(OKLAHOMA CITY) – Hines, the international real estate firm, announced it will partner with Humphreys Capital to develop The Residences at Classen Curve in the Nichols Hills submarket of Oklahoma City.
The Residences at Classen Curve will be a five-story multifamily project with 325 for-rent units and will be Hines’ first multifamily project in Oklahoma. The project will be situated immediately adjacent to Whole Foods and Trader Joe’s within a vibrant high-end lifestyle retail center. The Residences at Classen Curve will be the only Class A community in Oklahoma City with walkability to a grocery store, and it will also be walkable to over 15 restaurants and multiple fitness concepts.
“We are privileged to be partnering with Humphreys Capital and are excited to continue the successful relationship in our second joint venture together,” said Hines Managing Director David Bach. “Hines is also proud to continue expanding our footprint in Oklahoma City, after the successful developments of Devon Energy Center and Bank of Oklahoma Park Plaza.”
“We are excited to add a residential component to the highly successful Classen Curve retail center,” added Hines Director Gregory McHenry.
“We are very pleased to once again work with Hines, a world-class developer with whom we have built a great relationship,” said Todd Glass, senior managing director of investments at Humphreys Capital. “It is particularly gratifying to collaborate on an exciting project in our own backyard, on a unique infill site that will help meet Oklahoma City’s growing housing needs.”
Hines has engaged Dwell Design Studio (Dwell) as the Architect of Record for the development project. Dwell offers expertise in stick-wrap residential design, with deep experience throughout the Southeast and Southwest United States.
Units will average roughly 900 square feet and the project will feature resort-style amenities including: a private fitness center, private amenity courtyards, pool, club room, coworking lounge, dog run, package facilities and significant bicycle storage to take advantage of adjacency to the Lake Hefner bike trail.
Construction on The Residences at Classen Curve is slated to begin in 2020 with occupancy in late 2021.
About Humphreys Capital
Humphreys Capital is a real estate investment company that acquires, develops and operates income-producing, multi-sector properties including industrial, multifamily, office and retail. The firm’s investment and development focus is on dynamic cities exhibiting diverse growth across the Southeastern and Southwestern United States, where it specializes in privately negotiated off-market, mid-size deals of institutional quality. The multigenerational team provides seasoned expertise and exposure to diversified commercial real estate for accredited and institutional investors. The firm has raised approximately $250 million over five years across three funds. Visit www.humphreyscapital.com for more information.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world. Visit www.hines.com for more information.