An Illinois investor recently bought a big piece of Fayetteville’s Whitham Cottages for $3.8 million from developer Justin Helms of Austin, Texas.
The 10-building, four-bedroom apartment project at the southeast corner of Whitham Avenue and Cleveland Street is three blocks north of the University of Arkansas campus, an epicenter for rental property.
Helms bought the location for $750,000 from Specialized Real Estate Group in 2017 and developed the cottages. SREG then managed the cottages as a third party.
Sarah King, SREG’s spokeswoman, said new owner Akshay Kumar will not use SREG as the property manager. Kumar didn’t buy the rights to the Whitham Cottages name, and it is unknown if the project will be renamed.
Confusingly, there are three more similarly designed apartment buildings nearby that are owned by Helms and still managed by SREG that continue to operate under the Whitham Cottages name.