Little Rock Investor Spends $19 Million for Troubled Benton County Land
by March 9, 2012 3:14 pm 584 views
A series of blockbuster deals between Joe Whisenhunt, CEO of Whisenhunt Investment Group of Little Rock, and Bank of America has resulted in the transfer of ownership of 375 acres in Benton County.
The sales of three chunks of land —acreage in the Pinnacle Hills and Pleasant Crossing developments, as well as The Grove — total $19 million, according to documents filed Thursday at the Benton County Circuit Clerk’s office.
According to a story written by George Waldon of Arkansas Business, it was an all-cash acquisition. Bank of America gained the land via forfeiture or foreclosure by groups that included Northwest Arkansas developers Gary Brandon, Charles Reaves, Bill Schwyhart and Robert Thornton.
“It’s the most significant land transaction since the bubble burst,” Collier’s International broker Ramsay Ball said.
To see an online version of the full story, please click here. The Northwest Arkansas Business Journal will run a print version of the story as part of its March 19 issue.