Riverdale Apartment Complex Sells for $54.4 Million


Riverdale Apartment Complex Sells for $54.4 Million
Riverhouse Apartments at 1200 Brookwood Drive in Little Rock. (Jason Burt)

Have you heard about a big apartment transaction in the Riverdale area of Little Rock?

 Passco Riverhouse DST, an affiliate of Passco Cos. of Irvine, California, bought the 262-unit Riverhouse Apartments at 1200 Brookwood Drive for more than $54.4 million.

Seller: Riverhouse/ML-BWP LLC and Riverhouse/1031 LLC, affiliates of Carter-Haston Holdings of Nashville, Tennessee.

You might recall this is Passco’s second dip in the Little Rock apartment market.

Last year, another Passco affiliate purchased the 294-unit Fitzroy Chenal at 15401 Chenal Parkway in west Little Rock for $65 million.

► LL Ark Properties LLC, an affiliate of Luther Automotive Group of St. Louis Park, Minnesota, acquired the 70,000-SF former home of Playtime Pizza at 600 Col. Glenn Plaza Loop in west Little Rock for $5.7 million.

Seller? Playtime Partnership LLC, led by the Steven J. Landers Family LLLP and the Steven C. & Kimberly K. Hockersmith Family Trust.

► Cantrell Ridge Holdings LLC shifted ownership of the 8,120-SF Chase Bank/Mattress Firm project at 11400 Cantrell Road in west Little Rock to Tempus Cantrell Ridge LLC in a transaction valued at more than $4.3 million.

Both investment groups are led by Isaac Smith, president of the Little Rock office of Colliers International.

► Sai Satya LLC, led by Dinesh Patel, bought the 128-room Motel 6 at 7501 Interstate 30 for $2 million.

Seller: Sargam Hospitality Inc., led by Amrut Patel.

► MGD Inc., led by Arvind Shah, sold the 57-room Jacksonville Inn at 200 T.P. White Drive in Jacksonville for nearly $1.5 million.

Buyer: Siya Hospitality LLC, led by Jaiminbhai and Zalakben Patel.

► The Paladino Family Trust, led by Timothy and Alicen Paladino, purchased a 5,786-SF home in west Little Rock’s Orle neighborhood for more than $1.3 million.

Seller? The Roberson Revocable Trust, led by Ronald and Patricia Roberson.