Arvest Bank Sells 36 Lots For $170K

Arvest Bank recently sold 36 lots in the Kanis Village subdivision of Little Rock for $170,000.

The buyers were Kanis Village LLC (14); Marshall Equity Investments LLC (11); and JV Choice LLC (11).

Arvest also sold 55 acres immediately south of the lots to ALC Estate LLC.

The lots sold range from 7,800 SF to more than 16,000 SF.

They are spread across Phase One of the subdivision on Kanis Pines Drive, Village Lake Drive, Kanis Oaks Drive and Kanis Village Drive. They comprise 75% of the lots yet to be developed in the neighborhood, and are spread between the 32 homes that have been built or are in the process of being built.

Stuart Mackey, executive vice president of Hathaway Group, represented the buyers.

“This neighborhood has easy access to downtown and west Little Rock, while providing a serene neighborhood for life outside of work,” Mackey said. “Being just west of Midtown, these residential lots provide close proximity to numerous dining choices. The new homes built on these lots, along with the new multifamily development in the area, new assisted-living facility next door, and the neighboring long-term care and nursing home facility that recently opened will provide a well-rounded community for people of all ages to enjoy.”

Thomas Schmidt of Flake & Kelley represented the seller.