Arkansas

Cushman & Wakefield Brokers $78.8M Sale of Landmark Apartments in Little Rock

by John Nelson March 25, 2024

LITTLE ROCK, ARK. — Cushman & Wakefield has brokered the $78.8 million sale of Landmark Apartments, a 372-unit multifamily community located in Little Rock. Canyon View Capital acquired the property in two phases — paying $40.3 million and $38.5 million in February 2023 and February of this year, respectively. Martin Bynum and Cole Herget of Cushman & Wakefield represented the seller, an entity doing business as Landmark Apartments II LLC, in the transaction. VCC Construction built the community in two phases, completing 196 units in 2017 and 176 units in 2023. Amenities at the property include two fitness centers, a coffee station, tanning salon, business center, dog park agility course, two swimming pools, outdoor games and parking garages.

March 25, 2024

Arkansas Development Seniors Housing Southeast

HDG Opens First Senior Living Community in Maumelle, Arkansas

by John Nelson February 2, 2024

MAUMELLE, ARK. — Health Dimensions Group (HDG) has opened Mira at Maumelle, which the developer asserts is the first senior living community in the Little Rock suburb of Maumelle. Mira at Maumelle provides independent living, assisted living and memory care services. The number of units was not disclosed. HDG manages the property, bringing its portfolio to 48 communities in eight states.

February 2, 2024

Arkansas Development Retail Southeast Top Stories

Walmart Plans to Add 150 New Stores, Remodel 650 Existing Locations

by Katie Sloan February 1, 2024

BENTONVILLE, ARK. — Walmart (NYSE: WMT) has announced plans to expand by more than 150 new stores over the next five years, both through new construction and converting existing buildings. The first two stores under this initiative — both under the company’s smaller-format Walmart Neighborhood Market banner — are scheduled to open this spring in Santa Rosa, Fla., and Atlanta. The company is currently finalizing plans for 12 new projects, one of which will be the conversion of a smaller existing location into a large-format Walmart Supercenter, which serves as both a grocery store and a full department store. Walmart simultaneously released plans to remodel 650 of its existing stores across 47 states and Puerto Rico over the next 12 months. The new and renovated locations will all feature the Bentonville-based company’s “Store of the Future” model, which includes improved layouts, expanded product selections and the integration of new technology. The “Store of the Future” features expanded pharmacies and updated vision centers, with pharmacies moved toward the front of the store; activated corners with product displays that allow customers to interact with items and visualize them in their lives; digital touch points throughout the store to provide information on products …

February 1, 2024

Arkansas Development Industrial Southeast

Tempus Realty Completes 530,000 SF Westrock Coffee Distribution Center in Conway, Arkansas

by John Nelson January 19, 2024

CONWAY, ARK. — Tempus Realty Partners has completed a 530,000-square-foot distribution center in Conway, which will be occupied by project partner Westrock Coffee. Tempus and Westrock acquired the 30-acre site, which is located roughly 30 miles outside Little Rock, in early 2023. Building features include 36-foot clear heights, a 13,000-square-foot mezzanine office, 100,000 square feet of air-conditioned production space, extensive power distribution and an exterior enclosed machine room. The property will support Westrock Coffee’s product and packaging operation at a nearby facility, as well as handle additional distribution needs. The development team included Clark Contractors, Lewis Architects, Engineering Consultants and Build Nimble/Colliers Arkansas. Ted Dickey of Lighthouse Asset Advisors advised Westrock Coffee in the project.

January 19, 2024

Arkansas Development Multifamily Southeast

ERC, Tradewind to Develop 272-Unit Multifamily Community in Springdale, Arkansas

by John Nelson January 19, 2024

SPRINGDALE, ARK. — Arkansas-based ERC Holdings and Houston-based Tradewind Properties will develop a 272-unit multifamily community at Elm Springs Road and N. 48th Street in Springdale. Dubbed The Ramsay, the property will comprise 18 three-story buildings housing 143 one-bedroom apartments and 129 two-bedroom apartments. Amenities will include a café and lounge, 1,900-square-foot wellness center, pocket park, meditation room, dog park and a clubhouse. Pick-It Construction is the general contractor, and the architect is Rob Sharp. Completion of the first units is scheduled for fall of this year.

