Company News

Capital Assets Media Center

Capital Assets Pays $22.59M For Mountain Ranch Property

CAPITAL ASSETS INC. of Tulsa has added to its portfolio of Northwest Arkansas multifamily properties with a sizable acquisition in Fayetteville. Under the name Mountain Ranch Partners LLC, the company recently completed an allcash transaction valued at $22.59 million for the 360-unit Mountain Ranch apartment complex. That’s $71,803 per unit at the Class A development just south of the Wedington Drive/Interstate 540 exit. The ownership deed was filed at the Washington County Courthouse on April 12. It had a capitalization rate... more [+]

Doing it the Wright way

TULSA – Royce Wright entered the apartment industry enamored by the thought of building and filling cultural landmarks. But before his first projects even got off the ground, this son of a Nazarene minister found himself tossed out onto the street. With nearly every new position he tried over the next decade – and there were a bunch of them along a path that uprooted his family several times – Wright hit stumbling blocks and detours that could break the souls of most people. He endured criticism for not putting his career first. He watched his own firms struggle and fail... more [+]

Capital Assets pays $27.98M for four Tulsa apartment complexes

TULSA – Capital Assets paid $27.98 million for four Tulsa apartment complexes, with plans to spend $3.1 million renov ating the Class B properties. Capital Assets of Tulsa paid $7.47 million for the 328-unit Sand Dollar on the River apartments. Adding those 984 units brings the company to 5,043 under management in Tulsa and Oklahoma City, eclipsing the mark Vice President Greg Wright targeted two years ago for optimum critical mass. But with the national recession and continued tight credit making mortgage refinancing far more difficult, president Royce Wright anticipates... more [+]

Tulsa Firm Buys Texas Apartment Block

TULSA – Capital Assets paid $22 million for the 720-unit Windridge Apartments in Arlington, Texas. That marks the first out-of-state acquisi¬tion for the Tulsa-based multifamily opera¬tor, but Vice President Greg Wright said it will not be the last. With 710 units under management in Oklahoma City and more than 4,000 in Tulsa, Capital Assets hired 28-year indus¬try veteran Rosann Vaughn to direct its Oklahoma City and Dallas/Fort Worth properties. Vaughn is a past president of the Apartment Association of Central Oklahoma and vice president of the Oklahoma Multi Housing Association... more [+]

CAP Rates on the Rise - The Apartment Report

Cap rates inch closer to historic norms and open up the marketplace for deals prices at 2% to 3% higher caps from 2007 peak levels. While many previously active buyers are comfortable on the sidelines, KJO Investments LP, Capital Assets Inc., Campus Habitat, Olympus Property, Wesley Apartments and JV partner Westplan snap up deals bearing 6% to 8% cap rates. However, even though sizeable funds are available for opportunistic deals, rising cap rates will not necessarily equate to a shopping spress as many buyers still exercise vigilance in the volatile capital market with weakening renter demand...more [+]

Wrights Pay $8.1M for Tulsa Apartment Complex

TULSA – A group of Tulsa and New York investors paid $8. 1 million for the 272-unit Silver Springs Apartments in Tulsa, and a $1.5 million renovation is in the works. This marks the first of several multifamily complexes Greg and Royce Wright hope to acquire in this troubled economy with partner NDC Capital Partners of New York. “It was tougher to find the financing,” said Greg Wright, vice president of apartment management company Capital Assets of Tulsa. “We obviously were able to do the deal wi th SpiritBank. They gave us a great loan, but the options were less than normal... more [+]