Arkansas

NorthMarq Provides $42M Refinancing for Apartment Complex in Rogers, Arkansas

by Alex Tostado March 2, 2020

ROGERS, ARK. — NorthMarq has provided a $42 million Freddie Mac refinancing loan for Woodland Park, a 427-unit apartment complex in Rogers, which is located in the northwestern part of the state. The loan features a 10-year term and a 3.72 percent interest rate. The community, which was 95 percent occupied at the time of refinancing, offers one-, two- and three-bedroom floor plans. Communal amenities include a playground, clubhouse and a swimming pool. Woodland Park is situated at 4000 S Dixieland Road, five miles south of downtown Rogers. Kyle Tucker of NorthMarq originated the loan on behalf of the borrower, Block Real Estate Services.

March 2, 2020

Acquisitions Arkansas Florida Multifamily Southeast Student Housing

East To West Capital Sells Three-Property Student Housing Portfolio in Florida, Arkansas

by Alex Tostado February 21, 2020

TALLAHASSEE AND GAINESVILLE, FLA.; AND FAYETTEVILLE, ARK. — UK-based investor East To West Capital has sold a three-property student housing portfolio located in Florida and Arkansas for an undisclosed price. The portfolio includes Gator Cottages, a three-unit, 18-bed property built in 2018 serving students at the University of Florida in Gainesville; Whitham Cottages, a 10-unit, 40-bed community also constructed in 2018 located near the University of Arkansas in Fayetteville; and Seminole Gardens, a 10-unit complex ranging from 2,213 to 2,571 square feet serving students attending Florida State University in Tallahassee. Kevin Dufour and Director Kyle Peco of FourPoint Investment Sales Partners represented the seller in the transaction. The buyer was undisclosed.

February 21, 2020

Acquisitions Arkansas Retail Southeast

TSCG Brokers Sale of 180,200 SF Retail Power Center in Little Rock

by Alex Tostado February 5, 2020

LITTLE ROCK, ARK. — TSCG has brokered the sale of Markham West, a 180,200-square-foot retail power center in Little Rock. The shopping center was 98 percent leased at the time of sale to tenants including Academy Sports + Outdoors, Office Depot, Dollar Tree, Michaels and Planet Fitness. Markham West also features five outparcel buildings housing tenants such as TCBY Yogurt, Aspen Dental, Pizza Hut and US Bank. The asset is situated at 11164 W. Markham St., seven miles west of downtown Little Rock and a half-mile from Interstate 430. TSCG represented the seller, an affiliate of Houston-based Weingarten Realty, in the transaction. An affiliate of Atlanta-based RCG Ventures LLC acquired the property for an undisclosed price.

February 5, 2020

Arkansas Development Multifamily Southeast Student Housing

Aptitude Breaks Ground on 647-Bed Student Housing Community Near University of Arkansas

by Alex Tostado January 22, 2020

FAYETTEVILLE, ARK. — Aptitude Development has begun construction on The Marshall Arkansas, a 647-bed student housing community located near the University of Arkansas in Fayetteville. Aptitude expects to deliver the property in August 2021. The community will offer shared amenities including a 14,000-square-foot clubhouse, fitness facilities, resident lounges, a rooftop deck, swimming pool and an open-air social space. The property will also feature Aptitude’s branded study lounge dubbed “The Thought Center,” which features group breakout rooms with smart televisions and white boards alongside private study corrals.

January 22, 2020

Arkansas Loans Multifamily Southeast

Dougherty Mortgage Provides $13M Fannie Mae Loan for Little Rock Apartment Community

by Alex Tostado January 21, 2020

LITTLE ROCK, ARK. — Dougherty Mortgage has provided a $13 million Fannie Mae loan that the borrower will use to refinance the third phase of Bowman Pointe, an apartment community located at 3321 S. Bowman Road in west Little Rock. Phase III spans 106 units and was completed last year. The borrower, Bowman Pointe LLC, is an affiliate of Richardson Properties, a local developer and manager of apartment communities, as well as office, retail, industrial and self-storage properties. The 10-year loan features a 30-year amortization schedule. Bowman Pointe is being delivered in four phases. The community’s amenities include late night concierge services, 24-hour fitness center, movie theater, conference room, virtual fitness studio, poker and wine lounge, Zen lounge, coffee bar, tanning room, resort-style pool with cabanas, pet park, outdoor fire pits, bocce ball court, professional putting green, two green areas with grills and picnic tables, garages inside the building, covered parking and an additional mailbox area.

January 21, 2020

Acquisitions Arkansas Loans Multifamily Southeast

KeyBank Provides $24M Acquisition Loan for Multifamily Complex in Bentonville, Arkansas

by Alex Tostado January 7, 2020

BENTONVILLE, ARK. — KeyBank Real Estate Capital has provided a $24 million Fannie Mae acquisition loan for The Glen at Polo Park, a 356-unit, garden-style apartment complex in Bentonville. Caleb Marten and Chris Neil of KeyBank originated the fixed-rate loan on behalf of the borrower, an undisclosed private equity investment company. Built in 2006, Glen at Polo Park features 29 three-story residential buildings situated on 18.5 acres.

