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Firms announce acquisition of OKC apartment community

National commercial real estate development firm Exact Capital and partner Elevate Commercial Investment Group announced on Monday their acquisition of an affordable housing apartment community in northwest Oklahoma City comprising 850 units.

In a release, Exact Capital said it completed the acquisition in partnership with local multifamily operator Elevate in a deal involving total capitalization of approximately $59 million.

The acquired property was identified as the former Isola Bella Apartments, located at 6303 NW 63rd St. They’re to be renovated and renamed Alora Apartments.

The community features 451 one-bedroom units, 280 two-bedroom units, 16 three-bedrooms, and 23 four-bedrooms, plus a superintendent’s unit.

Exact Capital Managing Partner Craig Livingston said approximately $30,000 will be invested per unit in renovations. No residents will be displaced during work.

“We are very pleased to invest in much needed affordable housing in Oklahoma City as we continue to expand Exact’s presence nationally,” he said.

Elevate Commercial Investment Group Managing Partner Eric Bodiwala said resident amenities will include an Olympic-sized indoor swimming pool, five outdoor pools, a fitness center, a basketball court, a tennis court, courtyards and lake views. The community also will feature a pavilion business center, game room, vending machines and conversation areas.

“We have big plans for capital improvements and can’t wait to showcase them at Alora Apartments,” Bodiwala said.

The apartments are located within minutes of health care facilities, data centers, call centers and big-box national retailers located along and near Oklahoma City’s Northwest Expressway.

Exact Capital, based in New York, identifies as a national diversified real estate development firm. It specializes in public/private partnerships that add value to neighborhoods through ground-up construction and acquisitions that transform blighted structures, underutilized sites and other nonperforming real estate assets.

“Our investment in Oklahoma City is consistent with Exact Capital’s commitment to create and preserve affordable housing that adds value to neighborhoods and strengthens the economic and social fabric of communities,” Livingston said.

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Raul Castro ESQ

Counsel Fund Development
Raul is a seasoned attorney with extensive experience in both Big Law and in-house counsel roles, providing legal advisory services to Exact Capital. He specializes in advising broker-dealers and registered investment advisors on a broad range of regulatory, compliance, and securities law matters

Kevin J Ollie

Director - Business Development, Board Member. Kevin
joins Exact Capital as a distinguished member of the business development team, bringing over three decades of leadership , expertise and wealth of experience from his distinguished 25 career in professional basketball and coaching. Kevin’s commitment to excellence and his ability to foster strong relationships have been evident throughout his career. His experience in high-pressure environments and his proven track record of success make him an asset to Exact Capital as we continue to expand and innovate in the industry.

Lamar D. Williams,

Managing Director - Co-Partner Fund
Lamar brings over 25 years of financial sector expertise to Schulman Lobel CPA LLP. His distinguished career includes roles such as Managing Director at Cherry B Holland CPA, LLP, and Managing Partner of Sports and Entertainment at Berenfeld, Spritzer, Schecter, and Sheer CPA. In his current role, Williams focuses on acquiring GP and LP capital, leveraging his deep knowledge in business management, tax strategy, and cost segregation.

Renee Franco,

VP of Asset Management
With over 30 years in the multifamily industry, Renee Franco specializes in asset management, covering development, renovation, and lease-ups. Holding a Master’s in Business Management, she is a Certified Apartment Manager (CAM) and holds several industry certifications. As President of the Tennessee Association of Affordable Housing, Renee advocates for affordable housing policies and initiatives.

Brett Jureller

Director of Development - Design and Construction
Brett leads design and construction for Exact Capital, handling pre-construction, budgeting, and project management. Specializing in multifamily and mixed-use development, he has overseen projects totaling over $1 billion. Brett’s experience includes roles at Cape Advisors and JDS Development, and Turner Construction. He holds a Bachelor’s from Bucknell University and a Master’s in Real Estate Development from New York University.

Michael Callaghan,

Partner at Exact Capital
Michael Callaghan, Partner at Exact Capital Michael, as Partner, directs development, property management, and construction at Exact Capital. He manages real estate development across various asset classes, focusing on sourcing, negotiation, and financing. Michael plays a key role in building relationships with governmental agencies, banks, and community groups, essential for the firm’s development success.

Jack Heaney

Director of Real Estate Development
Jack oversees Exact Capital’s development pipeline, managing due diligence, feasibility, financing, and marketing. With over a decade in real estate development, previously he founded Fulcrum Properties and Architecture, focusing on sustainable mixed-use and affordable housing. An executive advisory member of the Urban Land Institute, Jack holds a Bachelor’s in Architecture and a Master’s in Real Estate Development from Columbia University.

Craig Livingston

Managing Partner, Exact Capital
Craig Livingston serves as the Managing Partner of Exact Capital, where he oversees the firm’s development activities, including structuring, negotiating, financing, and managing real estate ventures. With extensive experience in the industry, Mr. Livingston has advised, structured, and executed financing for numerous transactions within the firm’s real estate portfolio, totaling over $1.5 billion across multifamily, retail, and hospitality assets. As Chair of Exact Capital’s Investment Committee, he has spearheaded the firm’s regional expansion beyond New York, identifying strategic opportunities in emerging markets. Beyond his leadership at Exact Capital, Mr. Livingston is deeply involved in the real estate community. He serves as Board Chair of the New York Real Estate Chamber (NYREC), a consortium of diverse real estate developers throughout New York City and State. Mr. Livingston holds a Bachelor’s degree from the University of Connecticut and earned his MBA from Columbia Business School. He began his career at Booz Allen before moving into the financial sector at Goldman Sachs.