Pinnacle Country Club proved to be a popular destination for buyers of seven-digit homes in 2017.
Of the 19 homes sold for $1 million or more in Washington and Benton counties in 2017, 11 were in the gated golf course community. The most expensive home overall was a $2.27 million spread on Sims Estate Road in Lowell, but the next seven were all Pinnacle Country Club properties.
In 2016, Washington and Benton counties saw 27 seven-digit home sales — 18 of them in Benton County and four of the top 10 in the Pinnacle Country Club community. The 2017 numbers were more in line with 2014, when 18 homes were sold at seven-figure prices; only 10 such homes were sold in 2015.
“Those [$1 million] buyers are few and far between. Last year was more of an anomaly,” said Brandon Long, owner and broker at Weichert Realtors-The Griffin Co. in Bentonville. “Fifteen to 20 sounds about right for northwest Arkansas. The ground is getting more expensive, but a $1 million house is not the norm. A million dollars is still a lot of money to spend on a house in northwest Arkansas.”
Amenities inside and out distinguish the most expensive home, a 6,445-SF dwelling on 46 acres overlooking Beaver Lake with a private dock for six boats and a 1,300-SF guest house.
Nino Ardemagni, owner of Nino’s Trading Co., was the buyer; Bentonville insurance agent Greg Sims was the seller.
The next string of homes all were within an errant hook shot of the Pinnacle Golf Course. Long said he wasn’t surprised, because Pinnacle offers the upper-class lifestyle many buyers of $1 million homes might expect.
“That’s what a lot of them want, and it’s the only $1 million neighborhood,” Long said. “The $1 million lifestyle doesn’t include mowing 2 acres of land; it means a golf course and country club.”
Many of the homes sold had a Walmart Inc. fingerprint — either a seller who had left the company or a buyer who had joined the retail giant.
One that combined the two was a $1.5 million sale on Sept. 19 of a 5,657-SF home on South Queensborough Lane.
The buyers were Gisel and Mike Ruiz, and the sellers were Rosalind and John Wesley Brewer. Gisel Ruiz is the executive vice president of Walmart’s International People Division, and Roz Brewer resigned in January 2017 as CEO of Sam’s Club and was named COO of Starbucks in September.
The Ruizes also sold a home for $1 million that didn’t crack the top 10 list. It was also located in the Pinnacle Country Club subdivision and sold two months after they bought the Queensborough home.
One buyer who was doubly active in northwest Arkansas was Tampa investor Laurice Hachem. Hachem is the president of Hachem Investments and SLH Property Management & Services Inc., and has been heavily involved in the real estate market for several decades, formerly with her late husband, Sam.
Hachem paid $1.57 million on July 28 for a 5,876-SF home — No. 5 on the list — on West Razorback Road in Pinnacle as her residence. The seller was the estate of the Gary and Lois Reinboth.
Less than two weeks later, on Aug. 7, Hachem paid slightly less than $1.4 million for a 6,011-SF home on South Beau Chene Lane in Rogers. South Beau Chene Lane, a small, private community is adjacent to Pinnacle.
1. $2.7 Million
Buyer: Nino Ardemagni
Seller: Greg Sims
Location: Sims Estate Road, Lowell
Date: Sept. 15 | Year Built: 2005 | SF: 6,445
Nino Ardemagni is the president of Nino’s Trading Co., a retail appliance liquidation company with locations in Little Rock and northwest Arkansas. Greg Sims is the president of Sims & Renner Insurance in Fayetteville. In addition to the main house, the property, on 46 acres overlooking Beaver Lake, includes a 1,300-SF guest house, six-slip private boat dock and a saltwater pool.
2. $2.2 Million
Buyer: Gregory and Lisa Smith
Seller: West Highland Designs Inc., led by Jeff McAllister
Location: South Sechrest Circle, Rogers
Date: Feb. 1 | Year Built: 2016 | SF: 8,094
Greg Smith is the executive vice president of supply chain for Walmart U.S. Jeff McAllister is a former Walmart executive who is COO of National Vision Inc. in Atlanta. The property is in the private Pinnacle Country Club subdivision and overlooks the 13th and 14th holes. It has four bedrooms, six bathrooms and five fireplaces.
