EXECUTIVE SUMMARY:

Central Plaza represents an excellent investment opportunity in a phenomenal location. The community is centrally located in Edmond, Oklahoma across from the University of Central Oklahoma. Edmond is a suburb of the state capital, Oklahoma City, located north of I-44 between St Rd 77 and I-35. The downtown site of Central Plaza, off St Rd 77 west of I-35, not only has excellent access to key businesses and retailers in Edmond but has a multitude of desirable restaurants and shops within walking distance.

Central Plaza has undergone a series of renovations over the last 2 years, totaling over $800,000 of improvements to the units and common areas in this luxury property. Currently the community operates as a 133-unit / 280-bed student housing complex with 77 private units, 42 shared units, and 14 larger triple occupancy units. There is a 6,650 sq ft commercial space on the ground floor that is currently occupied by a spa. Occupancy has struggled under current management, despite the premier amenities and convenient location.

Originally constructed as a hotel, this opportunity is prime for a repurposing back to its original usage. Travel lodge has stated they would offer their flag with no additional PIP required. This flag can be applied to half or all of the building.

A leadership team with hospitality and/ or student housing experience has the opportunity of a lifetime to turn around this ideally positioned property. Repurposing the property as standard multi-family or seniors housing would also be an excellent usage of the asset, the location remains ideal when removing the college across the street from the equation for potential residents. Central Plaza is a beautiful property in a premier location, a worthy investment with limitless potential.