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Pair of WLR Apartments Sold for Combined $56.5MLock Icon

2 min read

The sale of four west Little Rock apartment developments starts this week’s procession of million-dollar real estate transactions, followed by a Searcy hotel and three Sherwood properties.

► Stonebridge Apartments OP LLC and Carrington Park-Brookfield LLC, affiliates of B&M Management Co. of Montgomery, Alabama, acquired their namesake projects for a combined $56.5 million from affiliates of Philadelphia’s Independence Realty Trust.

Stonebridge at the Ranch Apartments Owner LLC sold its 260-unit complex at 1 Stonebridge Circle for $30.2 million. IRT Carrington Apartments Owner LLC sold its 202-unit complex at 1801 Champlin Drive for $26.2 million. Affiliates of Monarch Investments of Franktown, Colorado, sold the 239-unit Pleasant Pointe Apartments at 1602 Green Mountain Drive and the 211-unit Valley Crossing Apartments at 1502 Green Mountain Drive.

Little Rock Ventures I LLC, an affiliate of DLP Capital Partners of St. Augustine, Florida; and Charal Little Rock I LLC of Sarasota, Florida, paid $10.5 million each for the latter two projects.

► Searcy Lodging LLC, led by Nimesh and Piyush Patel, bought the 100-unit Holiday Inn Express & Suites at 3660 Ferren Trail in Searcy for $5 million.

Seller? Serco Land II LLC, led by Greg Shinn.

► Mar Wall Sherwood LLC of Coral Gables, Florida, sold the Walgreens at 8521 Hwy. 107 for $3.2 million to L2 Baltimore LLC, an affiliate of L2 Partners in Miami.

► Red Dot Storage 155 LLC of Louisville, Colorado, purchased the 230-unit USA Storage project at 4101 E. Kiehl Ave. in Sherwood for $2.3 million from Tisdale Properties & Development LLC, led by Tracy Tisdale.

► HomeBank of Arkansas in Portland sold two commercial parcels totaling 6.9 acres near the northwest corner of Warden and Lantrip roads for $1.1 million to S. Williams & Associates Residential Construction Inc., led by Steven Williams.

Seven-Digit Construction

Verizon Third Floor Finish Out    $2,000,000
1400 Centerview Drive, Little Rock
Silver Development LLC, Little Rock
Denny’s    $1,200,000
900 Crain Drive, Conway
Excel General Contractors LLC, Francis, Utah

Orion Federal Credit Union Remodel    $1,100,000
306 S. Cross St., Little Rock
Grinder Taber & Grinder Inc., Memphis
New Home    $1,000,000
506 Eagle Pass Cove, Little Rock
Randy Wright Builders LLC, Little Rock

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