the Central Oklahoma Home Builders Association and Simpson Strong-Tie to build the 2014 House of Hope in Moore with sale proceeds benefiting Cavett Kids Foundation, which provides positive experiences for kids with life-threatening illnesses. The house will be at 841 SW 11 St., directly north of Plaza Towers Elementary School, which was destroyed by the May 20 tornado. Completion is scheduled for April. The House of Hope will be designed to resist wind speeds up to 135 miles per hour, or an EF2 tornado, using Simpson Strong-Tie connectors and anchors to tie the frame to the foundation.

Cedar Springs Lane units sold

Monticello Real Estate, LLC, is a local real estate investor and has bought 16 units of the 25-unit Cedar Springs Lane Townhomes, 12301-49 Cedar Springs Lane, built in 1974, in a deal handled by First Commercial Real Estate Services Corp. and Cushman & Wakefield-Commercial Oklahoma Inc. The buyer paid $1,432,500, or $89,531 per unit, a 2013 record for 1970s-era rental units.

The seller of the recently renovated property, northwest of NW 122 and May Avenue, was Esperanza Real Estate Investments LLC. Financing was provided by MidFirst Bank. Melanie Richardson and Mike Marrara of First Commercial Real Estate Services represented the seller. Stephen Pestinger with Cushman & Wakefield-Commercial Oklahoma Inc. represented the buyer. Jackie Hatton of Oklahoma City Abstract & Title Co. handled the closing.

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