Two Pulaski County apartment projects changed hands in separate transactions totaling $21.8 million.
The Grove at Pleasant Ridge, a 225-unit apartment complex at 11901 Pleasant Ridge Road in west Little Rock is under new ownership after a $19 million sale.
Vintage Pleasant Valley LLC of Shreveport sold the project to an investment group overseen by Canyon View Capital of Santa Cruz, California.
New ownership is divided among OS Grove SPE LLC, led by Gary Rauscher, 31.7 percent; Grove at Pleasant Valley Investors LLC, led by Rauscher, 25 percent; Loren and Amanda Gundersen, 12.5 percent; Karen L. Hovekamp Trust and Lisa H. Jensen Trust, 11.5 percent each; RSJ Cameron LLC, led by Rodney Stewart, 4.5 percent; and the namesake trust of Paul and Susan Germeraad, 3.3 percent.
Gary Rauscher is president of Canyon View Capital.
Jacksonville Apartments
AndMark Eastwood Apartments LLC, an affiliate of the AndMark real estate investment firm of Los Angeles, acquired its namesake 96-unit project at 1011 S. James St. in Jacksonville for $2.8 million.
The seller is Gray Joint Revocable Trust, led by Bart Gray Jr. and his wife, Carolyn.
