Fayetteville-based Caisson acquires Little Rock apartments

by Talk Business & Politics staff ([email protected]) 458 views 

Fayetteville-based real estate investment firm Caisson Capital Partners recently purchased an 184-unit apartment complex in Little Rock for $20.25 million. The purchase price equals $110,054 per unit.

According to a news release, the acquisition of Parham Pointe Apartments expands the company’s attainable housing portfolio. The apartments are in Little Rock’s medical corridor, home to seven hospitals and a growing workforce of more than 25,000 professionals.

Built in 2003, Parham Pointe Apartments offer nine-foot ceilings and floorplans averaging more than 1,000 square feet. The release shows Caisson plans to improve the apartments by adding in-unit washers and dryers, stainless steel appliances and upgraded community amenities

“This acquisition exemplifies our focus to provide quality housing that meets the needs of growing communities like Little Rock,” said David Friedland, partner and head of acquisitions. “By improving Parham Pointe’s amenities and operations, we aim to enhance the living experience for residents while also contributing to the city’s broader economic growth.”

“Acquiring this property aligns perfectly with our mission to create value for both tenants and investors by improving communities,” said Bo Diamond, managing partner of Caisson Capital Partners. “With Parham Pointe, we are addressing the need for well-located, quality attainable rental housing in a city experiencing strong job growth, particularly in the medical sector surrounding the property.”

The transaction includes the assumption of a 3.46% fixed-rate Fannie Mae loan. The release shows that Caisson aims to “maximize tenant satisfaction while delivering strong investor returns over a seven-year hold period.”