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Real estate notes for Feb. 8

Real estate notes for Feb. 8
Published: February 7, 2014

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Frates Building sells for $3M

HL Investments LLC has bought the Frates Building, 5005 N Lincoln Blvd., for $3 million from Bricktown Properties LLC, which had owned it for 10 years. The 37,000-square-foot, two-level building consists of two structures, one built in 1969 and the other built in 1974, according to the county assessor. Tim Strange, president of Newmark Grubb Levy Strange Beffort, represented the buyer and Craig Tucker, senior vice president of Price Edwards & Co., represented the seller. “The building is in excellent condition since it housed the operations of the longtime occupant C.L. Frates & Co.,” Strange said. The longtime tenant is an insurance agency founded in 1924.

Awards will help fund housing

Oklahoma Housing Finance Agency’s Board of Trustees has approved Home Investment Partnerships Program awards to provide affordable housing to the following:

• Little Dixie Community Action Agency Inc., $360,000 to build 18 single-family homes for sale in Atoka, Bryan, Carter, Choctaw, Love, Marshall, McCurtain, and Pushmataha counties.

• Native American Housing Services Inc., $400,000 to build two single-family homes for sale in Harrah.

• The city of Midwest City, $100,000 to provide down-payment assistance to 20 home buyers.

• Native American Housing Services Inc., $400,000 to construct two single-family homes for sale in Moore.

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