U.S. real estate investment, management, and development firm Timberland Partners has acquired Sullivan Square Apartments in Bentonville, Arkansas, for $63.6 million or $118,878 per unit.
The company bought the 535-unit property at 1102 S.W. Sullivan Way from Sullivan Square Bentonville LLC, an entity controlled by Orchard Properties.
The 24.5-acre 35-building multifamily asset comprises of townhomes with and without garages and one-, two- and three-bedroom units with an average unit size of 917 square feet.
The development, which was 99 percent occupied at the time of the deal, includes a clubhouse, fitness center, playground and resort-style swimming pool.