3. $1.98 Million
Buyer: Derek and Shellie Brown
Seller: Dyer Revocable Trust, led by Jon and Joan Dyer
Location: West Pinnacle Drive, Rogers
Date: March 10 | Year Built: 2000 | SF: 7,861
Derek Brown is an orthodontist who owns Brown Orthodontist in Rogers and Bentonville. John Dyer is the CFO and co-owner of K-Mac Enterprises, a large Taco Bell franchisee. The home is in the Pinnacle Country Club subdivision and overlooks the eighth green. It is three stories with four bedrooms and five bathrooms, along with a private spa and pool.
4. $1.9 Million
Buyer: MAKB Enterprises LLC, led by Patrick Byrd
Seller: Matthew and Catherine Kistler
Location: West Wimbledon Way, Rogers
Date: April 7 | Year Built: 2002 | SF: 9,334
Patrick Byrd is co-founder and CEO of 1912 Walton LLC, a product- and brand-development company in Bentonville. Matt Kistler is a former Walmart senior vice president who is now executive vice president of Symphony Retail Solutions in Atlanta. The home, which was remodeled in 2014, is in the Pinnacle Country Club subdivision and has five bedrooms and 6½ bathrooms, along with a pool.
5. $1.57 Million
Buyer: Laurice Hachem
Seller: Estate of Gary and Lois Reinboth
Location: West Razorback Road, Rogers
Date: July 28 | Year Built: 1992 | SF: 5,876
Laurice Hachem is president of Hachem Investments and SLH Property Management & Services Inc., both of Tampa, Florida. Gary Reinboth, who died in 2015, was a longtime Walmart executive. The home is in the Pinnacle Country Club subdivision and overlooks the 11th hole. It has three bedrooms and three bathrooms.
6. $1.55 Million
Buyer: Tudor Holdings LLC, led by Alex Blass
Seller: Fairchild Inc., led by Nathan Fairchild
Location: South Tudor Lane, Rogers
Date: March 29 | Year Built: 2017 | SF: 6,708
Alex Blass is the vice president of operations and a principal at Sage Partners Real Estate. Nathan Fairchild is the owner of Fairchild Construction in Bentonville. The home is located in the Pinnacle Country Club subdivision. It has four bedrooms, six bathrooms and a pool.
7. $1.5 Million
Buyer: Ruiz Family Trust, led by Mike and Gisel Ruiz
Seller: Rosalind and John Wesley Brewer
Location: South Queensborough Lane, Rogers
Date: Sept. 19 | Year Built: 2013 | SF: 5,657
Gisel Ruiz is the executive vice president of Walmart’s International People Division. Rosalind Brewer was CEO of Sam’s Club and is now the COO of Starbucks. The home is in the Pinnacle Country Club subdivision. It has five bedrooms and eight bathrooms, along with a pool, spa and home theater.
8. $1.43 Million
Buyer: Donna’s Properties LLC, led by Mark Drake
Seller: Leland and Betty Tollett
Location: South Samoset Circle, Rogers
Date: Sept. 20 | Year Built: 1995 | SF: 5,499
Mark Drake is an attorney in Bentonville. Leland Tollett is a former chairman and CEO of Tyson Foods Inc. of Springdale. The home is in the Pinnacle Country Club subdivision and overlooks the 15th hole. It has four bedrooms, six bathrooms, a pool and a second-floor office with a private balcony.
9. $1.39 Million
Buyer: Laurice Hachem
Seller: Spragg Family Trust, led by Gregory and Dawn Spragg
Location: South Beau Chene Lane, Rogers
Date: Aug. 7 | Year Built: 1995 | SF: 6,011
Hachem, of Tampa, also bought the fifth-most expensive house. Greg Spragg, a former executive with Walmart and Sam’s Club, is the president and CEO of Solve for Food in Bentonville. The home is located in the Beau Chene Farms Subdivision. It sits on 1.8 acres and has five bedrooms, 4½ bathrooms, a pool, a game room and an exercise room.
