Steeplechase Apartments Tracks $8.3M Purchase

Steeplechase Apartments Tracks $8.3M Purchase
(Google Earth/Mapbox)

Apartments, a postal project and a grand home join with a convenience store for this week’s team of million-dollar real estate transactions.

► Affiliates of Hyde Capital in Memphis sold the 128-unit Steeplechase Apartments project at 2695 S. Second St. in Cabot for $8.3 million to I3 Steeplechase Holdings LLC, led by Peggy Sim and Yufang Pang.

Sellers: Steeplechase AR LLC, Hyde Multifamily Investments and Verdot Properties LLC.

► Primo Apartments at Trinity Village LLC of Southlake, Texas, bought the 156-unit Trinity Village complex at 1600 John Barrow Road in west Little Rock for $5.5 million.

Seller? Republic Trinity Village Ltd., an affiliate of Toronto’s Republic Funds

► FDI Postal Properties II Inc., an affiliate of Frall Developers Inc. in Mount Airy, Maryland, sold the 8,640-SF post office at 815 Technology Drive in west Little Rock for $1.5 million.

Buyer: APIF-Arkansas LLC, an affiliate of American Infrastructure Funds in Foster City, California.

► Frank and Michelle Tetnowski purchased a 9,638-SF home in west Little Rock’s Chenal Downs neighborhood from Sharilyn Gasaway for more than $1.4 million.

► Magness Family LLLP, led by Jeff Magness, sold the 2,370-SF Exxon project at 416 E. Broadway in downtown North Little Rock for $1 million.

The buyer, US Assets Acquisition LLC of Dallas, sold the property adjoining Verizon Arena for $1.1 million to SCF RC Funding IV LLC, an affiliate of Essential Properties Ltd. of Princeton, New Jersey.

Retail Update

A couple of weeks back, we mentioned a groundbreaking announcement in the works for an undeveloped outparcel at west Little Rock’s Promenade at Chenal.

Here’s an update: The 1.56-acre site sold recently for $679,000.

HPA Properties LLC, led by Tan Hong, bought the parcel on St. Vincent Way behind HomeGoods.

Talk of a 7,500-SF retail building is emerging, but no names yet on who will be setting up shop.

We’re told to expect construction to get serious during the next 60 days or so.