LITTLE ROCK, AK – Cushman & Wakefield announced that the commercial real estate services firm has arranged the $78,750,000 sale of Landmark Apartments, a newly built 372-unit multifamily community located in Little Rock, Arkansas.
Martin Bynum and Cole Herget of Cushman & Wakefield represented the seller, Landmark Apartments II, LLC, in the transaction. The multifamily community was acquired by Canyon View Capital in two phases – for $40,250,000 in February 2023 and $38,500,000 in February 2024.
"The West Little Rock/Chenal submarket continues to produce the best multifamily pricing dynamics in the broader Little Rock metro area, as exemplified by the Landmark transaction. To complete this transaction in arguably the most challenging market conditions we’ve seen in over 20 years is a testament to all parties involved. The seller and buyer deserve all the credit and should be commended for seeing this sale through,” said Bynum, Director at Cushman & Wakefield.
Landmark Apartments was expertly constructed in two phases by VCC Construction, with the first phase of 196 units completed in 2017 followed by an additional 176 units in 2023. As a premier multifamily community, Landmark Apartments offers residents an array of upscale amenities, including two fitness centers, coffee station, tanning salon, two large pools, business center, outdoor oversized games, dog park agility course, and garages for vehicle parking. With meticulous attention to detail and a commitment to excellence, VCC Construction ensured that Landmark Apartments embodies the epitome of modern living.
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 2023, the group closed $5 billion in sales volume through 151 deals and 26,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com
About VCC Construction: VCC Construction is a leading contractor with a nationwide presence, boasting nine offices strategically located across the country. With a proven track record of delivering exceptional results, VCC Construction has earned a reputation as a trusted partner in the construction industry. Known for their ability to serve across all product sectors, from commercial and multifamily to retail and entertainment, VCC Construction is dedicated to exceeding client expectations and shaping the built environment across the nation.
About Canyon View Capital: Canyon View Capital (CVC) is a Private Real Estate Investment Firm located in Santa Cruz, California. With a strong focus on the heartland of America, they specialize in acquiring, developing, and managing multifamily real estate assets, now valued at over $1 billion. CVC has been building a diversified apartment portfolio for over two decades, all while providing affordable housing to their residents and various career paths and ownership opportunities to team members.
About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more.