Fort Smith Apartment Duo Combines for $8.6M Deal

Fort Smith Apartment Duo Combines for $8.6M Deal
Parcel lines approximate and shown for illustration only. (Sebastian County Assessor)

Think Multifamily is making a big splash in the Fort Smith commercial real estate market.

The real estate investment group, founded by the husband-and-wife team of Mark and Tamiel Kenney, paid $8.6 million for a pair of apartment complexes in Fort Smith. Rockwood Terrace Apartments is a 163-unit complex at 4801 Rogers Ave., and Lakeside Townhomes is a 106-unit complex at 1331 S. 46th St.

Both of the complexes were long-time properties of Charles Palmer of Fort Smith, an active developer and investor in the state.

Palmer sold the properties through his Boardwalk Properties LLC and Pal Joey Properties LLC, respectively.

The buyer and the seller were each represented by Philip Schmidt and Jordan Jeter, both principals at Kelley Commercial Partners’ office in Springdale.