A Los Angeles-based real estate investment and advisory firm continues to make a push into the local market with its third multifamily acquisition in three months.
AndMark Investment Advisers LLC has taken ownership of the 120-unit Flagstone Creek Apartments in Bentonville, just off Arkansas Highway 12 across from the Walmart Distribution Center.
The purchase price was $7.53 million, which equates to $62,816 per unit.
Capital Assets Inc., a property management company in Tulsa, was the previous owner. The 12-building complex was built on approximately 10 acres in 2006. The property is 100-percent leased.
Earlier this summer, AndMark bought the 56-unit Casa Maria at Post Road development at 800 E. Post Road in Rogers, just off Old Wire Road, for $3.06 million.
In August, the company closed on... [ MORE ]