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Q: Finding the right institutional real estate buyers. ( Answered 4 out of 5 stars,   1 Comment )
Subject: Finding the right institutional real estate buyers.
Category: Business and Money
Asked by: scotty9999-ga
List Price: $200.00
Posted: 19 Aug 2005 04:23 PDT
Expires: 18 Sep 2005 04:23 PDT
Question ID: 557622
We believe it is timely to sell property in Oklahoma City that has
been in our family for 50 years. It is a city block located in an old
brick warehouse
district turned entertainment-district in the last couple of decades. 
Hundreds of millions of dollars have been spent in the area, now
called "Bricktown", and it is creating a buzz nationally.  My question
is...can someone provide me with a comprehensive list of institutional
real estate investors worldwide (including contact names and phone
numbers, emails would be ideal) who specialize in buying these types
of properties in order for me to optimize the price and likelihood of
a sale for my family?

Request for Question Clarification by nancylynn-ga on 25 Aug 2005 08:35 PDT
Hello scotty9999-ga:

I'm researching your question and it would help me to know:

1) What the property is: are you saying your property is a "city
block"? (Looking at a map of Bricktown, the district looks larger than
one city block!)

If I misunderstood you, can you tell me if your property is an empty
lot, or is it a building or a group of buildings? If the latter, has
the building (or buildings) been occupied lately? Is it in good
condition or will it need to be renovated just to bring it up to code?

2) What is the property valued at? (Many institutional real estate
buyers only deal in properties valued at a minimum of $10 million to
$20 million.)

Thank you,

Google Answers Researcher

Clarification of Question by scotty9999-ga on 25 Aug 2005 11:21 PDT
Our property is a city block among many city blocks in Bricktown,
albeit the only one left that has just one owner.  The legal
definition is "Lots 1-28, Block 30, Military Addition of Oklahoma
City, Oklahoma County, Oklahoma.

There are seven buildings on the property of which 4 are improved and
leased. The Net Income of the leased space plus parking yields
approximately $700,000 annually.

The property is worth whatever a willing buyer will pay!  However, a
better answer to your question may be that we would not recomend a
bidder waste time traveling to OKC unless they were willing to pay
something in excess of $8,000,000 and there will be other bidders.

Hope this helps and thanks!

Request for Question Clarification by nancylynn-ga on 25 Aug 2005 15:11 PDT
Thank you for getting back to me so promptly.

That's quite a parcel of real estate! The seven buildings,
particularly the four that are in prime condition, are they office
buildings, restaurants, etc.?

Thanks again,

Google Answers Researcher
Subject: Re: Finding the right institutional real estate buyers.
Answered By: nancylynn-ga on 26 Aug 2005 00:45 PDT
Rated:4 out of 5 stars
Hello again scotty9999-ga:

I suggest that you start, if you haven?t already done so, by 


Property values in Bricktown do fluctuate, despite a significant
overall rise in value. If you want to be confident about what your
property is worth, you may want to have it appraised.

Check out the article ?Factoring Bricktown investment variables: 'Hit
or miss property' still attracts national attention,? By Brandice J.
O'Brien, published in OKC?s The Journal Record on January 28, 2005,
and archived at the Appraisal Institute:

?In Bricktown, it is not uncommon to see one building go for $150 per
square foot and the one right next door, sell for $30 per square foot
. . .?

" ?Property values increase on a discrete basis," Ainsworth said.
[Real estate investor Charles Ainsworth, whom I listed for you,
below.] ?It's hard to generalize on property values.? ?

? . . . Despite the unstable business, Bricktown's price per square
foot is about $20 more now than it was five years ago.

 ?In 2004, Joseph Chiaf purchased 6,500 square feet of space at 312 E.
Sheridan Ave. for $86 per square foot, totaling $559,000, according to
information compiled by the county assessor's office. In 1999, 310 E.
Sheridan LLC bought 6,500 square feet at 310 E. Sheridan Ave. from
David Nebham of Nebham LLC. A square foot cost $69.23 and the total
price was $450,000.?

