The Hill Place student apartment complex in Fayetteville sold for a little more than $75 million to a New York real estate group.
The complex, on South Royal Oak Parkway, has 268 units totaling 27,060 SF and 840 beds. It sits on 26 acres on the University of Arkansas campus.
The buyer was Timberline Real Estate Ventures of Rye through its Hill Place SH Owner LLC. Timberline will operate the complex through its subsidiary. On its website, Timberline said it had acquired more than $3.5 billion in property since 2012.
Timberline is led by founding principals Andrew Stark and Nathaniel Fowler.
The seller was Cardinal Group Cos. of Denver through its subsidiary Cardinal Group Fayetteville I LLC. Cardinal Group acquired the property for $53.3 million in 2017.
Timberline assumed the existing $50.3 million mortgage held by Deutsche Bank.
VERVE Fayetteville
A St. Louis student housing development company is bringing a $93 million complex to Fayetteville.
Subtext paid nearly $8.8 million in three transactions for the project site on Treadwell Street. Subtext obtained a $93 million construction mortgage through Kenney-Wilson Capital of Beverly Hills, California, and expects construction to be completed by August 2027.
Modus Studio of Fayetteville is the architect for the project, which is called VERVE Fayetteville. It will be seven stories with 272 units and 845 beds, along with a host of amenities.
The primary acquisition was for $6.75 million for the 40-unit Summit Terrace apartment complex on Treadwell. The seller was Kerr Investment Co., led by Katherine Faught.
Subtext paid $1.65 million to 98 Duncan LLC for a six-unit apartment complex; the sellers were Marcus and Alexis Necessary. Subtext paid $375,000 for an adjacent parcel on Duncan Avenue; the sellers were Kim and Cecily Brawner.
The project site is one block east of Harmon Field, the Fayetteville High School football stadium.
Endeavor Fayetteville
Endeavor Real Estate Group of Austin, Texas, added to its property acquisitions in preparation for its large project adjacent to the VERVE site.
Endeavor paid $1.7 million for two houses on South Duncan Avenue. The two tracts total a little more than 0.6 acre and are between Harmon Field and the VERVE project site.
The sellers of both properties were Edward and Elizabeth Mick. The Micks bought one property for $60,000 in 1999, and the second property for $106,500 in 2000.
Endeavor plans to build a 294-unit complex complete with a parking garage at the location. Principal Jake Newman, in a social media post, said he hopes groundbreaking for the project will happen in early 2026.
In December 2024, Endeavor paid $4 million for the Harmon Place Apartments, at the north end of the projected complex, and $1.5 million for an adjacent 1,800-SF duplex.
Cross Church Farmington
Cross Church of Springdale plans to open a location in Farmington after a $5.8 million acquisition.
Cross Church bought a 23,218-SF building that was home to Brand New Church on Main Street. Brand New Church recently moved to a new location a few blocks farther west.
Cross Church has locations in Rogers, Springdale and Fayetteville. In a social media post, senior pastor Nick Floyd said that the church had been looking to expand because of the popularity of the Fayetteville location and the Farmington church is expected to open in 2026.
The seller was Farmington JK LLC, led by Jordan Jeter. Jeter’s group paid $1.1 million for the property in 2016. The building previously was a grocery store and retail outlet site.
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