REBusinessOnline

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, …

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

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