MIAMI, May 30, 2023 /PRNewswire/ — Last week Park-Equities announced the sale of a 96-unit hotel located in Tulsa OK. The firm began focusing on conversions during the pandemic as the affordable housing crisis continued nationwide coupled with poorly operating outdated hotels. The property was originally built as a Residence Inn with this being the third time the firm has sold a property of this build.
“If you can move through the complexities of rezoning and city approvals these Gen 1 Residence Inns are ideal conversions as they already possess the critical features for apartments having private entrances, full kitchens, and amenities” Grant said.
The property located at 8181 E 41st St. was sold to Aryn Spahr with SL Capital.
Park-Equities is currently active with further opportunities in Tulsa consisting of a luxury full-service hotel that also has a luxury apartment component. Please reach out to [email protected] if interested and well-capitalized.
The transaction was done in conjunction with Oklahoma broker Jennifer Stein Real Estate, Inc.
Park-Equities is a full-service real estate investment advisory firm with focus on the hospitality and multi-family markets. The firm is a subsidiary of Park Brokerage Inc. and together have completed transactions in volume of over 1B.
Originally published at https://www.prnewswire.com/news-releases/taylor-grant-park-equities-completes-sale-of-tulsa-oklahoma-hotel-as-apartments-after-successful-rezone-to-multi-family-6th-hotel-to-apartment-conversion-since-2021-301836697.html