A community of duplexes in west Little Rock sold Nov. 9 for $7.7 million.
Commercial real estate and development firm Colliers International Arkansas in Little Rock announced the deal Friday (Nov. 20).
Kanis Realty LLC, registered to Jian Fei Lin of Rogers, is the new owner. Nichols & Dimes LLC and Perry’s Pennies LLC, both of Little Rock and registered to Roger Coburn, were the previous owners.
Referred to as the Kanis Duplex Community, the property consists of 96,394 square feet in 64 units in 32 buildings along several streets in west Little Rock: West 20th Street, Wilson Road, Perry Street, Jr. Deputy Road and Nichols Road. The occupancy rate was not disclosed.
Cole Herget with Colliers International Arkansas represented both the buyer and seller in the deal.
“This transaction demonstrates how the Arkansas multifamily sector remains stable and healthy despite the COVID-19 pandemic,” Herget said. “Investor confidence remains strong and many transactions are still being completed. We expect to see this activity continue in the coming months.”