Newmark Arranges Sale of 612-Bed Community Near the University of Oklahoma 

Norman, Okla. — Newmark Multifamily has arranged the sale of The Flats at Norman, a 612-bed student housing community located near the University of Oklahoma campus in Norman. Ryan Lang, Jack Brett, Ben Harkrider and Tim McKay represented the seller, Horizon Realty Advisors, in the transaction. Cardinal Group acquired the property for an undisclosed price. Constructed in 2005, the community underwent $3.5 million in renovations in 2017. The property offers a mix of two-, three- and four-bedroom units, which were 99 percent occupied at the time of sale. Shared amenities include a fitness center, tanning salon, virtual fitness classes, a yoga studio, resident clubhouse and game area. The community also offers private shuttle service to and from campus and the local Walmart.