January 19, 2024

Acquisitions Arkansas Southeast Student Housing

Tailwind Group Acquires 670-Bed Student Housing Community Near University of Arkansas

by John Nelson December 7, 2023

FAYETTEVILLE, ARK. — The Tailwind Group has acquired Ozark Villas, a 670-bed student housing community located near the University of Arkansas campus in Fayetteville. The 213-unit property was acquired from Fountain Residential Partners for an undisclosed price. Teddy Leatherman of JLL brokered the transaction. Upon closing, the community was rebranded College Town Fayetteville. The new ownership has plans to begin major exterior renovations at the property imminently. Shared amenities at the community include a resort-style swimming pool, clubhouse, billiards, a fitness center, dog park, basketball court, sand volleyball court, collaborative study spaces, private study rooms, an outdoor kitchen and a fire pit.

December 7, 2023

Arkansas Development Loans Mixed-Use Multifamily Retail Southeast

CBRE Secures Construction Financing for Whole Foods-Anchored Development in Rogers, Arkansas

by John Nelson October 27, 2023

ROGERS, ARK. — CBRE has secured an undisclosed amount of construction financing for the development of Pinnacle Springs, a planned mixed-use development located at 1800 S. Osage Springs Drive in Rogers. The project will comprise 362 apartments and 91,000 square feet of retail space, including a 37,000-square-foot Whole Foods Market grocery store. The borrower is SJC Ventures, a mixed-use development firm based in Atlanta. Richard Henry, Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta arranged the financing. Arvest Bank provided uncrossed construction loans for the project, while Dome Equities provided both common and preferred equity investments in the multifamily component. SJC Ventures plans to break ground on Pinnacle Springs by the end of the year, with an expected delivery date of 2025.

October 27, 2023

Arkansas Development Hospitality Southeast

Windsor Aughtry Breaks Ground on 170-Room Tapestry by Hilton Hotel in Rogers, Arkansas

by John Nelson October 26, 2023

ROGERS, ARK. — Greenville, S.C.-based Windsor Aughtry Co. has broken ground on a 170-room hotel in Rogers branded under the Tapestry by Hilton flag. The six-story property will be located at 4100 S. Pinnacle Hills Parkway. The hotel will feature a rooftop experience with an open-terrace bar, steakhouse restaurant and 2,400 square feet of banquet space; 1,500 square feet of meeting space; outdoor patio; fitness center; and inside bike storage. Hospitality America will manage the hotel upon completion. The construction timeline was not disclosed.

October 26, 2023

Arkansas Development Seniors Housing Southeast

Arrow, O’Reilly Development Deliver 158-Unit Seniors Housing Community in Little Rock

by John Nelson August 29, 2023

LITTLE ROCK, ARK. — Arrow Senior Living has opened The Summit Senior Living at Chenal Valley in Little Rock. Built by O’Reilly Development, the property is situated in the West Little Rock area and sits on 12 acres near outdoor recreation, shopping and fine dining. The 163,000-square-foot property features 96 independent living units, 44 assisted living units and 18 memory care units. The Summit Senior Living at Chenal Valley is the first Arrow-operated community in Arkansas and the operator’s 35th in the nation.

August 29, 2023

Acquisitions Arkansas Multifamily Southeast

Cushman & Wakefield Brokers Sale of 250-Unit Fitzroy Grove Apartments in Rogers, Arkansas

by John Nelson August 14, 2023

ROGERS, ARK. — Cushman & Wakefield has brokered the sale of The Fitzroy Grove, a 250-unit apartment community located in Rogers. Martin Bynum and Craig Hey of Cushman & Wakefield represented the seller, Huffman & Co., in the transaction. Lurin Capital acquired the property for an undisclosed price. Built in 2021, Fitzroy Grove features studio, one-, two- and three-bedroom apartments. Community amenities include a 24-hour health club, bocce ball and pickleball courts, business center, coworking spaces, dog park, coffee bar, putting green and a resort-style swimming pool with cabanas, according to the property website.

August 14, 2023

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