So, before you contact real estate firms, you may want to get an
estimate from the Oklahoma County Assessor's Office:

Or, you may wish to hire a certified appraiser. I searched the
American Society of Appraisers:

There, I found I found two appropriate candidates for you who
specialize in urban properties in OKC:

Lee R. Caesar, Sr. 
Marion L. Kordic

You can find listings for many more appraisers at the Appraisal
Institute. At the home page:
Just type in the city and select the state at top left, where it says
?I Need an Appraiser.? That will bring up several pages of  OK
appraisers and their specialty areas.



These firms are located in, and have already purchased properties in,
OKC and/or Bricktown, so they should be very interested in talking to
your family.
Ainsworth Frankenfield, Ltd.:

Ainsworth Frankenfield owns, and is developing, several Bricktown properties:

Contact Information:
Phone: 405-235-6300 or 405-232-9975

Price Edwards & Company:

Their transactions include OKC?s Bank One Tower and Union Plaza.  See
a list of all of their ?Premiere Transactions? at:

Egressive Commercial Realty:
15 N Robinson Ave., Suite 700
Oklahoma City, OK 73102
Phone: 405-232-4700 	
Contact: John Maisch or Con Rice.
(It appears they don?t have a Web site.) 


CB Richard Ellis (CBRE):

CRBE is a global company, headquartered in Los Angeles.

CBRE also has an Oklahoma division, with offices in both Tulsa and OKC:

Contact Information for the OKC office:

See CRBE?s ?Acquisitions? page:

Ellis has brokered several major deals in OK.  See this July 20, 2005
press release, published at OKCBusiness:

?CB Richard Ellis/Oklahoma part of $1.3 billion national sell-off,
including 2.3 million square feet in Oklahoma:?
And this March 4, 2004 article from Durocher's OKC Business NewsWire:
?Developers to purchase former Lucent site,? written by Pamela Grady,
reprinted at OKCBusiness:

Kennedy Associates Real Estate Counsel, Inc.

Acquisition Criteria:

You?ll see that William F. Heap is identified as the head of the
Dallas/Midwest office. His background, and contact information, can be
found at this page:
Canyon Capital Realty Advisors:

You?ll see that they?re very diversified: ?These investments cover a
wide range of real estate property types including retail,
entertainment, multi-family, industrial, office, hospitality . . .?

Contact Canyon:


Kensington Realty Advisors:
They specialize in housing and industrial. Be sure to click on ?Other
Property Types.?

They have offices in Chicago and California. Contact information:

The acquisitions manager is James S. Smith. His contact information
can be found here:


Marcus & Millichap:
You?ll see a list of key personnel at that page, with hyperlinks to
each person?s contact information.

For a map of their offices nationwide, see:


KBS Realty Advisers, which buys properties nationwide:

?Scope of Services?: 

?Institutional Seller Relationships?:

Contact Information:
Scroll down to ?Acquisitions/Dispositions? contact names and info.
You?ll see regional managers for both the Central U.S. and the
Southwestern U.S.


Trademark Property Company, which operates primarily in the Midwest
and Southwest and which focuses on ?retail and mixed-use properties?:

Contact Information:

Jeff Allen is Director of Acquisitions. His e-mail address is:


L&B Realty Advisers has retail, office, and residential properties nationwide:

L&B?s page on Acquisitions:

Contact/Office Location Information:


Robert K. Futterman & Associates (RFK):

Based in New York City, RFK operates nationally:

?RKF is at the leading edge of all that is retail real estate -
spotting trends, identifying leasing and investment opportunities,
providing exceptional service, and playing an integral role in the
success of our clients' and customers' businesses.?

Disposition Services:

Contact Information:

They don?t have any OK properties, but since they like ?trendy? and
urban, they may well be interested in Bricktown.

Helpful Resource:
RentLaw?s glossary of real estate terms (e.g. ?core? and
?value-added?) is helpful for deciphering real estate jargon:

Search Strings:

real estate prices AND Bricktown AND Oklahoma
"institutional real estate buyers" AND Bricktown AND Oklahoma
institutional real estate buyers +Bricktown +Oklahoma
"institutional real estate buyers" AND entertainment OR high-end retail
"institutional real estate" AND entertainment district OR commercial AND Oklahoma
"institutional real estate" AND commercial AND Oklahoma
"institutional real estate" AND Oklahoma

Other resources were found at DMOZ?s ?Open Directory: Business:
Investing: Real Estate: Commercial?:

And at Re Buz?s directory of ?Institutional Real Estate Investment Managers?

