Apartment complex sales are top Sebastian County deals to close out 2024
by April 10, 2025 9:58 am 556 views
A flurry of apartment complex sales in Fort Smith during November and December were most of the top Sebastian County property deals in the final two months of 2024. Apartment property sales are the top property deals in 2024 and 2023.
Transaction information is from the office of Sebastian County Assessor Zach Johnson and is comprised from deed transfers that include the sale price.
The top county deal in the November-December period was the $7.039 million sale of The Reserve at Chaffee Crossing at 9505 Chad Colley Blvd. The Reserve Property Investors LLC sold the large apartment complex — which has a small movie theater, resort-style pool area, and small dog park — to a group of investors that included Santa Cruz, Calif.-based Canyon View Capital. The deal closed Dec. 13.
The Addison Place Apartments at 3415 S. 66th St. in Fort Smith sold for $5.6 million in a deal that closed Dec. 4. Bentonville-based Big Bear Investments LLC sold the property to Fort Smith-based Addison Apartment Investor LLC.
The Forrest Brook Apartments at 3014 Presley St. in Fort Smith and a smaller apartment property at 3108 Park Ave. sold for $3.5 million in a deal that closed Nov. 21. Phase II Investments LLC sold the property to Stone Creek Properties LLC.
The top 10 property deals by value in November and December totaled $10.087 million and $24.419 million, respectively.
The top Sebastian County property transaction during 2024 was a $7.195 million deal for duplexes near the Arkansas River Valley Nature Center at Chaffee Crossing. The property was sold by Platinum Building Group, owned by Fort Smith-based Norris Group, to Bentonville-based Sanders Properties. The deal closed Feb. 5. Sanders Properties also paid $2.855 million in July 2023 for two apartment properties at 7800 Joseph St. and 1615 Jackson St. in Fort Smith.
The largest deal in 2023 was the $5.7 million sale of Southbrooke Apartments at 8201 U.S. 271 S. in Fort Smith. The complex was sold by Dallas-based FS Southbrooke to Fort Smith-based Southbrooke Fort Smith. The new owners said they planned to renovate the 129-unit apartment complex.
A $20.387 million sale of the new Veterans Affairs Clinic in Fort Smith and associated property was the largest Sebastian County property deal in 2022.