NEW YORK – Fortress Investment Group today announced that funds managed by its affiliates (“Fortress”) have closed a $161 million senior loan for OAK OKC, a newly developed mixed-use community located in Oklahoma City, Oklahoma.
OAK OKC is owned and was developed by a partnership between Veritas Development, LLC and the Dobson Partnership (collectively, the “Sponsor”). Veritas Development, founded in 2004 by Ryan McNeill, is an Oklahoma-based developer of retail and mixed-use real estate. The Dobson Partnership is led by Everett Dobson and was established to manage investments on behalf of the Dobson family.
The senior loan financing was led and arranged by Fortress.
Proceeds from the transaction are being used to refinance existing debt and support the continued lease-up of the community. Delivered in late 2024, OAK OKC comprises 320 luxury multifamily units and approximately 136,000 square feet of Class A retail space, situated around a central open community space, and represents Phase I of a larger mixed-use development. The retail portion is leased predominantly to high-end national retailers and restaurants.
“OAK OKC is already proving to be a highly successful addition to Oklahoma City, with a compelling mix of high-quality living and high-end retail. We believe that the property’s initial success shows the importance of experienced sponsors, long-term planning, and strong financial support,” said Michael Dremluk, Director in Real Estate Debt at Fortress Investment Group. “We’re pleased to be part of OAK OKC’s ongoing development, and believe this financing reflects a compelling investment opportunity for our investors.”
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $54 billion of assets under management as of March 31, 2026, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. AUM refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed accounts. For more information, visit www.fortress.com.
About Veritas Development
Founded in 2004, Veritas Development is an Oklahoma-based developer of retail, multifamily, office, and hospitality real estate. The firm partners with best-in-class consultants and other firms to execute its developments and business plans.