I hope my research is of help to you. If you have difficulty
navigating any of the above links, please post a ?Request For
Clarification,? and I will assist you.

I wish you great success with your business venture.

Best Regards,

Google Answers Researcher

Request for Answer Clarification by scotty9999-ga on 30 Aug 2005 03:28 PDT
Thanks for the work to date.  You are nibbling around the edges of
what I need but you are getting closer.  Much of what you suggested I
already knew...regarding getting an appraisal, Chuck Ainsworth is a
friend of mine, the local brokers who are involved in Bricktown
(ironically, Price Edwards boasts about the Union Plaza building...we
bought it 10 years ago and brought them in!  They then sold it for us
at a wonderful profit.) all of that is good but what I really
need is the NATIONAL players who specialize in developing unique
properties like our city block, not local, I got that covered.

Your list of National Institutional Real Estate Buyers is the sweet
spot.  So you will know, I have reviewed their websites and it seems
to me that only Trademark and Marcus & Millichap are candidates for
the list I am building.  The last 2 websites will take me a while to
get through!

If I could be so bold, could you give it one more try?  Buzz words for
your search perhaps should include..."Mixed Use"...."Urban
Center"...."Warehouse Districts"...."Entertainment
District"..."Downtown Living"..."Urban Development".

Again, thanks for your help.

Clarification of Answer by nancylynn-ga on 30 Aug 2005 17:49 PDT
Hello again:

I?m sorry that some of the resources I listed were a bit off-target. I
figured it was logical to begin with, and concentrate on, companies
that are located in, or involved in, OKC and Bricktown real estate
development. I should have assumed you were already aware of those

I have found some additional resources, using the keywords you
suggested. I did use ?entertainment district? in my initial search,
and was able to find only a few matches, and didn?t have much luck
with it this time either. Same for ?warehouse district.? The more I
try to narrow and specify the query, the fewer hits I get,

I?m afraid that this is the type of research project that just
involves a lot close, but not perfect, matches -- and a lot of

Here are the additional resources I found for you: 

?Hines has developed art museums and civic centers, educational
facilities and athletic arenas, residential communities, and major
retail centers.?

Contact Information:
Chris Hughes 
Senior Vice President
555 13th St., N.W., Suite 1020E
Washington , DC 20004-1109
Tel: 202-347-6337 Fax: 202-347-2802 
E-mail Address:

Property Reserve Incorporate (P.R. I.), of Salt Lake. (The ?real
estate investment affiliate? of the Church of Jesus Christ of
Latter-day Saints.)

P.R.I. has a solid track record in downtown urban redevelopment
projects in Salt Lake City and in Durham, North Carolina.

See this August 21, 2003 press release, Church Supports City's Current
Downtown Revitalization Policy,? from the Church of Jesus Christ of
Latter-day Saints:,15503,4085-1-17494,00.html

Also see this article ?Large investors keen on area office market,?
written by Richard R. Rogoski, published in the Triangle Business
Journal, July 18, 1997:

?The sale, last December, of the five-building, 301,750-square-foot
Quadrangle Office Park in Durham. It was purchased from Burlington
textile executive Maurice Koury by Salt Lake City-based PRI Inc.,
which represented the Church of Jesus Christ of Latter-Day Saints
(better known as the Mormons). The office park went for $34 million in
an all-cash deal.?

Contact Information for Property Reserve Inc. (P.R.I.):
150 Social Hall Ave
Salt Lake City, UT 84111-1534  
Phone: 801-240-5862


Tishman Speyer (International):
U.S. Properties:

Acquisition & Development:

?Since 1978, Tishman Speyer has acquired, built or developed more than
131 commercial, residential and mixed-use properties totaling over 74
million square feet across the United States, Europe and Latin

Case Studies:

Contact Information:


Transwestern Commercial Services (national, based in Las Vegas):

They have a lease property in Tulsa:
Unfortunately, you can?t see just what it is, but at least we know
they operate in Oklahoma (!). Apparently, the Tulsa project ? whatever
it is ? is under the auspices of the company?s Dallas office.
For Sale Properties:

Development (See ?Case Studies?):

Contact Information:

Dallas Office:

Contact: Jack Eimer 
Phone: 972-774-2500 
Fax: 972-991-4247 


BlackRock, headquartered in Morristown, NJ, with offices nationwide:

? BlackRock Realty, the real estate equity arm of BlackRock, Inc., is
a national real estate advisor offering a broad array of strategies
and investment management We are interested in acquiring
institutional-quality properties in four major sectors: apartment,
office, industrial and retail.?

