Vesta Capital, a Tulsa, Oklahoma real estate investment firm, has announced the successful sale of Waterford, a 344-unit multifamily property valued at $32 million.
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Vesta Capital, a fully integrated real estate investment firm specializing in the acquisition, renovation, and ongoing management of multifamily communities, has announced the sale of Waterford, a 344-unit multifamily property in Tulsa, Oklahoma.
More information is available at http://www.vestarealproperty.com/
The real estate investment firm purchased the Waterford property in 2018 for $23,564,000 ($67,500 per unit) and sold it in 2024 for $32,336,000 ($94,000 per unit). This transaction yielded a total project return of 21.8% and a project equity multiple of 1.92 for the investors.
Vesta Capital stated that the sale, which was made amid challenging market conditions, highlights its skilled financial management and cements its status as a leading player in investment real estate.
“As we navigate these uncertain economic times, I am equally proud and excited to secure a win for our investors and provide stellar returns. The sale of Waterford is not just a transaction; it's a testament to our commitment to excellence in the real estate industry,” says Marc Kulick, Founder and CEO of Vesta Capital.
Mr. Kulick added that in 2024, the firm intends to enhance investor liquidity through asset sales and refinancing, introduce several new investment opportunities with stable cash flows, and expand its property management team to benefit both residents and investment partners.
Vesta Capital specializes in acquiring and managing multifamily properties across Oklahoma, Kansas, and Arkansas. Its portfolio currently includes over 10,000 units across Class A, B, and C+ assets in Arkansas, Kansas, and Oklahoma.
Since its inception in 2017, Vesta has acquired more than 9,600 units valued at over $925 million across Tulsa, Oklahoma City, Wichita, and Little Rock.
Eschewing outsourcing in favor of vertical integration, Vesta Capital leverages its vast experience in asset and property management in its day-to-day operations, resulting in self-sufficiency, efficiency, and value for investors.
“Over the past five years, we achieved remarkable success at the Waterford community, delivering not only for our valued investors but also for the residents who call Waterford home," Mr. Kulick said. "At Vesta Capital, we don’t just invest—we lead, ensuring every investment aligns with our unwavering commitment to excellence and success.”
Interested parties can find more information about the real estate investment firm at http://www.vestarealproperty.com/
Contact Info:
Name: Mario Gipson
Email: Send Email
Organization: Vesta Capital
Address: 6911 S 66th E Ave Suite 100, Tulsa, OK 74133, United States
Website: https://www.vestarealproperty.com/
Source: PressCable
Release ID: 89134157
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