Apartment Complex Near UA Sold for $20.2 Million

A Class A student-housing development near the University of Arkansas recently sold for $20.2 million.

Bridge Partners, a real estate investment company headquartered near San Francisco, bought The Crowne at Razorback apartments near the intersection of Razorback Road and 15th Street. The purchase was made in the name of Bridge-Arkansas L.P.

Crowne Apartments at Razorback Road LLC, owned by Crowne Partners of Birmingham, Ala., was the seller.

First National Title Co. in Bentonville was the closing agent.

Financing was executed through a Freddie Mac loan assumption, valued at $14.2 million and held by U.S. Bank.

The 40-acre complex was built in 2005 and has 480 bedrooms, contained in one-, two- and three-bedroom units.

 

Broiler Buy

A 10-house broiler farm on 40 acres in Lincoln recently drew a $1.94 million sale, about $48,500 per acre.

The Chicken Ranch LLC, led by Keina Reed, bought the property on Cox Road from Tin and Thao Nguyen.

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

Legacy National Bank of Springdale financed the deal with a 10-year mortgage of $1.92 million.

The property also includes a 1,385-SF house and 10 chicken houses.

Nguyen paid $2.05 million for the property in April 2008. ABC Farm LLC was the seller.

 

Commerce Sale

Undeveloped commercial land in the Commerce Park addition of Lowell recently sold for $1.26 million.

First Flight Investments LLC of Tulsa bought 9.29 acres just north of the FedEx Ground facility at 1201 Federal Way, just off Arkansas Highway 264.

264 Investments LLC of Little Rock, led by David Boerner and Stephen Plunkett, was the seller.

First National Title Co. in Bentonville was the closing agent.

 

Agri Acquisition

A 22-acre agricultural property in Lincoln recently sold for $930,000.

Wesley and Lucretia Nash bought the property on West Highway 62 from John and Marcia Blosser.

Arvest Bank of Fayetteville financed the deal with a 15-year mortgage of $861,300.

Waco Title Co. of Springdale was the closing agent.

The property includes a 2,557-SF home built in 1990 and four chicken houses, which each measure 40 feet by 360 feet.

Blosser bought the property in February 2008 for $955,000.

 

Pinnacle Property

Undeveloped acreage in the Pinnacle Heights addition of Rogers recently sold for $878,169.

Legacy National Bank of Springdale bought 1.12 acres between Pinnacle Hills Parkway and J.B. Hunt Drive.

The site will be developed into a 6,000-SF regional banking center for LNB.

Johnelle Hunt, through her Pinnacle Corner LLC, was the seller.

Pinnacle Corner acquired the land in December 2007 from HSG Holdings LLC, led by Bill Schwyhart, for $950,000.

 

Thornbury Abode

A 5,435-SF home in Phase V of the Thornbury addition of Springdale has a new owner after a $607,000 sale.

Jeffrey Todd Inloe bought the Sienna Cove property from Clay and Heather Maxey.

Maxey bought the lot from Neil Johnson in April 2006 for $96,000. The property has a lot size of 0.61 acres and the four-bedroom home was built in 2007.

The home last appraised in 2011 for $627,850.

 

Willow Residence

A recently renovated home in the Davidson’s First addition of Fayetteville has a new owner after a $579,000 sale.

Anibal Camara Sodero and his wife, Anna Goussevskaia, bought the 2,350-SF home on North Willow Avenue from Mark Zweig Inc.

UARK Federal Credit Union of Fayetteville helped finance the deal with a 15-year mortgage of $417,000.

Advance Title & Escrow was the closing agent.

The single-story home was built in 1906. Zweig paid $277,000 for the property in June 2013. The estate of Kenneth Ben Ball was the seller.