Dallas Developers Purchase Apartments in Oklahoma City
Dallas, TX – A partnership controlled by Dallas based real estate developers Roger Gault of Gault Company and Robert Gunby with RTG Capital LLC has purchased an apartment property in southwest Oklahoma City. Financial terms of the deal were not released. The Spring Hill Apartments located at 4708 SE 44th Street consist of 107 units and will entail major remodeling estimated to take 8-10 months. The developers plan to rebrand the property. A dog park and other amenities will be added or upgraded.
“The Oklahoma City multifamily market has remained fairly stable throughout the Covid-19 crisis, and we believe by the time we complete our renovations the timing will be perfect for repositioning this property as the market improves in 2021,” Gault stated.
Gault and Gunby have undertaken many multi-family rehab projects and also ground-up development projects over the last 10 years, along with retail, hotel, office and industrial projects. Roger Gault of Gault Co. has been a developer in the Dallas area for more than 30 years. RTG Capital has been in business since 2009 and is headed by Robert T. Gunby.