January 7, 2020

Arkansas Development Industrial Southeast

Timber Company to Invest $90M for Manufacturing Plant in Conway, Arkansas

by Alex Tostado December 11, 2019

CONWAY, ARK. — Structurlam Mass Timber Corp., a British Columbia-based mass timber manufacturer, has unveiled plans for a plant in Conway, approximately 30 miles from Little Rock. The mass timber manufacturer will spend $90 million to purchase, retrofit and equip a former steel plant. Set to open in mid-2021, the plant will create 130 new jobs and will source lumber from nearby Arkansas forestland. Conway is located near multiple transportation corridors, including Interstate 40, U.S. Routes 60 and 64 and Arkansas Highway 365. The Structurlam plant will produce mass timber building products and industrial matting products for the Southern, Central and Eastern United States, including providing building materials for Walmart’s new 350-acre Home Office campus in Bentonville.

December 11, 2019

Acquisitions Arkansas Multifamily Southeast Student Housing

NKF Arranges Sale, Acquisition Financing for New Student Housing Community Near University of Arkansas

by Alex Tostado December 6, 2019

FAYETTEVILLE, ARK. — Newmark Knight Frank Multifamily (NKF) has arranged the sale of and acquisition financing for the Cottages on Hollywood, a 652-bed student housing community located near the University of Arkansas in Fayetteville. Construction on the property was completed this fall. Ryan Lang, Brandon Buell and Jack Brett of NKF represented the seller, Barrett Development Group, in the sale of the property to Inland for an undisclosed price. Joel Simmons, Matt Williams, James Maynard and Kyle Schlitt of NKF Multifamily Capital Markets Debt & Structured Finance arranged acquisition financing on behalf of the buyer. The community offers two-, three-, four- and five-bedroom units. Shared amenities include study lounges and private study spaces, a computer and printing station, coffee bar and vending market, two-story fitness center with resort-style locker rooms, sauna and steam rooms, tanning beds, two-story clubhouse, indoor and outdoor gaming lounge, resort-style swimming pool and cabana, hammock garden, water and sand volleyball, dog park, outdoor kitchens and grills, fire pit, putting green, an activity field with horse shoes and bocce ball and access to the Town Branch Walking Trail.

December 6, 2019

Acquisitions Arkansas Industrial Office Southeast

NAS Acquires 27,465 SF Flex Building in Springdale, Arkansas Leased to BNSF Logistics

by John Nelson December 2, 2019

SPRINGDALE, ARK. — Real estate investment company NAS Investment Solutions has acquired a newly constructed, 27,465 square-foot flex building fully occupied by BNSF Logistics in Springdale, less than six miles north of Fayetteville. Located at 2708 S. 48th St. the facility completes the second phase of BNSF’s property expansion that serves as the company’s regional headquarters. National Asset Services (NAS) will assume responsibility for asset and property management for the newly acquired property. NAS currently manages the 30,339-square-foot Phase I building and will assume management responsibilities for the newly created campus. BNSF Logistics is a third-party supply chain management firm based in Flower Mound, Texas. The company is a subsidiary of BNSF Railway but works with all major and secondary railroad lines.

December 2, 2019

Affordable Housing Arkansas Development Seniors Housing Southeast

Hunt Capital, Burleson Break Ground on Phase III of Affordable Housing Project Near Little Rock

by John Nelson November 20, 2019

MABELVALE, ARK. — Hunt Capital Partners and Burleson Development LLC have broken ground on Phase III of an affordable housing project near Little Rock. Hunt Capital Partners has committed $6.3 million in federal low-income housing tax credit (LIHTC) financing for the 48-unit expansion of Valley Estates at Mabelvale, an apartment community located eight miles southwest of Little Rock in Mabelvale. The project, scheduled for completion by November 2020, is intended for households earning up to 30, 50 and 60 percent of the area median income. One unit is reserved for a property employee. Phase III of Valley Estates at Mabelvale is Hunt’s third project with Burleson Development, the developer of the first two phases that were completed in 2011. The project also marks Hunt Capital Partners’ fourth transaction with RichSmith as developer consultant. RichSmith and its affiliates are serving as the general contractor, architect and property manager for Phase III. The total development cost of Valley Estates at Mabelvale Phase III is $7.2 million. Hunt Capital Partners facilitated the LIHTC financing through its proprietary fund with BancorpSouth Bank, which also provided an approximately $4.3 million construction loan. Arkansas Development Finance Authority provided a $450,000 construction-to-permanent loan through its HOME program, …

November 20, 2019

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