Kislak to Own and Operate Luxury Townhomes/Vacation Real Estate Venture in Northeastern Oklahoma’s Scenic Grand Lake Area
May 29, 2012
Miami Lakes, Fla., and Afton, Okla. – The Villas on Monkey Island, a luxury real estate venture in northeastern Oklahoma, has officially changed hands from Cherokee Village, LLC, to the Kislak Organization. The two entities announced the completion of an agreement making The Kislak Organization the new owner and operator of The Villas on Monkey Island. The gated townhome community, built in 2010, is located in the popular Grand Lake O’ the Cherokees recreation area – part of Oklahoma’s charming Green Country region.
“Those of us who were involved with Cherokee Village are excited to know our dream for The Villas on Monkey Island will now be realized through the capable leadership and financial strength of the Kislak Organization,” said a Cherokee Village spokesperson. “We are grateful for the professional, courteous and respectful way the Kislak team has handled this transition.”
Tom Bartelmo, president and CEO of Kislak, said the rental community’s lush locale with a relaxing outdoor lifestyle makes it a unique and highly desirable addition to the Kislak portfolio.
“The Villas on Monkey Island is a great property and a good fit for our investment strategy. We look forward to putting the finishing touches on the units and leasing them quickly,” Bartelmo said. “This is what we do all over the country – enhance and restore properties and bring more high quality homes into the market. The Villas on Monkey Island is a terrific choice for those who live and work in the area, and for people looking for carefree vacation and weekend homes.”
The Kislak Organization brings more than a century of real estate experience to the venture, and has a portfolio of properties throughout the United States. The firm has established a successful track record of acquiring, repositioning and managing multifamily properties. Its highly regarded JIK Properties operations team is known for efficient and effective property management and oversight.
“We build relationships with local vendors and work hard to contribute to the communities and economies where we operate,” Bartelmo said. “We go beyond investing in property to investing in people.”
Most recently, Kislak completed the $4 million renovation of three financially distressed properties in Pensacola, Florida. Many local vendors and contractors collaborated in the effort to reclaim and restore the communities, which included many uninhabitable units. The projects created employment for hundreds of individuals and dozens of businesses in the area, and made hundreds of high-quality homes available.
“When you’re responsible for the places people call home, it’s very personal,” Bartelmo said. “We take pride in helping people make a change for the better.”