Vesta Capital, a leading real estate investment firm specializing in multifamily communities, announced the successful sale of Waterford, a 344-unit property located in Tulsa, Oklahoma, bringing significant returns for investors.
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Following the announcement, the successful divestment of Waterford translated to a total project return of 21.8% and a project equity multiple of 1.92x. Acquired in late 2018 for $23,564,000 (or $67,500 per unit), the Waterford property was sold for $32,336,000 (or $94,000 per unit), a transaction that exemplifies Vesta Capital's commitment to maximizing investor returns.
More information can be found at https://vestarealproperty.com
Marc Kulick, founder and CEO of Vesta Capital, explains that his company saw tremendous potential in Waterford from the moment the property was put on the market. Over the past five years, Vesta invested in Waterford’s revitalization and succeeded not only in delivering significant returns for investors but also in fostering a thriving environment for residents.
Vesta Capital notes its vertically integrated approach is what sets them apart. They handle the entire process - from acquisition and renovation to ongoing property management, which enables them to uncover hidden value in properties while creating high-quality living spaces for residents.
The company boasts a robust portfolio exceeding 10,000 units across Class A, B, and C+ assets strategically located in Arkansas, Kansas, and Oklahoma. Beyond financial results, Vesta Capital has also expressed its commitment to delivering an exceptional living experience for its residents.
Vesta strategically focuses their investment activities in the communities of Tulsa, Oklahoma City, Wichita, and Little Rock, which were identified after extensive analysis for their risk-adjusted return potentials.
The firm also cites its property management expertise as one of the features that gives it a significant edge in the market. Through Vesta Realty, the company’s fully owned property management company, Vesta oversees every aspect of their properties in-house, ensuring full operational control, real-time monitoring of onsite activities, and resident satisfaction.
Looking ahead, the company remains optimistic. "We have ambitious plans for 2024," shares Kulick. "Our focus lies on increasing investor liquidity through sales and refinances, presenting compelling new investment opportunities, and further strengthening our property management team."
About Vesta Capital
Vesta Capital is a privately held real estate investment firm specializing in acquiring and managing multifamily properties across Oklahoma, Kansas, and Arkansas. Their approach involves stringent selection processes with a focus on sourcing off-market deals to ensure acquired properties excel in diverse market conditions.
Since its founding in 2017, Vesta Capital has acquired over 9,600 units with a combined value exceeding $925 million. Their core objective is to identify properties with the potential to maximize investor returns.
For more information, visit www.vestarealproperty.com
Contact Info:
Name: Mario Gipson
Email: Send Email
Organization: Vesta Capital
Address: 6911 S 66th E Ave Suite 100, Tulsa, OK 74133, United States
Website: https://www.vestarealproperty.com/
Source: PressCable
Release ID: 89126993
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