For July of 2020, Price Edwards & Company had a total of 28 transactions. We had a total sales volume of $2,475,000 and we leased a total of 62,167 SF. We are thankful for the transactions we completed in July and are excited to see what August holds.
A few of our highlighted transactions are below:
$1,350,000 for 6,262 SF of Office Space
Not another blog about Covid! Although I wrote about the potential uncertainty about the Covid induced economic crisis back in March, I am revisiting it in a different context this time.
It seems that everything you hear about today is Covid. While there are plenty of things going on in the Multifamily world right now, it seems like we should at least touch on the topic of Covid (again), as it is here and has been with us maybe longer than we expected.
For June of 2020, Price Edwards & Company had a total of 29 transactions. We had a total sales volume of $4,394,000 and we leased a total of 58,852 SF. We are thankful for this past month of transactions and are looking forward to what all July brings! Please see a few of our highlighted transactions below!
$2,365,000 for 100-Unit Apartment Complex
The successful reopening of apartment communities is critical not only to making things start to feel like normal but also to putting the economy back on track. For that to happen, apartment professionals need a plan that will allow things to slowly open up with minimal risk but let things get back to business as usual. Due to the board array of properties, a one-size-fits-all approach to planning the reopening is highly discouraged. Companies are encouraged to take the suggested operating models and footprints then adapt them to their needs based on their size and use.
Price Edwards Brokers $5,500,000 Sale of Mayfair Village located at NW 50th and May Avenue, Oklahoma City, Oklahoma
As multifamily brokers, we consistently hear from buyers searching for value-add properties. However, increasingly, we are beginning to hear discouragement there are no more value-add deals to be found. The per unit prices in Tulsa and Oklahoma City are accelerating into all-time highs; currently they are in the low $60,000 per unit range. While this escalation of prices may seem discouraging at first, prospective buyers need to realize that there are still opportunities to be found.
Pam Billings honored with award at national summit
A Price Edwards employee will be honored this weekend for her service to others at the Annual Lung Cancer Advocacy Summit in the nation's capital. Pam Billings, Property Manager at the Douglass and the Douglass Next Door, is a lung cancer survivor, and along with three other women, she created Oklahoma's only lung cancer survivor support group.
"We're so proud of Pam, and her selfless efforts," says Becky Sesock, Price Edwards Senior Vice President of the Multifamily division.
I have a lot of conversations about apartments every day. Within minutes of a conversation, it is easy to spot who knows what they are talking about and who does not. Knowing what to say and understanding the vernacular is part of the process. These are words or phrases that I often say and realize that not everybody knows what I am talking about. In an effort to create the universal translator for apartment investing, the following are phrases that you will often hear and their explanation.