Elkhorn Capital Partners has acquired Oklahoma City-based Quail Plaza Apartments, an apartment complex. No financial terms were disclosed.
OKLAHOMA CITY, Oct. 20, 2020 /PRNewswire/ — Elkhorn Capital Partners expanded its commitment to Oklahoma City with the acquisition of Quail Plaza Apartments.
Elkhorn, a Dallas-based real estate private equity firm, specializes in distressed-situation multifamily acquisitions. The firm began executing its strategic investment plan for Quail Plaza immediately upon acquisition, resulting in a twelve percent occupancy increase in the first month post acquisition. Even during COVID-19, the firm continues its pattern of success with renovating properties and improving quality of life for tenants.
Elkhorn has a track record of purchasing multifamily properties in distressed situations and revitalizing both the properties and communities that live there, creating a positive social impact on the area. Quail Plaza is in an exceptional location, which will be a strong addition to an already-robust portfolio.
Bruce Fraser, Managing Director at Elkhorn Capital Partners, states: “Quail Plaza is a great acquisition for Elkhorn. We are confident in our capability to apply our operational and management expertise to grow this asset into a thriving community. We are pleased that Elkhorn was able to step-in when the pre-COVID 19 contract fell-out due to investment environment concerns.”
Elkhorn Capital Partners oversees a group of limited partnerships focused on asset-backed investments, concentrating exclusively on multifamily real estate in economically insulated sub-markets within a multi-state region. Elkhorn’s principal has been a trusted fiduciary for over two decades. Elkhorn currently controls over 1,500 units in Oklahoma City and is actively looking to continue its rapid growth over the next few years.