CushWake Brokers Sale of Two-Property MF Portfolio in Arkansas
Cushman & Wakefield has arranged the sale of Country Meadows and Cottages of Fort Smith, two apartment communities in Arkansas. The sales price was not disclosed.
Country Meadows, located in Searcy, was built in 1998 and includes 224 units. Cottages of Fort Smith, located in Fort Smith, was built in 2005 and consists of 72 units. Both properties include largely brick exteriors, duplex-style floor plans and 100% ground floor entry at Cottages of Fort Smith.
Martin Bynum and Craig Hey of Cushman & Wakefield represented the seller, Canyon View Capital, in the transaction. The buyer was Oakwood Capital.
“Both assets are situated within fantastic submarkets and continue to display strong growth trends,” said Bynum. “Strategically located along the Arkansas River, the Fort Smith and Little Rock MSAs benefit from robust transportation and logistics, healthcare, and higher education sectors.”