Real Deals: 143 lots in Pea Ridge sell for $10.5 million
by February 23, 2026 11:32 am 2,057 views
A 143-lot residential property in Pea Ridge recently sold for $10.51 million. The purchase price equals $73,500 per lot.
A fund of New York-based real estate investment platform TPG Angelo Gordon bought 75 of the lots in the first phase of the Lexington addition, northwest of Bussey Lane and East Pickens Road (Arkansas Highway 72).
TPG Angelo Gordon’s Essential Housing primarily provides land financing for homebuilders and has a two-year, option-to-purchase agreement on the lots with Joplin, Mo.-based homebuilder Schuber Mitchell Homes LLC. The companies have a similar agreement for the second phase of the Bariloche addition on Klenc Road in Tontitown.
Tontitown-based Northrock Holdings LLC, led by Justin Salter, bought 68 of the lots in the first phase of the Lexington addition. The seller was Bentonville-based Kinney Creek Development LLC, whose member is Michael Seay.
Booneville-based First Western Bank provided 13 one-year loans totaling $4.27 million to Northrock Holdings. Waco Title Co. was the title agent for the 75-lot transaction. Realty Title & Closing Services LLC was the title agent for the 68-lot transaction.
Kinney Creek purchased the property in a larger land transaction for $3.5 million in September 2023. The seller was Pea Ridge-based P-M Rentals Inc., with Deborah Phillips as president.
D.R. Horton Lots
A 55-lot residential property in Springdale and a 52-lot residential property in Prairie Grove recently changed hands for a combined $9.67 million. The purchase price equals $90,420 per lot.
A Northwest Arkansas affiliate of Arlington, Texas-based homebuilder D.R. Horton Inc. bought 55 lots in the first phase of the Whispering Springs addition, off Hylton Road and south of Don Tyson Parkway and Charlie and Willie George Park, and 52 lots in the second phase of the Selah Meadows addition, southwest of Butler Road and East Heritage Parkway (U.S. Highway 62).
Lowell-based Bentley Holdings LLC, whose president is Gene Nicholas, was the seller of the Springdale property, while Fayetteville-based Riggins Construction of NWA Inc., whose member is Kevin Riggins, was the seller of the Prairie Grove property.
Bentley Holdings purchased the Springdale land as part of a larger transaction for $6 million in July 2023. The seller was Cave Springs-based MRKJM Holdings LLC, managed by Misty McMullen and Justin Salter. Riggins Construction purchased the Prairie Grove land as part of a larger purchase for $1.61 million in May 2023. The seller was Fayetteville-based Green Prairie Investments LLC, managed by Brad Smith.
Benton County Property
A 40-acre property off Arkansas Highway 72 near Pea Ridge has a new owner after a recent transaction worth $5.5 million. The purchase price equals $137,500 per acre.
A limited liability company whose name is the property’s address bought the property on Spanker Creek Road that includes a 3,226-square-foot single-family home, a 5,880-square-foot office and warehouse building, and various sheds. The company’s registered agent is Denton Woods, partner at law firm RMP LLP in Johnson. The sellers were Chris McDaniel and Shelli McDaniel, managers of CSM Farms LLC in Bentonville.
The McDaniels purchased the property for $309,000 in May 2009. Community First Bank, with Tim Wang as vice president, was the seller.
Pea Ridge Homes
Twelve single-family homes in Pea Ridge recently sold for $3.88 million. The purchase price equals $323,337 per home.
Steppingstone Home Rentals LLC, whose sole member is Joplin, Mo.-based homebuilder Schuber Mitchell Homes, bought the homes in the 1700 blocks of Bugg, Ferguson and Farmer streets in the first phase of the Yorktown addition, and in the 1800 block of Porter Street in the Concord addition. The seller was Schuber Mitchell Homes.
Fayetteville-chartered Arvest Bank provided a two-year loan of $2.98 million. Allegiance Title Co. was the title agent.
The single-story homes were built in 2025 and range from 1,168 to 1,754 square feet. Lot sizes range from 0.19 to 0.24 acres. Schuber Mitchell bought the property as parts of larger land transactions for $3.06 million in January 2025 and $3.02 million in October 2024. The seller was Kinney Creek Development LLC.
Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.