Ford Price, Managing Partner of the firm, has been appointed receiver by the District Court of Tulsa County for the Pickwick Arms Apartments in Tulsa, OK.
The property, which contains 259 units, is located at 139 N Garnett. The lender is City National Bank in California, which took over the loan when Imperial Capital Bank failed.
Price Edwards & Company will manage the property, and complete its standard takeover procedures for distressed assets, which includes a physical plant assessment, creating a near term operating and capital budget, the walk-thru of each unit, a rental rate analysis of the market and sub-market, and valuation of the property.
Pickwick is one of many apartment properties on which Price Edwards & Company has served as receiver in Tulsa, Oklahoma City and other communities throughout the state.
