A multifamily apartment complex in Bentonville has been sold for $8.9 million.
Caisson Capital Partners has closed on The Ridges at Bentonville, which was formerly known as Skyridge Estates, acquiring the 96-unit apartment complex. This marks the launch of Caisson Capital, which was founded by Robert “Bo” Diamond and Brian Shaw, the executive chairman of Cushman & Wakefield/Sage Partners.
Located on Highway 12 in Bentonville, the property is expected to undergo a rebrand and renovation. LiveSage, a joint venture of LundCo and Sage Partners, will oversee the on-site management of the property.
Arbor Commercial Real Estate provided long-term, fixed-rate Fannie Mae debt financing for the project.
“We are thrilled that our first deal is in Northwest Arkansas, right here in our own backyard,” co-founder and managing partner Diamond said in a statement. “The feedback we received from investors was overwhelming. Our firm’s key goal is to open direct commercial real estate investments to individual investors, and we were able to accomplish that right out of the gate with a broad syndication to over 30 investors from eleven states and the U.K.”
Diamond and Shaw founded Caisson Capital in 2020, aiming to increase investor access to real estate investments. The company plans to focus on the Northwest Arkansas markets, as well as other markets in the Mid-South and American heartland.
“Caisson has a unique ability to leverage our proprietary knowledge and aggressively deploy newly available technologies,” Shaw said. “We believe commercial real estate is an essential component of a well-diversified portfolio, and we feel there is a broader audience with the ability to take advantage of these select opportunities.”