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Wednesday, February 26, 2020
Real Deals: Apartment deals in Rogers top a combined $92 million


By: Paul Gatling

Source: https://talkbusiness.net/2020/02/real-deals-apartment-deals-in-rogers-top-a-combined-92-million/

A Missouri-based real estate company recently paid $55.99 million for a 426-unit multifamily asset east of Interstate 49 in Rogers. The purchase price equals $131,443 per unit.

Limited liability companies controlled by Block Real Estate Services in Kansas City, Mo., bought the 20.2-acre Woodland Park development at 4000 S. Dixieland Road, north of Pleasant Grove Road. The craftsman-style development features two- and three-bedroom townhomes with and without garages and one- and two- bedroom flats. Sizes range from 720 square feet to 1,513 square feet. The property includes a clubhouse, fitness center, playground and resort-style swimming pool.

Woodlandparkgrove LLC, an entity controlled by Orchard Properties of Fayetteville, was the seller.

The sale was backed with a 10-year Freddie Mac loan of $42.01 million from NorthMarq Capital LLC of Minnesota.

City Title & Closing of Fayetteville was the title agent.

Full Article Available At:  https://talkbusiness.net/2020/02/real-deals-apartment-deals-in-rogers-top-a-combined-92-million/

Tags:    Block Funds   Block Real Estate Services   Real estate asset management   Multifamily   Investment real estate   BRES