Beverly Hills, CA, July 2021 – Monument Square Investment Group (“MSIG”), in conjunction with Red River Development (“RRD”, jointly the “JV”), has acquired an entitled 15.6-acre multifamily development site in Jenks, OK.
Monument Square Investment Group (“MSIG”), in conjunction with Red River Development (“RRD”, jointly the “JV”), has acquired an entitled 15.6-acre multifamily development site in Jenks, OK. The JV will immediately commence construction on The Cottages at Jenks, a 138-unit single family build-to-rent (‘horizontal apartment’) community (the “Project”). The Project, once developed, will be comprised entirely of market-rate units across a mix of one, two, and three bedroom detached apartment homes. The units will each feature private enclosed back yards, class-A interior finishes, and 9’6” ceilings throughout. The Project’s amenity set will include a state-of-the-art clubhouse, modern fitness center and resort-style pool. The Project is strategically located in southwest Jenks, an affluent community bordering south Tulsa, which boasts the highest-rated school system in the state of Oklahoma. The Project has direct access to Downtown Tulsa (±10 miles) and Tulsa Hills (±5 miles) via U.S. Route 75, and historic Downtown Jenks via State Highway 364 (±2 miles).
About Red River Development
Red River Development is a vertically integrated real estate development company with a focus on developing and operating Class-A build-to-rent (“BTR”) residential communities. RRD sees extensive market opportunity in the BTR space throughout the Southern and Midwest U.S. with several additional developments planned to break ground later in 2021 and beyond. RRD is headquartered in Dallas, TX with a second office in Tulsa, OK.
About Monument Square Investment Group
Monument Square Investment Group is a Beverly Hills, CA-based privately held alternative investment management firm exclusively focused on opportunistic U.S. real estate equity. MSIG’s focused and thematic investment approach is premised on identifying dislocations, acquiring assets that MSIG believes are undervalued by the capital markets and developing and/or repositioning assets that provide arbitrage-like risk-return profiles. MSIG leverages its unique investment theses and diverse network of strategic relationships to create joint ventures with best-in-class sponsors, aiming to consistently generate alpha throughout market cycles.
