Tulsa’s cooling multifamily market in 2025 couldn’t stop the sale of the 467-unit Cedar Park Apartments, a $31.25 million acquisition by Atlas Property Management that required critical financing and saw substantial investment from the seller.
Atlas, which has served the Tulsa and Broken Arrow markets since 2002, according to its website, purchased the property from Gold Wynn, which has a regional office in Tulsa. The deal, which CoStar data shows took place in July, was financed by a loan of more than $27.1 million, showcasing lender confidence in the complex.
Before marketing the complex, which sold for $66,916 per unit, Gold Wynn invested $4 million in the development, enhancing building systems, improving interiors and adding amenities, which gave Atlas confidence in the purchase.
The transaction was done via an entity transfer structure, which added complexity and required due diligence from all parties. The acquisition earned a 2026 CoStar Impact Award, as judged by real estate professionals familiar with the Tulsa market.
About the project: First built in 1970 and later renovated in 1999, according to CoStar, the complex sits on 19.93 acres about nine miles southeast of downtown Tulsa. Units range from 603 square feet to 1,438 square feet with rents ranging from $852 to $1,567 per unit.
What the judges said: “This sale stands out for its transactional complexity and scale,” said Meagan McCollum, director of the Center for Real Estate Studies at the University of Tulsa. “With many policymaker and developer eyes on the Tulsa MSA multifamily sector, this sale buoys the Tulsa market as an attractive place to make capital investments in multifamily properties.”
They made it happen: Colliers' Ryan Gorman, Mike Marrara and David Dirkschneider represented both the buyers and sellers in the transaction.