Vesta Capital Announces Successful Sale of Waterford Multifamily Asset in Tulsa

Tulsa, Oklahoma--(Newsfile Corp. - February 16, 2024) - Vesta Capital is pleased to announce the successful sale of the Waterford Multifamily Asset in Tulsa, bought in 2018 for $23.56 million. The Waterford community experienced a remarkable revitalization thanks to Vesta Capital's investment, with strategic upgrades that enhanced resident living experiences and propelled its market value. The recently completed $32.336 million divestment yielded a 21.8% total project return and project equity multiple of 1.92x, the real estate investment firm said.

For more information, visit https://www.vestarealproperty.com.

Vesta Capital Announces Successful Sale Of Waterford Multifamily Asset In Tulsa

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With the recent announcement, Vesta Capital wants to demonstrate its commitment to creating vibrant communities. The company's property management knowledge, applied across 10,000+ units in Arkansas, Kansas, and Oklahoma, ensures residents enjoy quality living experiences.

The founder and CEO of Vesta Realty and Vesta Capital Mark Kulick said: "Waterford wasn't just an investment; it was a labor of love. We poured our hearts into nurturing this community, and watching it flourish has been a personal triumph. From day one, we knew it held immense potential, and seeing it realized is truly humbling."

The CEO also believes that the successful sale of Waterford in 2024 and previously the sale of Sycamore Farms in 2023, both of which are over 300-unit apartment complexes, confirms Vesta Capital's ability to identify, acquire, and optimize high-performing assets, even in difficult economic times.

Furthermore, by concentrating on multifamily assets in Oklahoma, Kansas, and Arkansas, Vesta Capital has developed strong relationships with regional lenders and investors, the team says. Building this network helps it pinpoint lucrative investment opportunities before they become widely available.

About Vesta Capital

Founded as a private entity, Vesta Capital invests in and manages multifamily properties located in Oklahoma, Kansas, and Arkansas. With a strong emphasis on underwriting standards and market conditions, Vesta purchases properties that can potentially provide high returns for investors. The company's portfolio has grown to over 9,600 units valued at more than $925 million, positioning it as a significant player in its local market.

"Looking ahead, we plan to leverage our financial strength and market knowledge to offer exciting new investment opportunities and further refine our property management practices, ensuring continued success for all stakeholders," Kulick added.

Interested individuals can find more details by visiting https://www.vestarealproperty.com.

Contact Info:
Name: Mario Gipson
Email: mgjpson@vestarealproperty.com
Organization: Vesta Capital
Address: 6911 S 66th E Ave Suite 100, Tulsa, OK 74133, United States
Website: https://www.vestarealproperty.com/

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