REBusinessOnline

North Avenue Capital Closes Two Loans Totaling $16.8M for Properties in Georgia, Arkansas

WAYCROSS, GA. AND PARAGOULD, ARK. — North Avenue Capital has closed two acquisition loans totaling $16.8 million for properties in Georgia and Arkansas. USDA Rural Development Business & Industry funded the loans on behalf of the undisclosed borrowers. In Waycross, North Avenue arranged $7.3 million in financing for the acquisition of a 51,548-square-foot mixed-use center. Enhanced Resource Corp., a business management operation, anchors the property. Other tenants include Surchero's Fresh …

HFF Negotiates Sale of 308-Unit Multifamily Property in Fayetteville, Arkansas

FAYETTEVILLE, ARK. — HFF has arranged the sale of Uptown Fayetteville Apartments+Shops, a 308-unit apartment community in Fayetteville. The eight-building property is located at 3959 N. Steele Blvd., roughly four miles north of downtown Fayetteville and the University of Arkansas. Steven Hahn Jr., Roberto Casas and Greg Toro of HFF arranged the transaction on behalf of the seller, Specialized Real Estate Group. In addition, Brian Carlton of HFF arranged a 10-year, fixed-rate acquisition loan …

GBT Realty Signs Six New Tenants to 170,000 SF Shopping Center Near Little Rock

BENTON, ARK. — GBT Realty Corp. has signed six new tenants to The Shoppes of Benton, a 170,000-square-foot shopping center in Benton, roughly 25 miles southwest of Little Rock. Fast-casual restaurant chains Red Robin and Freddy’s Frozen Custard & Steakburgers just opened at the center, and Flowers + Home, Avalon Nails, Mathnasium and Hotworx opened this summer. The new retailers are joining existing tenants including Hobby Lobby, T.J. Maxx/HomeGoods, PetSmart, Ulta Beauty, Tuesday …

IPA Negotiates Sale of Three-Property Seniors Housing Portfolio in Tennessee, Arkansas

CHICAGO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of the Clarity Pointe Portfolio, a three-property, 174-unit seniors housing portfolio located in Knoxville, Tenn., and Fayetteville and Little Rock, Ark. Joshua Jandris, Matthew Andriano and Mark Myers of IPA arranged the transaction on behalf of the seller, a joint venture between Chicago-based Harrison Street Real Estate Capital and Life Care Services. IPA correspondent Jordyn …

CBRE Arranges Sale of 17-Acre Parcel Near Bentonville, Buyer to Develop Office/Flex Space

ROGERS, ARK. — CBRE has arranged the sale of a 17-acre parcel of land located at 5911 W. Myers Ranch Blvd. in Rogers, roughly eight miles southeast of Bentonville. David Erstine of CBRE arranged the transaction on behalf of the buyer, Venture Park LLC, which acquired five of the six available lots for the development of Class B office/flex space. A separate party acquired the sixth lot for the development of a restaurant. The land, formerly known as Myers Ranch, will be rebranded as Venture …

CBRE Arranges Sale of 90-Room Courtyard by Marriott Hotel in Bentonville, Arkansas

BENTONVILLE, ARK. — CBRE has brokered the sale of a 90-room Courtyard by Marriott hotel located at 1001 McClain Road in Bentonville. Nate Sahn, James Foxx, Pravin Boteju and David Erstine of CBRE arranged the transaction on behalf of the seller, Hawkeye Hotels. CBRE’s Marc Sallette and Olga Lepow arranged acquisition financing on behalf of the buyer, SMC Hotels. Other terms of the deal were not disclosed. The hotel, located near downtown Bentonville, features an indoor pool, fitness center …

Binswanger Arranges Sale of 288,137 SF Industrial Building in Conway, Arkansas

CONWAY, ARK. — Binswanger has brokered the sale of a 288,137-square-foot industrial building located at 1800 Sturgis Road in Conway. Holmes Davis of Binswanger arranged the transaction on behalf of the seller, Nucor Corp. Eliken Property Management acquired the asset for an undisclosed price. The single-story facility was constructed in 1995 and features reinforced concrete floors, insulated metal panel walls, an insulated metal roof, eight dock-high doors, 21,149 square feet of office space, …

NexCore Starts Construction on 42,133 SF Research Facility Near Little Rock for Healthcare Provider

SHERWOOD, ARK. — Denver-based NexCore Group has broken ground on a 42,133-square-foot research and education facility for CHI St. Vincent, an Arkansas-based regional healthcare provider, in the Little Rock suburb of Sherwood. Located at 6020 Warden Road, the facility will be located on CHI St. Vincent’s North Little Rock campus, and will serve as the new home of the Arkansas Neuroscience Institute. The building will include a research laboratory, auditorium, classrooms, an exhibit area and …

Dougherty Provides $19.8M Fannie Mae Refinancing for Apartment Asset in Bentonville, Arkansas

BENTONVILLE, ARK. — Dougherty Mortgage LLC has provided a $19.8 million Fannie Mae loan for the refinancing of The Pointe at Bentonville, a 170-unit apartment community in Bentonville. The 10-year loan features a 30-year amortization schedule. Dougherty Mortgage closed the loan on behalf of the borrower, The Pointe at Bentonville LLC. The community features a mix of one-, two- and three-bedroom units and features a business center, clubhouse, coffee bar, tanning salon, library, fitness …

Abby Development Starts Construction of 92-Unit Seniors Housing Community Near Little Rock

CONWAY, ARK. — Abby Development has broken ground on Ridgemere, a 92-unit seniors housing community in the Little Rock suburb of Conway. Located on 14 acres, Ridgemere will offer independent living, assisted living and memory care units. The previously announced project was formerly known as Arabella of Conway. Independent living units will be split among 20 cottages offering a variety of floorplans averaging 1,485 square feet. Abby Development is a Dallas-based seniors housing developer, …

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