REBusinessOnline

Hunt Real Estate Capital Provides $6M Acquisition Loan for Multifamily Property in Little Rock

LITTLE ROCK, ARK. — Hunt Real Estate Capital has provided a $6 million Fannie Mae loan to an undisclosed borrower for the purchase of Northwest Hills Apartments in Little Rock. The loan has a 10-year term with a fixed interest rate of 5.52 percent, amortizing over 30 years after two years of interest-only payments. The apartment community comprises 42 one-bedroom units and 84 two-bedroom units across 13 two-story buildings. The asset was originally built in 1984. Amenities include a swimming …

Investment Grade Loans Sells 554,416 SF Industrial Building in Little Rock

LITTLE ROCK, ARK. — Investment Grade Loans has sold a 554,416-square-foot industrial building in Little Rock. The property sits on 27.6 acres and sold to New York City-based Eliken Property Management for an undisclosed price. The single-story facility has 29-foot, 9-inch ceiling heights, 5-inch reinforced concrete floors, 40 dock doors and 5,616 square feet of office space. Holmes Davis of Binswanger’s Dallas office represented the seller in the

Berkadia Arranges $13M Loan to Refinance North Little Rock Apartment Complex

NORTH LITTLE ROCK, ARK. — Berkadia has arranged $13 million in refinancing to borrower Salter Properties for Argenta Flats, a 160-unit apartment community located at 123 W. 7th St. in North Little Rock. New York-based Benefit Street Partners provided the loan. Charles Foschini, Christopher Apone and Patrick Jordan of Berkadia arranged the loan on behalf of the borrower. The loan comprises a first mortgage and mezzanine debt and features a 10-year term with two years interest-only. Argenta …

Vanguard REA Arranges Sale of 205-Unit Multifamily Portfolio in Fort Smith, Arkansas

FORT SMITH, ARK. — Vanguard Real Estate Advisors (Vanguard REA) has completed the sale of a two-property multifamily portfolio in Fort Smith. A Dallas-based private investor acquired the asset from Fort Smith-based Fairway FSM Properties LLC and Southbrook Properties of Fort Smith LLC for an undisclosed price. The portfolio includes the 128-unit Southbrooke Apartments and the 77-unit The Fairway at Fianna Hills. The properties are located less than two miles from each other. Jordan Cortez …

Hunt Real Estate Capital Funds $9M Green Acquisition Loan for Multifamily Property in Arkansas

JONESBORO, ARK. — Hunt Real Estate Capital has provided a $9 million Fannie Mae conventional loan for the acquisition of Stadium Place Apartments, a 200-unit multifamily property located at 3719 Stadium Blvd. in Jonesboro. Chad Thomas Hagwood led the Hunt Real Estate Capital team that closed the financing. Built in 2000, Stadium Place comprises 10 three-story garden-style buildings on a 10.4-acre site. Totaling 179,880 square feet of rentable area, the property offers a mix of one-, two- …

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 …

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