CORE Pacific Advisors, an investment advisory firm and sponsor of 1031 exchange offerings, has fully subscribed Maywood Apartments, a Delaware statutory trust offering comprised of a 299-unit multifamily property located in Oklahoma City, Oklahoma.
The offering launched in early March 2022 and raised $33 million from accredited investors, and CM Pacific Capital represented the sponsor in its capital raising efforts.
The Maywood is comprised of a mix of studio, one-, two-, and three-bedroom units, as well as a small retail component with two onsite restaurants, Black Walnut and Grey Sweater, which both provide tenants with room service.
Amenities at the property include a swimming pool and sun ledge, a clubhouse with kitchen and terrace, outdoor fire pits, a fitness center, a game and media room, and a dog walk. The property is minutes from Downtown Oklahoma City, providing easy access to numerous entertainment venues, as well as restaurants and retail establishments.
“We are pleased to continue to offer quality multifamily and commercial real estate opportunities to our investors,” said Justin Morehead, chief executive officer of CORE Pacific Advisors.
In other company news, CORE Pacific Advisors recently sold CORE Vistas at Seven Bar Apartments, a legacy tenant-in-common multifamily property with 567 units located in Albuquerque, New Mexico. The property was purchased in December 2005 with $16.7 million of equity and sold for $128.9 million.
CORE Pacific Advisors, an affiliate of CORE Realty Holdings Management, sponsors 1031 exchange offerings, including Delaware statutory trusts and tenant-in-common structures.