Scroll down to page 2 of this brochure to see the types of properties they buy.


Fred Lieblich 
CEO & President, BlackRock Realty 
10 Park Ave. 
P.O. Box 2346 
Morristown, NJ 07962-2346 
Tel: 973-355-4564 Fax: 973-355-4699
E-mail Address:


Triton Pacific:
Target acquisitions include ?Industrial (Light Ind. /Warehouse Dist.)?

(See contact names and information at the bottom of this page.)

Contact Information:
David Lawson appears to be the best contact for you.

Trammell Crow Company (national, based in Dallas):
?Trammell Crow Company specializes in blending office, retail,
housing, and civic venues within organized public gathering spaces
through our leading-edge master plan/master developer services and
residential development expertise. Residential development is
orchestrated through our wholly owned subsidiary company, High Street
Residential?, which is focused on resurrecting old or creating new
urban neighborhoods to provide more environmentally sound,
user-friendly communities.
?With the capability to develop unique mixed-use communities?such as
urban infill, edge city, and the adaptive re-use of historic buildings
. . . places us at the forefront of the residential and mixed-use
development industry.?
Case Studies:



Lowe Enterprises:

Contact Information:


UBS Realty Investors LLC:
UBS Realty, a leading investor in real estate, actively seeks
investments in apartment, office, retail and industrial properties
throughout the United States.

Acquisition Criteria:

Contact Information:


DRA Advisors:

Sampling of Properties:

Acquisitions Contacts:


Principal Global Investors:
Recent Acquisitions:

Contact Information:



Acquisition Criteria:

Contact Information

Grub & Ellis:

?Our listings include everything from Class A office space to high-end
retail locations to industrial parks. And we offer locations in
markets large and small from coast to coast.?

Featured Listings:



The following two leads operate just on the cusp ? geographically ? of
OK, but may be interested since Bricktown has attracted so much
interest within the industry:

Thermo Development, Inc.

?In the mid 1990's, the company purchased two city blocks located in
the lower downtown area (LODO) of Denver, Colorado. LODO was
experiencing a robust residential building boom with many former
warehouses being converted into residential lofts. With the popularity
of downtown living at an all-time high, retail and office demand also
increased substantially.?

Operates in the Western U.S. Contact their Denver office:


Parmenter Realty Partners, based in Miami:

?Property type
80% Commercial Office (primarily Class A, some Class B); 20% Urban
Infill. May be multi-family residential, mixed-use, or retail.?
You?ll note on this page: ?Geography
Target area includes Florida north to Virginia and west to Missouri
with a particular focus on metropolitan statistical areas (MSAs) of
1,000,000 people . . .?

However, Parmenter currently owns two Texas properties, so they seem
to be moving in a southwesterly direction:,1682&LogRedirect=1
(Scrolling down that page you?ll see they have properties scattered
across the U.S.)


Search Strings:

"institutional real estate" AND acquisitions AND "warehouse district"
institutional real estate +mixed use
national institutional real estate AND buyers AND mixed use
institutional real estate AND buyers AND mixed use
institutional real estate AND buyers AND urban development
institutional realty development
urban complex +developer
downtown renewal +real estate
institutional real estate +mixed use
institutional real estate +urban complex
national institutional real estate +warehouse district
institutional real estate +downtown living

I hope these additional resources are helpful.

Best Regards,

Google Answers Researcher
scotty9999-ga rated this answer:4 out of 5 stars
****  Thanks for the help, please send me an invoice so I can pay you.
 Make it out to The Mull Corporation.

Subject: Re: Finding the right institutional real estate buyers.
From: nancylynn-ga on 01 Sep 2005 19:53 PDT
I receive my payment directly from Google Answers. (I receive 75% of
the fee you agreed to pay Google Answers when you posted your question
and submitted your credit card info.)

You may wish to review the "Your Account" section of the FAQ, at:
You'll see it isn't necessary for me to send you an invoice, but thank
you for your concern.

Best Regards,
Google Answers Researcher

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