Fayetteville Partners Refinance Apartments
by August 23, 1999 12:00 am 64 views
Richard P. and Mary E. Osborne and Tommy G. and Jodi E. Holland refinanced two apartment complexes in Fayetteville. They received a $2.3 million loan May 24 from Arkansas National Bank for the transaction.
The properties include Oakwood Place Apartments at 705 Putman St. and Colonial Arms Apartments at 1211 N. Leverett Ave. Oakwood has 58, two-bedroom units that average 875 SF. Colonial’s 68 units range from one- to three-bedroom units and vary in size from 600 SF to 1,000 SF.
Both facilities, which occupy 1.5 city blocks each, feature swimming pools and laundry amenities. The owners say they are currently seeking tenants for the apartments.
The Osbornes and Hollands have owned Oakwood and Colonial for 14 years.