A Fayetteville investor paid $2.5 million for a complex of condominiums.
Molly Court LLC, led by Jeff Koenig, bought the multifamily property at Molly Court and Leverett Avenue in Fayetteville. The complex has 18,800 SF with 19 units: 13 two-bedroom units and six three-bedroom units.
The seller was North Street Condos LLC, led by Stan Szymd. Szymd and partner Steve Hankins purchased the property for $2.6 million in 2006 from North Corner Condos LLC, led by Seth Kaffka.
Arvest Bank assisted the purchase with a loan of more than $3.8 million.
Twin Bridges Apartments
A six-unit apartment complex on Bowen Boulevard sold for $485,000.
KBRB LLC of Fayetteville, led by Michelle Brockman, bought the property, which is on the White River on Highway 45, also known as Bowen. The complex has several buildings on 5.2 acres.
The seller was Mathias Ventures Inc. of Bentonville, which is led by J. Mark Mathias. Mathias bought the property for $468,000 in December 2016 from Casa Americana Inc., led by Linda Parnell.
Simmons Bank provided a loan of $364,000. KBRB also agreed to a mortgage of $70,000 with Mathias Ventures.
Kenwood Village
A Fayetteville investor bought a Fayetteville apartment complex for more than $1.1 million.
Wilkerson Street LLC, led by Robert Stophlet, bought Kenwood Village, a 20-unit facility at 6200 S. Wilkerson St. The property sits on about an acre of land and has more than 10,000 SF.
The seller was Dixieland Renovations LLC, led by John and Jeffrey Mathias. Dixieland purchased the property in 2015 for $450,000.
Innovative Capital Advisors of Leawood, Kansas, assisted the purchase with a loan of $862,500.
Blockbuster Building
A former Blockbuster Video store on West Sunset Avenue in Springdale sold for $650,000.
Mancia Properties LLC of Springdale, which is a subsidiary of David Mancia’s Mancia Investments, bought the 6,000-SF building at 1975 W. Sunset.
The building has been vacant since Blockbuster Video went the way of the dodo.
Mancia bought the property from Superior Properties Plus, led by Jim Barnes. Superior Properties has owned the property since 1994, when it bought it for $325,000.
United Bank provided a loan of $569,500.
Blake Business Center
A 8,000-SF retail center sold for $488,000 in Springdale.
Coleman Properties of NWA LLC, led by Jason Coleman of Springdale, bought the Blake Business Center at 2200 W. Sunset Ave. The retail center covers a little less than 1 acre.
The seller was Sosa Properties LLC of Fayetteville, led by Luis Sosa. Sosa purchased the property in 2015 for $375,000.
Signature Bank of Fayetteville lent $488,000 for the project.
Springdale Land
Two tracts totaling more than 7 acres just off Sunset Avenue in Springdale sold for $725,000.
Springdale Hotels LLC of Broken Arrow, Oklahoma, led by Vipulkumar K. Patel, was the buyer. The two tracts are adjacent to the retail center anchored by Lowe’s on Sunset.
Mitchell Family Holdings LLC of Fayetteville, led by Steve Mitchell, was the seller. Mitchell Family Holdings has owned the property since 2005.
First Pryority Bank of Tulsa assisted the purchase with a loan of more than $543,000.
Elm Springs Road
A 2-acre plot just off Interstate 49 at the Elm Springs exit in Springdale sold for $1 million.
ARSPR LLC, led by Christian Baldwin of The McLain Group, a real estate development firm in downtown Fayetteville, was the buyer. The seller was Mathews Investments LLC of Springdale, led by Vicki Ann and Bette J. Mathews.
Chambers Bank of Danville assisted the purchase with a construction loan of $2.55 million.