The OPERS Board voted today to purchase an office building for investment purposes. The asset will serve to diversify the OPERS investment portfolio. The property is located at 5400 N. Grand Boulevard in Oklahoma City, commonly known as Grand Centre. The board approved the purchase price of $12,400,000. The approval of the purchase agreement starts the process of allowing the System to inspect and review the property during the next 60 days. Once the inspection period is complete, and if there are no issues, the process of closing on the property will begin.
OPERS has issued an RFP for real estate inspection and other services. Proposals are due no later than 4:30 p.m. CST on Tuesday, August 25, 2015.