10. $1.32 Million
Buyer: Eric and Julie Haskel
Seller: KOA LLC, led by Oliver Kiesel
Location: Pembrook Circle, Bentonville
Date: May 12 | Year Built: 2017 | SF: 5,706
Eric Haskel is an investment portfolio manager in Bentonville. Oliver Kiesel is the president of OAK Homebuilders in Hiwasse (Benton County). The home, which was under construction last year, is in the Talamore subdivision. It has five bedrooms and five bathrooms and sits on 2.7 acres.
Washington and Benton Counties Home Sales of $1 Million or More in 2017
Ranked by price (in millions)
|$2.27||Nino Ardemagni||Greg Sims||Rural Lowell||Sept. 15||6,445||2005|
|$2.21||Gregory and Lisa Smith||West Highland Designs Inc., led by Jeff and Lydia McAllister||Pinnacle Country Club, Rogers||Feb. 1||8,094||2016|
|$1.98||Derek and Shellie Brown||Dyer Revocable Trust, led by Jon and Joan Dyer||Pinnacle Country Club, Rogers||Mar. 10||7,861||2000|
|$1.90||MAKB Enterprises LLC, led by Patrick Byrd||Matthew and Catherine Kistler||Pinnacle Country Club, Rogers||Apr. 7||9,334||2002|
|$1.57||Laurice Hachem||Estate of Gary and Lois Reinboth||Pinnacle Country Club, Rogers||Jul. 28||5,876||1992|
|$1.55||Tudor Holdings LLC, led by Alex Blass||Fairchild Inc., led by Nathan Fairchild||Pinnacle Country Club, Rogers||Mar. 29||6,708||2017|
|$1.50||Ruiz Family Trust, led by Mike and Gisel Ruiz||Rosalind and John Wesley Brewer||Pinnacle Country Club, Rogers||Sept. 19||5,657||2013|
|$1.43||Donna's Properties LLC, led by Mark Drake||Leland and Betty Tollett||Pinnacle Country Club, Rogers||Sept. 20||5,499||1995|
|$1.39||Laurice Hachem||Spragg Family Trust, led by Gregory and Dawn Spragg||Beau Chene Farms||Aug. 7||6,011||1995|
|$1.32||Eric and Julie Haskel||KOA LLC, led by Oliver Kiesel||Talamore, Bentonville||May 12||5,706||2017|
|$1.25||RPA LLC, led by Richard Arends||Richard and Jian Arends||Fayetteville||Jun. 22||3,452||1950|
|$1.25||RPC Realty LLC, led by Patrick Cameron||Double Honor Ministries, led by Mark Campbell||Pointe Clear Heights, Rogers||Sept. 15||2,370||2003|
|$1.23||Debra Sellers||Park & Prospect LLC, led by David Russell, Clay Morton and Phil Crabtree||Fayetteville||Dec. 13||4,592||2016|
|$1.20||David and Brooke McCulley||Whaley Family Trust, led by Steven and Callie Whaley||Pinnacle Country Club, Rogers||Jul. 14||4,812||2006|
|$1.20||Ron and Heidi Pachura||Pro163 LLC, led by John Starnes||Pinnacle Country Club, Rogers||Oct. 5||3,591||2017|
|$1.06||John David Lindsey and Brooke Johnston||Harvey and Amber Smith||Fayetteville||Aug. 10||6,041||1988|
|$1.05||Clay and Karla Johnson||Payne Construction Inc., led by Mike Payne||Talamore, Bentonville||Mar. 20||4,571||2017|
|$1.05||Martin and Amber Bynum||Brian and Valerie Lynch||Pinnacle Country Club, Rogers||Aug. 11||5,243||2014|
|$1.00||Cottage Home XNA LLC, led by Abigail Caponetti||Ruiz Family Trust, led by Mike and Gisel Ruiz||Pinnacle Country Club, Rogers||Nov. 3||4,756||2005|
Sources: Washington County and Benton County assessors’ offices, real estate records and interviews