The Domain at Fayetteville Sells for $42.2M
by August 5, 2013 12:00 am 127 views
One of the nation’s largest commercial real estate and finance groups now owns one of Fayetteville’s new student-housing developments.
The Inland Real Estate Group of Companies Inc., headquartered in Oak Brook, Ill., paid $42.2 million for The Domain at Fayetteville, a 654-bed asset near the University of Arkansas.
The seller? Asset Campus Housing of Houston, Texas, through its DRI/APRC Fayetteville LLC.
ACH, which manages more than 60 properties in 18 states, paid $3.67 million for the land in January 2012. The Domain was to be its first development in Arkansas.
The 16.24-acre site, formerly a hardwood saw mill operated by Love Box Co., is at Beechwood and Martin Luther King Boulevard.
Students began moving into The Domain on July 31, and the development is fully leased.
Inland is noted for its retail portfolio — they have owned lots of Wal-Mart Stores Inc. locations — and they buy a ton of properties.
Since January 2009, Inland has purchased more than 500 assets, with a combined purchase price of more than $7.5 billion.