You probably saw the news about a month ago involving a newly formed real estate investment group that paid more than $32 million for the Village on the Creeks commercial center in Rogers.
But did you know all the details of how the center was paid for?
OZRE VOC LP of Wilmington, Delaware, raised $11.5 million to help pay for the development, according to a filing with the Securities & Exchange Commission. The filing also said there were 35 investors who put in at least $25,000, according to the filing.
As you know OZRE Capital — the initials stand for Ozark Real Estate and Equity — is a partnership of Steve Brooks, Conner Eldridge, Tom Gordon and Greg Smart. The four men are also directors in OZRE VOC LP.
Brooks and Eldridge are partners at the Eldridge Brooks Partners law firm in Rogers. Gordon and Smart are co-founders of the Slim Chickens restaurant chain.
A loan of slightly more than $24 million from Encore Bank in Little Rock also helped with the purchase.
The Village is a 40-acre development just off Interstate 49 that features several commercial, business and retail tenants. The seller was CapRocq Core Real Estate Fund II, which was co-founded by Franklin McLarty and Kevin Huchingson.