A condominium complex in Rogers sold for $14.85 million to an Atlanta subsidiary of Federal Life Insurance Co. of Chicago.
The buying subsidiary, FLI WW SFR 3 LLC, is led by John Horbal and Anders Raaum, both executives with Federal Life. The group purchased 15 condos consisting of 68 units in the Shadowbrooke at the Peaks subdivision on Kilimanjaro Way and Everest Avenue west of Interstate 49.
The seller was Asian Pacific Land of New York City through its subsidiary, Carrhae 2 LLC, led by Geoffrey Kristof. Kristof is the head of the single-family rental division at Asian Pacific Land.
Asian Pacific Land acquired the properties for $12.25 million in 2021 from local developer Jon Brittenum Jr.
New Hope Storage
A North Carolina investor paid $6.3 million for a storage complex in Rogers.
Alex G. Perkins of Cary, through his AATM Storage of Arkansas II LLC, bought the 5.6-acre complex with more than 68,000 SF of storage space on New Hope Road. The property also includes two single-family homes and totals 11 acres.
Signature Bank of Arkansas in Fayetteville provided a loan of slightly more than $5 million.
The seller was Bruce Clinton of Little Rock, through his MyStorage Rogers LLC. Clinton, who co-founded MyStorage.com, acquired the property for $5.4 million in 2021.
Making a Splash
A Texas investment group paid $5.8 million for the Splash car wash facility in Bentonville.
Glen Una Management of Austin, through its Carwash Bentonville AR LLC, bought the 5,825-SF property on SW Bright Road. Glen Una is an investment arm of the Levy family, led by Kenneth Levy, the founder and former CEO of KLA, a semiconductor manufacturer.
The Glen Una website said it owns 60 commercial properties in 17 states.
The seller was Slash Bright LLC, led by Drew Holbert of Little Rock. Holbert is a principal and executive vice president at Colliers and acquired the property for $800,000 in 2021.
Splash was founded by CEO Paul Stagg and has 26 locations in Arkansas.
Maverik Purchase
A Fayetteville investor paid slightly more than $4.2 million for a convenience store in Springdale.
Dakota Riggins of Fayetteville, through his HSS Enterprises LLC, bought the Maverick location on West Sunset Avenue. The 4,950-SF full-service gas and convenience store sits on 1.26 acres.
The store was a Kum & Go before it was acquired by Maverik of Salt Lake City, a subsidiary of FJ Management Inc. Maverik has rebranded all its acquired stores under its banner.
The seller was Sunset & Go LLC, led by Michael Brown of Aspen, Colorado. Brown is the co-founder and principal at HayMax Capital, which acquired the property for $4.35 million in 2021.
Olive Garden
A state representative and her airport CEO husband bought an Olive Garden restaurant in Rogers.
The buyers were Rebecca Burkes, a Republican representing the District 11 in Springdale, and her husband, Aaron, the CEO of Northwest Arkansas National Airport. The Burkeses, through their Railyard Loop LLC, paid $3.65 million for the 7,329-SF restaurant, which sits on slightly more than 1.8 acres on South 46th Street.
Arvest Bank in Fayetteville provided a loan of $2.5 million.
The seller was Akshar 7 LLC, led by Shailesh Vora. Vora acquired the property for $3.65 million in 2015.
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