The Apex @ Midtown

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The Apex @ Midtown gave Pax Properties a perfect opportunity to acquire a well-located asset positioned to benefit from the completion of an existing value-add program.

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This 91-unit apartment community in a solid, working class area of Tulsa is surrounded by residential neighborhoods and conveniently located so that its residents can easily access the most significant employers within the Tulsa MSA. 

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The lack of competing multi-family properties coupled with strong demographics and solid multi-family fundamentals provides a perfect canvas for our new ownership to build on, reposition and rebrand.

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Pax Properties will continue to focus on building out the current value-add program and implementing new initiatives to drive revenue growth. 

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Tulsa is positioned along the Arkansas River at the foothills of the Ozark Mountains and is considered to be the center of arts and culture in the state of Oklahoma. The city boasts a number of museums and performing arts venues, and is considered one of the nation's hot spots of ornate, art-deco architecture. The area is known for its award-winning park system, walkability, and bike-friendliness. 

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Despite a period of instability in the energy industry, the manufacturing and service sectors of the Tulsa economy are showing signs of significant growth. In fact, Tulsa has grown faster than the national average over the last 10, 20, and 30-years.

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Several manufacturers have announced expansions and subsequent job growth within the great Tulsa area, the largest being Amazon, which opened a new, $130 million fulfillment center in August of 2020, requiring 1500 employees. Additionally, recent improvements to the American Airlines Maintenance Base in Tulsa have paved the way for the facility to begin servicing a greater number of aircraft in the future. There are many other companies requiring skilled workers with over 1000+ employees including Bakers Hughes, Blue Cross Blue Shield. CenturyLink, and Whirlpool. 

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Tulsa has made significant inroads into the high-tech community of employers. Next-generation vehicle (EV) manufacturer  Canoo will construct its first U.S. manufacturing facility in Tulsa, Oklahoma. Citing the city’s leadership, energy-forward initiatives, strategic location, and skilled labor force, Canoo CEO Tony Aquila confirmed Tulsa as the  ideal location for the company’s 400-acre campus. The facility will create over 2,000 jobs and begin production in 4Q 2022. 

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Tulsa manufacturer MESA has been awarded the 2020 Malcolm Baldrige National Quality Award for the third time. The Baldrige Award is the highest award given by the U.S. Department of Commerce for performance excellence, recognizing U.S. organizations and businesses that have shown commitment to  innovative solutions, visionary leadership, and operational excellence. 

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TAT Technologies Ltd., an Israeli aerospace company, recently announced plans to relocate its thermal components research and manufacturing from Israel to Tulsa. TAT is the world’s largest independent manufacturing / repair company of thermal components for the aviation industry and is a major supplier for Boeing, Lockheed  Martin, and the Department of Defense. When completed the Tulsa plant will create 300 skilled manufacturing jobs. 

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Google’s Pryor, Oklahoma data center is the company’s second-largest worldwide and represents an investment of more than $3 billion. In June 2019 the Internet giant began a $600 million expansion of the Pryor facility with a planned increase of location employees to over 500.