BROOKLYN, N.Y.--(BUSINESS WIRE)--Beitel Group and The Scharf Group, both NY-based single-family offices, have acquired Forest Place Apartments, in Little Rock, AR.
The Property
Forest Place Apartments is a 256-unit apartment complex located in the exclusive Heights neighborhood. The Heights is home to a signature shopping district, trendy restaurants, and the exclusive Country Club of Little Rock.
Forest Place is two blocks away from Cantrell Road and University Avenue, one of the most travelled intersections in Little Rock. Additionally, Cantrell Road connects Downtown to West Little Rock, providing easy access to a variety of major employers. The property is close to 35,000 medical jobs in the I630 Medical Corridor and thousands of government and white collar jobs located Downtown.
The property’s large floorplans, combined with desirable amenities, make it a draw for affluent renters. The property is popular with residents seeking this upscale neighborhood.
Beitel Group
A NY-based family office focused on the acquisition and development of multifamily and commercial properties nationwide while pursuing a value-add strategy. Beitel currently owns and operates a multifamily portfolio spanning nine states, consisting of 5,000+ units.
The Scharf Group
A NY-based fourth generation family office; owner, developer, and operator of a large portfolio of commercial, multifamily, healthcare & senior housing properties nationwide.
Debt for this transaction was arranged by Jeff Seidenfeld, Managing Director at Eastern Union Funding.
