Hillcrest Village Sells For $33.3M (NWA Real Deals)

Hillcrest Village in Springdale (Hillcrest Village/Google Maps)

A townhome complex in west Springdale sold for $33.28 million to a Kansas City real estate investor.

Block Real Estate Services, led by Kenneth Block, bought the 157-unit Hillcrest Village, located west of Interstate 49 on Cornell Drive. Block bought the property through two subsidiaries.

Central Bank of the Midwest in Shawnee, Kansas, provided a $22.3 million loan.

The seller was Developing Equity LLC, led by Allissa Sims and Ben Harvey. They acquired the property as land for $2.6 million in 2021.

Springdale Warehouses

A 58,000-SF warehouse complex in Springdale sold for $5.3 million.

The complex on Worth Lane, known as Checkerboard Square, was bought by a three-subsidiary partnership. Worth Lane Partners LLC acquired 64.3% while Mside Fay LLC and Ribble Investment Co. acquired just under 18% each.

Worth Lane and Mside Fay are controlled by area real estate developer T.J. Lefler. Ribble is led by Alan Ribble.

The seller was CB Square LLC, led by Turner Hurley of Springdale. Hurley acquired the property for $2.9 million in 2020.

The buyers took a $300,000 loan from CB Square and a $4.55 million loan from First State Bank.

Mobile Home Park

A mobile home park in Fayetteville sold to a Texas investment group for $4.95 million.

Shenandoah MHC Fayetteville LLC, a subsidiary of True Star Capital of Midland, bought the 10-acre Shenandoah Mobile Home Park on East 15th Street. True Star is led by CEO Brant Greathouse and specializes in investments in manufactured homes.

Vanderbilt Mortgage & Finance of Maryville, Tennessee, provided a $3.4 million loan.

The seller was Roy Courdin Jr. of Fayetteville.

Springdale Furniture

A Springdale furniture store damaged by a tornado in 2022 sold for $1.895 million.

Oelke Construction of Gentry, through its 4900 Thompson LLC, bought Brashears Furniture on South Thompson Street. The subsidiary is led by Joshua Kilgore and Tim Oelke, the owner of Oelke Construction.

The 30,015-SF building was heavily damaged during an EF-3 tornado on March 30, 2022.

First National Bank of Fort Smith provided a loan of $3.15 million. The loan is for the purchase amount, and the remainder is for construction costs.

The seller was 4900 Investments LLC, led by Douglas and Susan Brashears of Berryville. They acquired the property for $1.5 million in 2006.

Fayetteville Multifamily

A complex of four multifamily properties in Fayetteville sold for $1.325 million.

The buyer was KBRB LLC, led by Russell Brockman of Fayetteville. The four townhomes, located adjacent to each other on Bryan and Curtis streets and Main Drive, total nearly 6,400 SF.

Armstrong Bank provided a $1.1 million loan.

The seller was the Dorcas M Curtis Revocable Living Trust, led by Rex Curtis of Rogers.

Springdale Restaurant

A fast-food restaurant on Elm Springs Road in Springdale sold for $1.2 million.

GM KB Springdale LLC, a subsidiary of Green Meadow Capital of Dallas, bought the 1,804-SF restaurant building on 0.8 acre, formerly home to a King Burrito. Green Meadow is led by Brian Waxler.

Inwood National Bank in Dallas provided a $750,000 loan.

The seller was Hyde Park Properties I LLC, led by Jack Goehring of Natick, Massachusetts. Hyde Park acquired the property for $585,650 in 2016.  n

Springdale Brewery

A Tulsa investor bought a brewery and taproom in Springdale for $1 million.

Masood Kasim bought the 2,816-SF property on East Johnson Avenue. The building is currently home to Social Project Brewing Co. and was the former home of Bike Rack Brewing.

Centennial Bank in Conway provided a $325,000 loan.

The seller was C&J Corner LLC, led by Omar Kasim of Springdale. C&J Corner acquired the property for $620,000 in 2022.