Real Deals: Pinnacle estate home sells for $1.9 million

by Paul Gatling (pgatling@nwabj.com) 307 views 

A remodeled estate home inside the gates of Pinnacle Country Club in Rogers recently sold for $1.9 million.

MAKB Enterprises LLC, led by Patrick Byrd, bought the 9,326-square-foot home on West Wimbledon Way from Matt and Catherine Kistler. The purchase equals $203.73 per square foot.

Fayetteville-chartered Signature Bank of Arkansas provided financing with a five-year loan of $1.52 million. City Title & Closing of Fayetteville was the title agent. The listing agent for the 0.79-acre property was Brandy Pool with Portfolio Luxury Real Estate of Rogers.

The five-bedroom home was built in 2002 and remodeled in 2014. Kistler paid $915,000 for the home in April 2013. Krishnamurthy Iyer and Kalpana Krishnamurthy were the sellers.

• Tudor Residence
New construction in Phase IV of the gated Pinnacle subdivision in Rogers recently sold for $1.55 million. Tudor Holdings LLC, led by Alex and Lauren Blass, bought the 6,298-square-foot residence on Tudor Lane. The purchase price equals $246.10 per square foot.

Fairchild Construction of Bentonville, led by Nathan Fairchild, was the seller. Bear State Bank provided financing with a five-year, $1.02 million mortgage. Waco Title Co. of Springdale was the title agent. Portfolio Luxury Real Estate in Rogers had the listing.

Tulsa architect Jack Arnold designed the four-bedroom home. It includes designer lighting, custom millwork, smart home technology, home audio system, state-of-the-art kitchen and Amish beamed ceilings. Fairchild bought the lot from Richard and Beverly Clifford in July 2015 for $140,000.

• Commercial Sale
A 1.99-acre commercial lot just off Interstate 49 in Bentonville has a new owner after a $1.55 million sale. Wal-Mart Stores Inc. bought the land from HCB LLLP, led by Henry Browne. The land is on Phyllis Street, south of Value Place hotel.

A new electrical and distribution substation will be built on the property, to accommodate the planned expansion of the nearby David Glass Technology Center on Moberly Lane. The DGTC plans to expand its server area, which will increase the required electric load. Wal-Mart and the city will split the estimated construction cost of $9 million.

• Prism Property
An educational development is in the works after a commercial sale worth $825,000.

Prism Education Center of Fayetteville bought the 2-acre development at 2875 E. Joyce Blvd., near the North Crossover Road intersection. Covan LC, managed by Gene Anderson, was the seller. First Security Bank provided financing with a five-year loan of $720,000. Advantage Title & Escrow of Fayetteville was the title agent.

Prism, a private, nondenominational religious school for preschoolers through 12th-graders, will consolidate its three Fayetteville campuses to the Joyce Boulevard site. It includes two vacant buildings totaling approximately 9,400 square feet.

• Double Tree Abode
A 4,880-square-foot home in Phase II of Fayetteville’s Double Tree Estates neighborhood sold recently for $750,000, a purchase price of $153.68 per square foot.

Richard and Lori McNeel, trustees of the McNeel Family Trust, bought the five-bedroom home on Toy Drive from Ted and Julie Fish. Simmons Bank in Rogers financed the deal with a five-year, $750,000 loan. Waco Title Co. of Springdale was the title agent. Whitney Morgan with Coldwell Banker Harris McHaney Faucette in Fayetteville was the listing agent.

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at pgatling@nwabj.com. Please write ‘Real Deals’ in the subject line.

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