Little Rock Investors Buy Area Apartments

The Sundance Villa Apartments at 401 N. 35th St. in Rogers were sold July 20 for $1 million.

The apartments were purchased by Breckenridge One Limited Partnership of Little Rock. The purchase was financed with a $1.4 million mortgage from First National Bank & Trust of Rogers. The loan was signed by Elizabeth Small as president of Phillips Development Corp. and Ron Strothers as operating member of Benton County Properties LLC, both in Little Rock.

The apartments have 64 units on 4.2 acres. The apartments were built in 1985 and each has two bedrooms and two baths. They were sold at auction on the steps of the Benton County Courthouse after a foreclosure by the federal Department of Housing and Urban Development.

The new owners have changed the name to Breckenridge Apartments and plan an extensive remodeling of the complex.