Piedmont Purchase Brings Up Barber’s Name
by March 30, 2012 4:44 pm 85 views
Chambers Bancshares Inc. chairman John Ed Chambers III of Danville and his nephew, John Russell Meeks, are the new owners of the Piedmont Townhomes at the corner of West Bel Air Drive and North Leverett Avenue in Fayetteville.
Through their JRJC II LLC, the two men paid $1.1 million for the property early last month.
According to a Limited Liability Company warranty deed, the seller was Indulge LLC, a company of former Northwest Arkansas developer Brandon Barber — Chambers’ former son-in-law.
The Secretary of State’s office still lists Barber as the managing member of Indulge, though Harrison-based First Federal Bank filed a petition for foreclosure against Indulge in mid-December 2009.
Regardless, Chambers, through his JEC III LLC, signed off on the deal as an authorized and acting member of Indulge.
The Barber Group completed construction of the town houses in 2007. The entire project was valued at $4.7 million.
The development consists of 30, two-bedroom units that average 1,000 SF. There are three eight-unit buildings and one six-unit building on the 1.43-acre site. Barber paid $275,000 for the acreage in August 2004.