Luxury AR Community Lands $20M Refinancing
Richardson Properties' The Pointe at Bentonville includes 170 units, a movie theater room, tanning rooms and a dog park.
Richardson Properties has taken a $19.8 million Fannie Mae mortgage to refinance the first phase of The Pointe at Bentonville, a newly constructed, 170-unit luxury garden-style community in northern Arkansas. The 10-year note amortizes over a 30-year schedule. A construction loan funded by Stearns Bank previously encumbered the property.
Located at 3800 S.W. RichSmith Road in Bentonville, Ark., the community is situated on 21.6 acres, two miles west of Interstate 49 and within three miles of Walmart’s head office. Positioned near the Walton Boulevard retail corridor, a wide variety of shopping, dining and hotel options are in the immediate area.
A luxurious amenity mix
The community contains a mix of one-, two- and three-bedroom units ranging in size from 900 to 1,500 square feet. Monthly rental rates start at $1,000, according to the property’s website. The asset features a wide range of amenities, including:
- swimming pool
- 24-hour fitness center
- movie theater room
- sports lounge
- tanning rooms
- conference room
- concierge service
- dog park
- covered parking
The property’s seven three-story buildings opened in May of 2017, and the owner is planning to develop an additional 12-building second phase in the future, at the southern end of the parcel.
Image via Google Earth