Cushman & Wakefield Arranges $20.925 Million Sale of 360-Unit Multifamily Housing Portfolio in Multiple Arkansas Markets

LITTLE ROCK, AR – Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of five Arkansas multifamily properties that comprise the Arkansas 360 Portfolio – Cottages of Hot Springs, Glen Oaks, Indiandale Manor, Village Meadows, and Woodland Terrace. Totaling 360 units, the properties were acquired by several buyers and the final portfolio sale price was $20,925,000.

Martin Bynum, Cole Herget, and Craig Hey of Cushman & Wakefield represented the seller, The Danny Thomas Company in the transactions. The multifamily portfolio includes:

  • Cottages of Hot Springs, a 72-unit community in Hot Springs acquired by Lin Brothers Investment, LLC
  • Glen Oaks, a 56-unit community in Fort Smith acquired by Safe Harbor
  • Indiandale Manor, a 132-unit community in Hot Springs acquired by Anabolic
  • Village Meadows, a 40-unit community in Fort Smith acquired by Safe Harbor
  • Woodland Terrace, a 60-unit community in Little Rock acquired by Wild Oak

"The Arkansas 360 Portfolio presented a great opportunity to acquire scale, below replacement cost, in tightening submarkets with rising rents,” said Bynum, Director at Cushman & Wakefield. “New ownership is excited to initiate a value-add strategy to capture the allure of the expanding and diverse renter pool in Little Rock, Hot Springs, and Fort Smith."

Built between 1973 and 2005, the five-property portfolio is strategically located throughout the state of Arkansas and is near major employers and a variety of nationally recognized retail establishments.

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 95-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2021, the group closed $13.8 billion in sales volume through 429 deals and nearly 85,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com.

About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

TRENDING

Multifamily Housing Industry's Reliance on ADA Accessibility Overlay Widgets for Website Compliance are Becoming High-Risk Targets NEW YORK, NY - Multifamily housing operators have faced a series of challenges in recent years, from rising interest and insurance rates to a wave of new regulations and scrutiny over their use of revenue management software to set rents. Amidst the turbulence of navigating these complexities, a...

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.