Real Deals: Siloam Springs apartments sell for $10.8 million

A two-story, 108-unit apartment complex in Siloam Springs recently changed hands for $10.8 million. The purchase price equals $100,000 per unit. A New York-based limited liability company managed by Alex Roth bought Remington Park Apartments on 6.33 acres at 1050 N. Britt St.

The seller was a Midland, Texas-based limited liability company managed by James Woodcock.

Rogers-based Generations Bank provided an 18-month loan of $9.38 million. It also provided separate loans of $360,000 and $240,000. City Title & Closing LLC was the title agent.

Built in 2002, the apartment complex includes one- to two-bedroom units that range from 774 to 987 square feet.

Limited liability companies managed by Woodcock recently sold five two-story apartment complexes comprising 389 units in Springdale to limited liability companies managed by Roth for a combined $35.85 million.

The limited liability company managed by Woodcock paid $6.6 million for the Remington Park Apartments property in October 2019. The seller was Fayetteville-based NWA Community Builder LLC, whose authorized agent is Rob Kimbel.

Cincinnati Farm
A 60-acre poultry farm in western Washington County has a new owner after a recent transaction worth $5.2 million. The purchase price equals $86,666 per acre.

Allison Farm LLC, whose member is Dai Phuong Tran, bought the farm, southwest of Cincinnati and Hat Gilbreath roads near the Cincinnati community. The sellers were Calvin Truong and Thuy Linh Thi Pham. Pine Bluff-based Simmons Bank provided a five-year loan of $4.3 million.

The property includes six 41,650-square-foot poultry houses, 1,536-square-foot and 1,120-square-foot single-family homes, barn, shed and utility building. The poultry houses, the larger home and utility building were built in 2019.

Truong and Pham paid $800,000 for the property in December 2017. The seller was the Donald Lee Gilbreath Irrevocable Trust, whose trustee is Mike Gilbreath.

Bentonville Abode
A two-story, 3,898-square-foot home surrounded by more than 20 acres of timber in Bentonville recently sold for $4.92 million. The purchase price equals $1,262 per square foot.

Meehan Farms LLC, managed by Nathan Meehan, bought the home on 28.36 acres in the Seay addition on Northwest Third Street.

The sellers were T. Christopher Seay and Kimberly Seay. The sellers were represented by Brandie Perry with Better Homes and Gardens Real Estate Journey in Bentonville. The buyer was represented by The Diaz Team with Keller Williams Market Pro Realty – Rogers Branch. Waco Title Co. in Springdale was the title agent.

The five-bedroom, six-bathroom home was built in 1993, and the property includes a pool, barn and garage. The Seay family purchased the property in separate transactions totaling $571,000 in March 2003 and September 2004. The seller was Howard McDaniel.

Siloam Springs Medical
A single-story, 6,402-square-foot medical office building in Siloam Springs recently sold for $4.88 million. The purchase price equals $763 per square foot.

A Fort Lauderdale, Fla.-based limited liability company managed by Griffin Brock bought the Join Parachute LLC plasma donation center on 1.16 acres at 1993 U.S. Highway 412 East.

The seller was a New York-based limited liability company whose authorized representative is Kevin Ross. Kansas City, Mo.-based Lead Bank provided a $3.17 million loan. City Title & Closing LLC was the title agent.

The single-tenant medical office building was built in 2024. Austin, Texas-based Parachute has an extendable 20-year lease on the property. It’s one of four Parachute donation centers in Arkansas.

The limited liability company whose authorized representative is Ross bought the property for $580,000 in June 2023. The sellers were John Pearson and Deidra Pearson.

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