Word has begun making the rounds of a transaction in the works for a Little Rock concern: Bailey Properties LLC.
We’re told to expect news the company will become part of an out-of-state venture during the next 60 days.
The name of the merger partner? Summit Housing Partners of Montgomery, Ala.
The venture owns 14,600 apartment units spread across 93 apartment communities in 10 states. The footprint of the Summit properties matches nicely with Bailey Properties, led by John Bailey.
Bailey Properties is best known these days for owning 20 apartment projects divvied among Arkansas, nine; Texas, seven; and Shreveport, four.
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