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Oklahoma City real estate notes, Oct. 12

Oklahoma City real estate notes for Oct. 12, 2013.
Modified: October 11, 2013 at 7:08 pm •  Published: October 12, 2013

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Creekside Apartments purchased

Creekside Apartments LLC paid $1,535,000 to Platinum Enterprises LLC for the 56-unit Creekside Apartments, 2145 Melrose Court, in a deal handled by Mike Buhl of Commercial Realty Resources Co. The buyer already owned 71-unit Old Tuscan Apartments, adjacent, at 300 Hal Muldrow Drive.

Creekside was 90 percent occupied at the time of the sale. The buyer plans interior and exterior upgrades. The buyer is managing both properties together for operating efficiency. Buhl said the buyer expects to duplicate the success he has had with Old Tuscan Apartments, acquired for $1.8 million in December.

Agency presents lender awards

Oklahoma Housing Finance Agency has presented 2013 Diamond Awards to the top 10 producing lenders in its OHFA Advantage Homebuyer Program. In the past year, award recipients together totaled 468 home closings and more than $612 million in mortgage loans in the program, which offers qualified homebuyers a 30-year, fixed-rate, low-interest mortgage loan with 3.5-percent down payment assistance.

Award recipients were Arvest Mortgage Co., Lowell, Ark.; BancFirst, Oklahoma City; Bank of Oklahoma, Tulsa; Cornerstone Home Lending, Houston; First American Mortgage, Yukon; First Mortgage Corp., Oklahoma City; First United Bank and Trust, Durant; Leader Mortgage Corp., Muskogee; PrimeLending, Dallas; Republic Bank of Norman, Norman.

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