“A120-unit multifamily community under construction in Springdale sold recently for $18.3 million. The purchase price equals $152,500 per unit.
Houston-based private equity real estate firm Shakiba Capital bought the 10-acre Silos on the Square development located in an opportunity zone at 1506 Powell Street. L&J Brothers Realty LLC, led by Jian Fei Lin, was the seller.
First National Bank of Fort Smith backed the deal with a three-year, $12.9 million loan. Waco Title Co. of Springdale was the title agent. Commercial real estate brokerage Global Real Estate Advisors (GREA), led in Arkansas by Zac Thomas and Sam Hewitt, represented the buyer. L&J Brothers Realty paid $660,000 for the land in March 2020.”
Tulsa World—January 27, 2020
Tulsa World, Tulsa’s leading daily newspaper, provides coverage on Shakiba Capital’s acquisition of Brookwood Apartments, a multi-family property in Owasso, Oklahoma
