A joint venture takes over an Okla rental complex. City for $59 million

By Emma Whitford (April 11, 2022, 4:07 p.m. EDT) – A venture between New York-headquartered Exact Capital and Elevate Commercial Investment Group of Texas has purchased an 850-unit residential complex in Oklahoma City for $59 million. dollars, with plans for affordable housing, advised by Arnall Golden Gregory LLP.

Buyers will maintain all apartments as affordable, according to Exact Capital’s press release. A company spokesperson said Exact Capital and Elevate will participate in the federal Low-Income Housing Tax Credit program, which will place income restrictions on apartments for at least 15 years.

The seller is Accord Interests LLC of Texas. Director and founder Joseph Mansour did not…

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