Real Deals: 3 apartment complexes sell for $17.82 million

Three apartment complexes comprising 274 units in Benton and Washington counties recently changed hands in multiple transactions for a total of $17.82 million. The purchase price equals $65,066 per unit.

Affiliates of Brooklyn, N.Y.-based real estate company Read Property Group bought the 129-unit Mill Creek Apartments on 14.96 acres at 126 Rhodes Ave. in Springdale, 104 units of Nantucket Apartments on 9.4 acres at 611 E. Nantucket Drive in Fayetteville, and the 41-unit The Patio Homes of Persimmon on 5.48 acres at 503 N. Persimmon Circle in Rogers.

The sellers are affiliates of Natural Capital, a Little Rock-based investment firm whose managing partner is Brad Henry. City Title & Closing LLC was the title agent.

Built in 2006, Mill Creek Apartments includes one- and two-bedroom units. Built between 2000 and 2013, Nantucket Apartments includes one- and two-bedroom units and a clubhouse. Built in 2017, The Patio Homes of Persimmon includes one- and two-bedroom units, a clubhouse and attached garages.

The Natural Capital affiliates bought Mill Creek Apartments in separate transactions in November 2020 and September 2021 for $6.75 million, Nantucket Apartments in separate transactions in November 2020 and June 2023 for $3.72 million, and The Patio Homes of Persimmon in October 2020 for $2.67 million. The sellers were affiliates of Mountain Home-based Leisure Homes Corp., led by Tom Embach.

Fayetteville Land
Nearly 17 acres of pasture east of Holt Middle School in western Fayetteville recently sold for $5.25 million. The purchase price equals $313,995 per acre.

An affiliate of Lowell-based real estate developer ABZ Development LLC, whose authorized manager is Bryan Loyd, bought the 16.72-acre property northeast of West Mount Comfort Road and North Rupple Road.

The seller was Tontitown-based homebuilder Landmarc Custom Homes LLC, whose member is Chris Bradley. Killeen, Texas-based First National Bank Texas provided an 18-month loan of $9.67 million.

Landmarc bought the land in separate transactions in June 2020 and July 2021 for $875,000. The sellers were Tony Hardin and Sharrol Hardin.

Rogers Commercial
Two commercial buildings totaling 38,496 square feet in west Rogers have a new owner after a recent transaction worth $4 million. The purchase price equals $103 per square foot.

BES Realty LLC, whose president is Joseph Miller, bought the buildings on 1.01 acres at 401-403 S. Rainbow Road, comprising Dual Cities NWA. According to its website, it includes six indoor pickleball courts and a CrossFit gym and will soon have a bar, café and golf simulators.

The seller was LEM 3 Real Estate LLC, led by John Westling Jr. of Bentonville. Sioux Falls, S.D.-based Wells Fargo Bank, National Association, provided a five-year loan of $2.32 million.

LEM 3 bought the property as part of a larger land purchase for $1.01 million in November 2018. The seller was Willa Jean Lawson.

Fayetteville Pasture
More than 16 acres of pasture in west Fayetteville recently sold for $3.67 million. The purchase price equals $224,862 per acre.

Fayetteville builder J & M Capital Ventures LLC, led by Jon Brittenum Jr., bought the 16.34-acre property at 3900 W. Dinsmore Trail, southeast of the roundabout at West Tofino Drive and South Rupple Road.

The seller was TABA20 LLC, managed by Mark Marquess, CEO of Fayetteville homebuilder Riverwood Homes. Paragould-based First National Bank provided an 18-month loan of $2.38 million.

TABA20 bought the property as part of a larger purchase for $5.85 million in December 2025. The sellers were Gerald Teague and Sondra Alderson, successor co-trustees of the Frances Teague Revocable Trust.

Bentonville Office
A 9,722-square-foot office building in Bentonville recently sold for $3.6 million. The purchase price equals $370 per square foot.

Bentonville-based Traverse Group Inc. bought the building on 1.61 acres at 205 S.E. 22nd St. It’s the company’s new global headquarters. The seller was Mojo Investment Group LLC, whose members are David Trudo and Nicole Trudo.

Mojo paid $266,000 for the property in November 2016. Bentonville-based ProCon Inc. was the seller.

Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.