SandRidge Energy files paperwork on sale of OKC headquarters

A day after revealing in its quarterly financial report that it had sold its downtown Oklahoma City headquarters building, SandRidge Energy filed Real Estate Purchase and Sales Agreement with the Securities and Exchange Commission.

In the Form 8-K, SandRidge showed that Robinson Park, LCC is the buyer of the 30-story office tower and annex with parking located at 123 Robert S. Kerr in a $35,500,000 agreement that was dated May 15, 2020. The identity of the buyer was not disclosed in the financial report made public on Monday by SandRidge Energy.

The purchase and sale agreement contains representations, warranties and covenants customary of real estate purchase and sale agreements.

“The transaction is expected to close during the quarter ending September 30, 2020,” stated the SEC filing.

Published reports suggest that Robinson Park, LLC led by Mark Beffort is buying the complex of SandRidge buildings on behalf of the State School Land Commission. Other state agencies, including the Oklahoma Department of Environmental Quality would reportedly relocate to the office tower. The DEQ would have to sell its building at 707 N. Robinson Avenue and move into the SandRidge tower. So would the Oklahoma Tourism and Recreation Department, the Oklahoma Tax Commission, the Oklahoma Water Resources Board, the Oklahoma Department of Labor and the Department of Mines.

The purchase by Robinson Park includes the Broadway-Kerr Parking Garage which SandRidge purchased from Oklahoma City in 2011 in a $8.6 million deal.

Click here to view SandRidge Energy filing with SEC.