Clear Creek Apartments Tip Scale at Nearly $6 Million

Ownership of a 112-unit apartment complex in Johnson recently changed hands in a foreclosure sale worth $5.9 million.

BJM Associates LLC and University Park Development LLC, both of Missouri, bought the Clear Creek Apartments Phase II just off South 48th Street.

BJM is the majority owner with a 70 percent share.

Fieldstone Northwest LLC, led by Carey Smith, was the seller.

Waco Title Co. of Springdale was the closing agent.

Central Bank & Trust Co. of Kansas City, Mo., financed the deal.

The two-story complex was built in 2005 on 9.13 acres and is comprised of seven buildings, offering 48 one-bedroom units and 64 two-bedroom units. 

 

Roundabout Real Estate

Undeveloped commercial land just off Arkansas Highway 12 in Bentonville recently sold for $2.5 million.

Gary Stearman bought the 6.8-acre lot in the Limestone Ranch addition near the roundabout at Southwest Ranch Road, just east of the White Oak Station convenience store.

Leland Tollett, through his LT Investments LLC, was the seller.

Waco Title Co. of Springdale was the closing agent.

The property appraised in 2011 for $1.77 million.

Tollett acquired the lot in September 2010 in a $3.4 million deal that included 14.9 acres.

Commercial Corners LLC, led by Laurence L. Trice, was the seller.

 

Athens Acquisition

Ownership of a commercial warehouse property in the Metro Plaza addition just west of Arkansas Highway 71B in Bethel Heights changed hands in a $1.1 million deal.

Edward Hurley, through his Huark Properties LLC, paid for the 2.54-acre development at 1086 Athens Ave.

Linda Eaton, through her Eaton Properties LLC, was the seller.

First Federal Bank of Harrison financed the deal with a commercial mortgage of $920,000.

City Title & Closing LLC of Fayetteville was the closing agent.

The property includes two buildings totaling about 35,000-SF.