Northmarq Midwest Investment Sales team announces sale of Pines at Southridge in Tahlequah, OK

TAHLEQUAH, Okla. (Nov. 21, 2024) — Northmarq’s Midwest Investment Sales team led by Parker Stewart, Dominic Martinez and Benjamin Davis successfully completed the sale of the Pines at Southridge, a 312-unit multifamily community located at 201 Southridge Rd. in Tahlequah, Oklahoma.

Northmarq represented the seller, a West Coast private capital group. The buyer was Haley Real Estate Group of Omaha, Nebraska.

“We are pleased to assist our client in the sale of Pines at Southridge as they capitalize on their investment strategy for the asset,” Stewart said. “We received interest from investors from across the country who were drawn to this substantial asset with a clear upside strategy.”

“All 18 of the offers we received were from buyers who have never invested in Tahlequah — a testament and example of the ‘flight to quality’ we have seen in this market,” Martinez said. “We are seeing significant interest in the 1990s to 2000s space across the Midwest, despite the tertiary nature of many of these markets, as investors appreciate the long-term upside potential and strong market rent growth, which is outpacing many regions.”

“Tahlequah is a unique market with strong demand drivers that will fuel long-term growth including an increasing population, high percentage of renters and expanding higher education sector,” said Davis.

Pines at Southridge features studio, one-, two- and three-bedroom apartments with large open floorplan layouts, updated appliances and countertops, spacious kitchens and full-sized in-unit laundry. Community amenities include a modern clubhouse with a kitchen and free Wi-Fi, two saltwater pools with sundecks, a state-of-the-art fitness center, free tanning beds, 24/7 emergency maintenance, courtesy patrol officers, free resident activities and is pet friendly.

Located in Tahlequah, the property is in a growing community of 16,500 at the foot of the Ozark Mountains. The area features a high quality of life, outdoor attractions with Lake Tenkiller and the Illinois River, and a roughly commute to Tulsa. Pines at Southridge is located a block off U.S. Highway 62 and nearby shopping, restaurants, coffee shops and schools.