New Apartment Projects are in motion for Little Rock and North Little Rock

by Arkansas Business Staff  on Monday, May. 30, 2011 12:00 am  

Two apartment projects are in the works after seven-digit land deals, and two existing projects rang up seven-digit sales.

An affiliate of Post Investment Group of Los Angeles bought a 13-acre site in North Little Rock for $1.84 million to develop a 264-unit luxury project dubbed Riverside at Rockwater.

The seller? North Bluffs Development Corp., led by Lisa Ferrell.

The property has frontage on River Road to the south and will be connected with West Third Street to the east.

In west Little Rock, Mid-America Apartment Communities Inc. of Memphis purchased a 26-acre site at 5400 Chenonceau Blvd. from Deltic Timber Corp. of El Dorado.

MAA already is busy developing the property into the Ridge at Chenal Valley, a 312-unit project.

Meanwhile on the sales front, affiliates of The Omnicorp Group of Atlanta sold two west Little Rock projects.

RCP Colony LLC of New York acquired the 126-unit Colony West Apartments at 1420 Breckenridge Drive for $3.2 million. The seller was Colony West Associates II Ltd.

Stash Properties LLC, led by Ricky Starks and Jennifer Cash, bought the 88-unit Breckenridge Square project at 1001 Breckenridge Drive. The seller was Brenckenridge Associates II Ltd.

 

 

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