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Oklahoma real estate briefs for May 31, 2014

Oklahoma real estate briefs for May 31, 2014
Oklahoman Published: May 31, 2014
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Britton Square gets new owner

Britton Square, a shopping center at 2911 W Britton Road, has sold in a $1.7 million transaction handled by brokers Jason Little and Adam Rumsey for the seller, I-P PAG-2 LLC. The buyer was Britton Square Partners LLC. The 27,326-square-foot property — two single-story buildings built in 1976 and a separate freestanding restaurant built in 1985 — is 100 percent occupied by local tenants. Little said the property attracted multiple offers above its list price and went under contract within 30 days of its offering. Title and Escrow services were provided by Arlene Phillips at Guaranty Abstract Co. in Tulsa.

Sapulpa nursing home sells

— Northside Nursing Home has sold in a $1.6 million transaction handled by broker Daniel Morris of CB Richard Ellis-Oklahoma for the seller, Sapulpa Management Services. Sapulpa Holding LLC was the buyer. The 23,295-square-foot skilled-nursing center at 102 E Line Ave., which is licensed for 69 beds, was built in three phases: 40 percent in 1964, 20 percent in 1993, and 40 percent in 1998. Escrow services were provided by Mustang Title Co. in Tulsa.

Tax credits to be distributed

Oklahoma Housing Finance Agency’s Board of Trustees approved reservations of Affordable Housing Tax Credits to build or rehabilitate housing in Oklahoma for several developers and cities at its May meeting. The amount listed is received each year for the first 10 years of a project’s operating period. For example, a $500,000 reservation results in a total tax credit award of $5 million.

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