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Steadfast Income REIT Acquires Sonoma Grande in Tulsa, Okla.

TULSA—Steadfast Income REIT Inc., an Irvine, Cali.-based real estate investment trust, has acquired Sonoma Grande, a 336-unit garden-style apartment community in Tulsa for $32.2 million. It is the third acquisition in the state for the company.

Built in 2009, Sonoma Grande consists of 13 three-story residential buildings on a 20-acre site.

Currently 91 percent occupied, the garden-style property offers one-, two- and three-bedroom apartments that average 1,130 sq. ft. of space. Apartments are outfitted with ceramic tile kitchens, bathrooms and foyers; full-sized washers and dryers; walk-in closets; and private balconies or sunrooms. In addition, many units have attached or detached garages, nine‐ft. ceilings, jetted garden tubs and separate showers with glass doors. Monthly rents average $930.

Residents in the gated community have access to amenities including swimming pool with cabanas, an outdoor gourmet kitchen and gathering area, a fitness center, tanning center and playground.

The property is located approximately 15 miles southeast of downtown Tulsa.

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