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Houston firm buys Tulsa apartment complex for $20.55 million
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Houston firm buys Tulsa apartment complex for $20.55 million

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Echo Trail Apartments

Shakiba Capital of Houston has purchased Echo Trail Apartments in Tulsa.

A Houston private equity real estate firm has purchased a multifamily complex in Tulsa.

Shakiba Capital recently bought Echo Trail Apartments, 6326 S. 107th East Ave., for $20.55 million ($86,625 per unit). McGraw Multifamily represented both the buyer and the seller in the purchase of the 240-unit facility.

Trevor Shakiba quote: "We are thrilled with this acquisition for our portfolio," Trevor Shakiba, of Shakiba Capital, said in a statement. "We absolutely love the location and have big plans to improve the community in a multitude of ways. This gives us additional exposure to the Tulsa market which we think is primed for significant growth in the future."

It is the fifth time McGraw has represented Shakiba in a multifamily transaction. It also represented the Houston company's third acquisition in Tulsa and its first in the sub-market of the Union Public Schools district.

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