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184-Unit Arkansas Apartment Complex Sells

LITTLE ROCK, AR-A New York City-based private real estate investor sells the Arbors of Pleasant Valley here for $13.1 million two years after acquiring it for $11 million.

By Brian K. Miller | Updated on October 18, 2005

(To read more on the multifamily market, click here.)

LITTLE ROCK, AR-The Arbors of Pleasant Valley, a 184-unit, class-A multi-family property here, has changed hands for $13.1 million. The New York City-based private real estate investment firm Somerset Partners LLC sold the 96%-leased property to an affiliate of Entreprenurial Properties Corp. of Newport Beach, CA.

Built in 1998, the Arbors of Pleasant Valley is located at 2020 Hinson Loop Rd. The gated rental community features 184 spacious one-, two- and three-bedroom apartment homes, an outdoor pool, clubhouse, fitness center and business center. Somerset Partners acquired the asset in 2003 for $11 million.

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