Texas-based Firm Lands The Ranch at Pinnacle Point
by December 26, 2011 12:00 am 79 views
Hayman Woods LLC has acquired The Ranch at Pinnacle Point, according to a Dec. 12 release by the Dallas-based real estate company.
The release also stated the deal was finalized with a $21.1 million financing agreement between Hayman Woods and M&T Bank. The 392-unit, multifamily property is in Rogers, and was owned by HWM Ranch LP.
“We believe this acquisition presents a compelling opportunity to generate both strong income and appreciation in a stable metropolitan area that continues to grow despite the weak macroeconomic conditions affecting the rest of the country,” Hayman Woods CEO Jonas Woods said in a prepared statement.
The Ranch at Pinnacle Point was completed in 2007, and features 16 residential buildings and a clubhouse on 25-plus acres. Hayman Woods said it will begin facility improvements immediately.