REAL ESTATE NOTES
CBRE brings ‘urban core’ portfolio to market
CBRE Group Inc. has put a 13-property “urban core” multifamily and mixed-use portfolio on the market for sale or recapitalization, including The Lift Apartments in Oklahoma City, for Indianapolis-based developer manager Milhaus.
All of the properties are new or recent construction with the oldest completed in 2013. The Lift, 801 NW 10, opened last year. The properties are in prime locations with high walkability. The portfolio comprises 2,300 apartments and 122,456 square feet of commercial space. Eight of the properties are in Indianapolis. In addition to Oklahoma City, the others are in Memphis, Milwaukee, Cincinnati and Louisville, Kentucky.
“This portfolio spans a broad range of dynamic submarkets in metros that are still emerging,” said Steve LaMotte, ,a senior vice president in CBRE’s Indianapolis office. “The Urban Core Portfolio is a rare opportunity to deploy a critical mass of capital in newly constructed, best-of-class assets.”
OKCFD improves score on fire hydrants
The Oklahoma City Fire Department said it recently achieved an important rating for fire protection capabilities that could help residents and business owners keep costs down for property insurance premiums. For the first time, the department achieved the highest Insurance Services Office rating for fire protection for parts of the city with fire hydrants.
ISO is a company that calculates ratings on a scale of 1 (highest) to 10 (lowest) that many insurance providers use when assessing risk and calculating premiums. Oklahoma City is now rated a 1 in areas with hydrants.
The city’s previous ISO score for areas with fire hydrants was a 3, and had been for many years. Of more than 46,000 municipalities rated by the ISO, only 241 have the top rating, Fire Chief Keith Bryant said.
Conference to focus on livable communities
NORMAN — Experts on designing livable and healthy communities will headline the University of Oklahoma Institute for Quality Communities’ Placemaking Conference April 3 at OU.
The conference will begin at 9:30 a.m. in the Paul F. Sharp Concert Hall in Catlett Music Center, 500 W Boyd St. The keynote luncheon will be in Oklahoma Memorial Union, 900 Asp Ave. Reservations are required for lunch. Buses will be available to transport conference attendees to and from Catlett Music Center and Oklahoma Memorial Union.
The featured speaker at the keynote luncheon will be Jim Brainard, mayor of Carmel, Indiana, presenting “Leaderrship in Placemaking.” Brainard spearheaded revitalization of Carmel’s Old Town area into an Arts and Design District. Seven industry leaders from across the country will give their perspectives on improving community planning, design and governance.
To make reservations, or for more information, call the OU Office of Public Affairs at 325-3784 or email specialevents@ou.edu. For information on the Institute for Quality Communities, to register online and see a complete schedule of events, go to iqc.ou.edu/conference.