Breckenridge in Rogers Draws $2.2 Million Sale

A 64-unit multifamily property in Rogers has a new owner after a $2.2 million sale.

G&F LLC, led by Amarit “John” Singh, acquired the Breckenridge Apartments at 401 N. 35th St. from Parkway Bank of Rogers.

Parkway, which took ownership in May 2010, financed the transaction with a two-year, $1.98 million mortgage.

The complex has eight two-story buildings and sits on 4.2 acres. The development, built in 1985, appraised for $2.1 million earlier this year.

Riggins Starts Five

Riggins Construction Inc. of Springdale paid $1.18 million to the city of Bentonville for five building permits.

The permits are for the construction of single-family homes in Phase I of the Thornbrook Village subdivision east of Been Road.

Fireblaze VI LLC, led by Jim Lindsey, owns each of the lots, acquired in August 2010 as part of numerous properties involved his son’s $169.6 million Chapter 7 bankruptcy.

John David Lindsey, through his John David Lindsey LLC, was developing the subdivision, which is on about 50 acres with 148 lots.

Jim Lindsey made the acquisition through the organization of a group of LLCs with the Fireblaze name, all under an umbrella named D&G Assets LLC.

The houses will be at 2405 S.W. Montana Ave., 2407 S.W. Montana Ave., 2501 S.W. Montana Ave., 2503 S.W. Montana Ave. and 2505 S.W. Montana Ave.

Lot sizes are roughly a fifth of an acre and each appraised earlier this year for $28,000.

Stonebriar Sale

A newly constructed home in Phase II of the Stonebriar subdivision in Bentonville sold recently for $670,000.

Homes of Distinction Inc., led by president James D. Cooper, sold the Rosehaven Lane property to Michael and Sherri Overton.

The subdivision is on Arkansas Highway 72 four miles west of Walton Boulevard.

The deal was financed with a 30-year, $536,000 mortgage from BOKF NA DBA Bank of Arkansas.

The five-bedroom home is approximately 4,800 SF.

Homes of Distinction acquired the 1.52-acre lot in May 2007 for $100,000. The seller was Kimberly Marie Grady.

Grady bought the lot in September 2006 from Joseph A. O’ Connor for $60,000. O’ Connor bought the lot in August 2006 from Sangallo Homes LLC for $0. Sangallo bought the lot in May 2002 from 3-Putz LLC for $117,000. 

Submit tips about lease activity, construction, transactions or upcoming projects valued at $300,000 or more to Paul Gatling at [email protected]. Please write ‘Real Deals’ in the subject line.