REBusinessOnline

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, …

Sam’s Club to Shutter 63 Stores, Convert 12 to E-Commerce Facilities

BENTONVILLE, ARK. — Sam’s Club, a division of Wal-Mart Stores Inc. (NYSE: WMT), has announced that it will close 63 club locations across the country. The company will convert up to 12 of the impacted clubs into e-commerce fulfillment centers in efforts to speed delivery of online orders. In addition, the company’s legal name will become Walmart Inc. effective Feb. 1 to reflect its growing status as an omnichannel retailer. Sam’s Club is a retailer that offers wholesale sizes and …

NAS Purchases 30,829 SF Office Building in Bentonville, Arkansas

BENTONVILLE, ARK. — NAS Investment Solutions has acquired a 30,829-square-foot office building in Bentonville, along with five tenants-in-common (TIC) co-owners. Nick Viscount and Tim Winton of Keystone Mortgage Corp. arranged a 10-year, fixed-rate loan for the acquisition on behalf of the buyer. Other terms of the transaction were not disclosed. The property features a brick-and-glass architectural design and was solely occupied by a Fortune 500 company at the time of

Doughtery Mortgage Arranges $23.9M Fannie Mae Loan for Apartment Asset in Little Rock

LITTLE ROCK, ARK. — Dougherty Mortgage LLC has arranged a $23.9 million Fannie Mae loan for the refinancing of Bowman Pointe Phase I, a 217-unit multifamily community in Little Rock. The Minneapolis-based company arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrower, Bowman Pointe LLC. Bowman Pointe features a business center, clubhouse, virtual fitness studio, fitness center and a resort-style pool with

Hunter Hotel Advisors Arranges Sale of Two Hotels in Bentonville, Arkansas

BENTONVILLE, ARK. — Hunter Hotel Advisors has arranged the sale of two hotels in Bentonville: the 78-room TownePlace Suites by Marriott and the 130-room Candlewood Suites Rogers. Investra Capital Inc. purchased both assets for an undisclosed price. Hospitality Ventures Management Group was retained to manage the extended-stay hotels. Both properties feature indoor pools, fitness centers and business centers, and are located near the Walmart World

HREC Arranges Sale of 150-Room Hotel in Hot Springs, Arkansas

HOT SPRINGS, ARK. — HREC Investment Advisors has arranged the sale of Clarion on the Lake, a 150-room hotel in Hot Springs. A regional hotel owner/operator purchased the asset for an undisclosed price. Kevin Hanley and Patrick Culligan of HREC represented the undisclosed seller in the transaction. The hotel is located on the shore of Lake Hamilton and features a swimming pool, outdoor cabana bar, volleyball court, picnic area and a

GBT Realty Delivers $36M Shopping Center Near Little Rock

BENTON, ARK. — GBT Realty has opened The Shoppes of Benton, a $36 million shopping center in Benton, roughly 25 miles southwest of Little Rock. The 170,000-square-foot center is home to tenants including PetSmart, Kay Jewelers, Maurices, Texas Roadhouse, T.J. Maxx, HomeGoods, Ulta Beauty and Hobby Lobby. Tuesday Morning, Avalon Nails, Flowers & Home, All Aboard Restaurant & Grill, Red Robin and Freddy’s Frozen Custard and Steakburgers are expected to open by the end of the year. The …

KeyBank Structures $29.5M Loan for Student Housing Property Near University of Arkansas

FAYETTEVILLE, ARK. — KeyBank Real Estate Capital has secured a $29.5 million loan for Sterling District, a 198-unit student housing community in Fayetteville, less than a half mile from the University of Arkansas campus. Caleb Marten of KeyBank structured the fixed-rate, first-mortgage loan with seven years of interest-only payments through a correspondent life company relationship. Sterling District features a swimming pool, hot tub, fitness center, study rooms, game rooms, cyber café and …

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