Remember last month when Moses Tucker Partners of Little Rock announced it had purchased a 23-acre site just south of Wedington Drive in Fayetteville in order to develop a 600-unit multifamily community?
At the time, the price of the land wasn’t released, but it turns out the tract sold for $7.245 million.
The property was bought by EPH 47 LLC, led by Nick Forss. Forss is the principal at Equity Partnership Holdings of Denver, a privately held real estate investment company active in the Arkansas market.
How active? EPH has closed on 30 multifamily properties since 2021, and 14 of those are in Arkansas.
Moses Tucker Partners said the development is a joint venture between itself, EPH and C&A Companies, also of Denver. Construction is expected to begin sometime in mid-2024.
The property is just east of Interstate 49 and located behind the Cross Church complex.
The seller was two subsidiaries led by Mary Sue Shaw: Pam Angus LP and Marinoni Inc.