Real Deals: Fayetteville townhomes near UA sell for $8.2 million
by March 11, 2025 12:52 pm 2,006 views
A 16-unit townhome development near the University of Arkansas in Fayetteville recently sold for $8.2 million. The purchase price equals $512,500 per unit.
3CM Capital Fund I LLC, a Delaware-registered entity managed by Sheridan-based 3CM Capital Group LLC, bought the townhomes along North Whitham Avenue, between West Douglas and West Taylor streets. Michael Wade Crosswhite is member of 3CM Capital Group and president of Sheridan-based RoofConnect, a nationwide commercial roofing company. 3CM Capital and RoofConnect share addresses.
The seller was Fay Apartment Partners LLC, managed by TL Asset Management LLC. T.J. Lefler is the manager. The seller was represented by Sam Hewitt, Zac Thomas and Sean Scott, brokers for GREA, a multifamily brokerage office in Fayetteville. Hewitt said the per-unit purchase price was a statewide record. The Bank of Fayetteville, a division of Stuttgart-based The Farmers and Merchants Bank, provided a three-year loan for $5 million.
Built in 2023, the development includes seven buildings. Fay Apartment Partners paid $3 million for the property in separate transactions between September 2020 and May 2021.
Bud Walton Abode
A two-story, 2,930-square-foot estate on East Central Avenue in downtown Bentonville has a new owner after an $8 million transaction. The purchase price equals $2,730 per square foot.
Bentonville nonprofit Bentonville Revitalization Inc., a Delaware-registered entity that shares an address with Walton Enterprises LLC in Bentonville and whose president is David Short, purchased adjacent residential properties comprising 7.28 acres east of the downtown square. Short retired as president and CEO of Arvest Bank in Benton County in 2012.
The seller was SE Street LLC, a Delaware-registered entity whose general counsel is Madeline Taylor. She’s also vice president of operations for Bentonville-based Blue Crane, the real estate acquisition and development arm of Bentonville holding company Runway Group. Steuart Walton and Tom Walton, CEO of Runway Group, lead Blue Crane. Waco Title Co. in Springdale was the title agent.
Built in 1938, the two-story home is in a gated property. It was the home of businessman James L. “Bud” Walton. Walton and his older brother, Sam Walton, opened the first Walmart store in Rogers in 1962. Bud Walton was later a senior vice president and director for the company. He died in 1995 due to complications from surgery for a stomach aneurysm. He was 73.
The recent transaction included an adjacent single-story, 1,223-square-foot home. The properties are southeast of residential land that Cindy Springs LLC, an affiliate of Walton Enterprises, bought in late 2024.
Springdale Land
More than 36 acres of pastureland between Arkansas Highway 112 and Interstate 49 in Springdale recently changed hands for $4.4 million. The purchase price equals $120,553 per acre.
Tontitown-based Sisemore Land Holdings LLC, managed by Tamara Martin, bought 5984 Sisemore Lane. The 36.5-acre property is southwest of 157-unit multifamily development Hillcrest Village and southwest of West Don Tyson Parkway and South 56th Street.
The seller was Mountain View-based Spring Creek Ventures LLC, managed by Christy Newton and Jacob Newton. City Title & Closing LLC in Fayetteville was the title agent. Spring Creek Ventures purchased the property for $4.4 million in December 2024. The seller was Tontitown-based PHP Holdings LLC, also managed by Martin.
Fayetteville Condos
A 19-unit multifamily development at 1137 N. Leverett Ave. in Fayetteville recently sold for $3.39 million. The purchase price equals $178,684 per unit.
Fayetteville-based Postcard View LLC, managed by Christopher M. Hamaker and Robert R. Russell, bought the 18,200-square-foot development on 1.22 acres at West North Street and North Leverett Avenue. Molly Court LLC, managed by Jeff Koenig of Fayetteville, was the seller.
Fayetteville-chartered Arvest Bank provided a two-year loan for $3.49 million. Realty Title & Closing Services LLC in Springdale was the title agent.
Built in 2005, the development comprises three multi-story buildings, two of which are connected. Molly Court paid $2.5 million for the property in October 2017. The seller was North Street Condos LLC.
Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.