Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Country Meadows and Cottages of Fort Smith, two apartment communities located in Arkansas.
Martin Bynum and Craig Hey of Cushman & Wakefield represented the seller, Canyon View Capital, in the transaction. Oakwood Capital acquired the properties.
“Both assets are situated within fantastic submarkets and continue to display strong growth trends,” Bynum said. “Strategically located along the Arkansas River, the Fort Smith and Little Rock MSAs benefit from robust transportation and logistics, healthcare, and higher education sectors.”
Country Meadows, located in Searcy, Arkansas, was built in 1998 and includes 224 units. Cottages of Fort Smith, located in Fort Smith, Arkansas, was built in 2005 and consists of 72 units. Both properties include largely brick exteriors, duplex-style floor plans and 100 percent ground floor entry at Cottages of Fort Smith.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.