Arvest Bank Financing Mathias Construction in Tontitown
by October 12, 2015 12:03 am 344 views
Springdale developer Mathias Shopping Centers Inc., led by president Arthur Thurman, has picked up a five-year mortgage of $4.5 million from Arvest Bank of Fayetteville.
The mortgage is tied to three vacant commercial lots totaling 13.21 acres in Tontitown.
Mathias recently paid $723,400 for the land on Agnes Drive, just south of Hugg & Hall Equipment Co.
Maestri Enterprises LLC, led by Frank Maestri, was the seller.
Thurman said construction should begin soon on four office/warehouse buildings. Sizes are 60,000 SF, 57,000 SF, 15,078 SF and 14,975 SF.
Rental Properties
A total of 60 rental units (27 buildings) in three separate Fayetteville neighborhoods recently sold for a combined $3.3 million, a purchase price of $55,000 per unit.
PBS Properties LLC of Cabot, led by Paul Schmidt Jr., bought the mixture of fourplex, triplex and duplex properties.
Hilltop Properties LLC, led by Cliff Cabaness, was the seller.
Waco Title Co. of Springdale was the title agent.
Community First Bank in Pea Ridge provided financing.
The properties are in Phase III of the Meadowridge subdivision, Phase I of the Northwest Acres subdivision and Phase I of the Fieldstone subdivision.
Savanna Sale
A French Country home in Phase IV of Fayetteville’s Savanna Estates neighborhood recently sold for $915,000.
Joshua Plummer bought the five-bedroom home on North Surrey Crossing from Jeff and Eileen Schomburger.
Kings River Title in Fayetteville was the title agent.
Regions Bank of Birmingham, Alabama, provided financing with a 14-year mortgage of $732,000.
Bassett Mix & Associates of Fayetteville had the listing.
The 5,116-SF home was constructed in 1997 and remodeled in 2006. The property includes a saltwater swimming pool and a separate 960-SF apartment.
Schomburger bought the property for $986,000 in September 2009. Patti Latta was the seller.
New Hope Residence
A 4,885-SF home on 4.97 acres in Rogers has a new owner after a $775,000 sale, a purchase price of $158.64 per SF.
The TNR Family Revocable Living Trust, led by Thomas and Nicole Reynolds, bought the five-bedroom home on West New Hope Road.
The Sallye Ann Hof Trust was the seller.
Waco Title Co. of Springdale was the title agent.
Wells Fargo Bank N.A. of Des Moines, Iowa, provided financing with a 30-year mortgage of $597,000.
The Johnson Smith Team (Fred Johnson and Janice Smith) with Lindsey & Associates in Rogers had the listing.
Maysville Property
A 45-acre estate near the Arkansas/Oklahoma border in Benton County recently sold for $610,000.
Peyton and Amanda Hillis bought the property in Maysville just off Arkansas Highway 43 from John Lykins and his mother, Janice Lykins.
Pinnacle Bank in Joplin, Missouri, provided financing with a seven-year mortgage of $409,266.
The Koenigseder Realty Group (Nate and Jim Koenigseder) of RE/MAX Real Estate Results in Bentonville had the listing for $700,000.
The three-bedroom home has 3,083 SF and was built in 2005. The property has a 2015 appraisal of $527,200.
Lykins acquired the property via trustee’s deed in October for $448,000. The Sallie Simmons Revocable Trust was the seller.