The Maddox apartments in Centerton sell for $34 million

A three-story, 199-unit apartment complex southwest of Arkansas highways 102 and 279 in Centerton recently sold for $34 million. The purchase price equals $170,854 per unit.

An affiliate of Natural Capital Management LLC, whose managing partner is Brad Henry, bought The Maddox on 14.09 acres at 1389 W. Centerton Blvd. Natural Capital is a Little Rock-based investment firm.

The seller was an affiliate of Dallas real estate firm Lurin, led by founder and CEO Jon Venetos. City Title & Closing LLC was the title agent. Pine Bluff-based Simmons Bank provided a two-year loan of $23.8 million.

Built in 2019, the apartment complex offers one, two and three-bedroom units. Amenities include clubhouse, fitness center, pool and pet area.

Lurin bought the property for $36.31 million in June 2022. Tennessee developer Vita Residential was the seller.