Citi Provides $49M Loan for Group RMC’s Tulsa Office Portfolio Buy
“This portfolio represented a significant opportunity to acquire a high-profile selection of quality office assets located in Tulsa’s affluent southern submarkets,” Schwartz said. “Offering a combination of low-, mid- and high-rise office space, the buildings appeal to a broad array of tenants as an economic alternative to the area’s higher-priced office assets.”
Group RMC purchased the portfolio from Landhuis Company, paying $64.9 million, sources said.
The properties comprise 1 million square feet and include the 189,124-square-foot Towne Center, 10810 East 45th Street; the 166,754-square-foot Exchange Tower, 4500 South Garnett Road; the 138,708-square foot Triad Center 1, 7666 East 61st Street; and the 134,941-square-foot Two Memorial Place.
In August 2018, JLL also arranged a $63 million loan for Group RMC’s purchase of a Chicago office complex, and earlier this week the brokerage negotiated a $53 million loan for its acquisition of Grand Oak Business Park, a 10-building campus at 860 Blue Gentian Road in Eagan, Minn. Morgan Stanley providing the financing on both occasions.
A spokesman for Citigroup declined to comment. Group RMC officials could not immediately be reached for comment.