Oklahoma real estate business briefs: Real Notes for June 16

Oklahoma real estate business briefs: Real Notes, June 16, 2012
Published: June 16, 2012
Advertisement
;

Real deals

N.J. firm buys industrial building

Monmouth Real Estate Investment Corp. of Freehold, N.J., has bought a new 119,912-square-foot industrial building at 2710 SW 18 for $9,453,000. The property is leased for 10 years to FedEx Ground Package System Inc. The building, a build-to-suit for FedEx by Jones Development Co., is on about 15 acres and can be expanded by 34,000 square feet. Monmouth, organized in 1968, is a real estate investment trust specializing in net-leased industrial properties subject to long-term leases mostly to investment-grade tenants. The company, new to Oklahoma City, owns a portfolio of 70 industrial properties and one shopping center 26 states and a portfolio of REIT securities.

Tax liability may be trimmed

First-time homebuyers in Oklahoma County can now lower their federal tax liability up to $2,000 per year for the life of a mortgage with a Mortgage Credit Certificate from the Oklahoma County Home Finance Authority. Applicants must be approved for a mortgage for a primary residence and have an annual income of no more than $60,660 for a family up to two and $69,690 for a family of three or more. Maximum home price is $215,000. For more information, contact Cornerstone Mortgage, WEOKIE Credit Union, Citywide Mortgage, Bank of America, Wells Fargo Home Mortgage, SpiritBank, First Mortgage or the authority at 270-1388 or emcgee@ochfa.org.

Continue reading this story on the...