Have you heard of Ritter & Spool?
Neither had Whispers before the Fayetteville limited liability company filed a Form D with the U.S. Securities & Exchange Commission showing that it had raised almost $3 million from 12 investors in a private placement last month.
So we called Ward Davis, who incorporated Ritter & Spool in August 2023, and he explained that the LLC was created to develop a 45-unit apartment complex in Rogers on the south side of Chestnut Street on either side of North First Street — 100 E. Chestnut and 104 W. Chestnut, to be precise.
It’s the latest project from High Street Real Estate & Development of Fayetteville, which was incorporated in 2016. Davis’ partner in High Street is Jason Keathley, and their previous projects include Johnson Square in Johnson, The 1907 in Rogers, Drake Farms in Fayetteville and The Village at Hendrix in Conway.
According to its SEC filing, Ritter & Spool’s first private placement raised $2.96 million. Davis wasn’t willing to say the price tag on the project, which is expected to be completed in October 2025. The building permit pulled by Buffalo Builders LLC of Little Rock carried a valuation of $2.82 million. The architect is Robert Sharp of Fayetteville.
Another company called HCC-AR Ritter & Spool Investment LLC was incorporated in August by Little Rock businessman Merritt Dake. Davis said that company is an investor in the Ritter & Spool project.
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