Arbor Pointe at Hillcrest
The 218-unit Arbor Pointe at Hillcrest apartment complex in the Hillcrest neighborhood of Little Rock has been sold for $18.3 million to Wicker Park Capital Management LLC of Savannah, Georgia.
The seller was Nighthawk Equity.
Cushman & Wakefield’s Martin Bynum and Craig Hey represented the seller, and the firm’s Equity, Debt & Structured Finance team arranged financing on behalf of the buyer.
Arbor Pointe at Hillcrest, built in 1973, has a business center, pool, clubhouse, walking and biking trails plus nearby access to four city parks, the Little Rock Zoo and downtown Little Rock.
Bynum described the deal as “a prime opportunity to buy an asset with major value-add upside in one of the most desirable neighborhoods in Little Rock” and said the property is well-located in the central part of the city, close to the metro’s 30,000+ jobs employment base.
The firm said future interior renovations could add value to the property for its new owner.
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