Real Deals: Bentonville medical office sells for $8.33 million

A 14,938-square-foot medical office building off Southeast Walton Boulevard in Bentonville recently changed hands for $8.33 million. The purchase price equals $557 per square foot.

An affiliate of Nashville, Tenn.-based Montecito Medical Real Estate bought the building on 1.55 acres at 3700 S.E. Dodson Road. The seller was an affiliate of Dallas-based MedCore Partners. Birmingham, Ala.-based Regions Bank provided a three-year loan of up to $150 million.

The single-story building was built in 2025. The MedCore affiliate paid $1.17 million for the property in June 2023. The seller was Jonesboro-based Southern Pioneer Property & Casualty Insurance Co., whose president is Hal Hyneman.

Rogers Apartments
A two-story, 48-unit apartment complex in Rogers has a new owner after a recent transaction worth $7.8 million. The purchase price equals $162,500 per unit. Affiliates of Blue Sky Equities, a New York-based real estate investment firm led by Bob Husni, bought the Embassy Apartments on 4.01 acres at 304 N. 13th Place.

The seller was Lucky Thirteen Opportunity LLC, whose managing member is Thomas Embach, chairman and CEO of Embach Enterprises, a Mountain Home-based construction and development company. New York-based RWC Lending LLC provided a five-year loan of $5.05 million.

Built in 2024, the property includes a single-story, 544-square-foot office and 12 two-story, 5,320-square-foot multifamily buildings. The three-bedroom, two-bathroom units are 1,186 square feet.

Lucky Thirteen paid $400,000 for the property as part of a larger land acquisition in December 2019. The seller was Avance Business Solutions Inc., an Oklahoma entity whose president is Jeremy Avance.

Fayetteville Hotel
A three-story, 58-room hotel in Fayetteville recently sold for $5.5 million. The purchase price equals $94,827 per room.

Berryville-based Arshad Sons LLC, whose member is Fahad Arshad Choudhry; Siloam Springs-based K2 Mount Development LLC, whose member is Faheem A Choudhry; and Berryville-based Shifa Hospitality LLC, whose member is Dharmeshkumar Rameschandra Gandhi, bought La Quinta Inn & Suites by Wyndham Fayetteville on 0.92 acres at 720 E. Millsap Road. Arshad Sons and K2 Mount Development each acquired a 48% interest in the property, while Shifa Hospitality received a 4% interest.

An affiliate of Little Rock-based Pinnacle Hotel Group, led by Chet Patel, was the seller. Huntsville-based Today’s Bank provided a 10-year loan of $4.67 million. Elite Title Co. in Springdale was the title agent.

The Pinnacle Hotel Group affiliate paid $1.62 million for the property in December 2014. The seller was North Dakota-based Midwest Heritage Inn of Fayetteville Inc., doing business as Fairfield Inn, with Richard Larson as president.

Benton County Lots
A 40-lot residential property east of Rogers Executive Airport recently sold for $5.44 million. The purchase price equals $136,000 per lot.

Joplin, Mo.-based homebuilder Schuber Mitchell Homes LLC bought the lots in the Saddle Hill Estates addition, southeast of Cloverdale and Gramling roads. The lots range from 0.68 to 1.51 acres and are in the 12000 blocks of Saddle Hill Lane and Derby Drive, and the 13000 blocks of Rooted Way and Oak Haven Lane.

The seller was Tontitown-based Saddle Hill Estates LLC, managed by Tamara Martin. Grandview, Mo.-based North American Savings Bank F.S.B. provided a $4.08 million construction loan. City Title & Closing LLC was the title agent.

Washington County Abode
A 13,400-square-foot, single-family home east of Fayetteville recently changed hands for $5.3 million. The purchase price equals $396 per square foot.

Gregory Smart and Leslie Smart, trustees of the Blue Hole Trust, bought the home on 5.01 acres on East Bridgewater Lane in the upscale Bridgewater Estates neighborhood. The sellers were Matthew and Lorenza Dunnigan.

The buyers were represented by Rhonda Balmer with Bassett Mix & Associates in Fayetteville. The sellers were represented by Jana-Wrenay Elkins with Gabel Realty in Fayetteville. City Title & Closing LLC was the title agent.

Built in 2020, the five-bedroom, six-bathroom home has an attached six-car garage and a heated pool. The Dunnigans paid $5.4 million for the home in February. The sellers were Stuart and Melanie Scott.

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