Kansas City-based Block Funds, a real estate equity firm, and Block Multifamily Group, a national multifamily management services company, acquired two multifamily properties in Northwest Arkansas.
BMG will perform all property management services for Stoneleigh Centerton, located in Centerton, Arkansas, and Stadium Place Apartments, in Fayetteville, Arkansas. BMG Now owns and manages 1,016 units in the Northwest Arkansas market.
Stoneleigh Centerton, built in 2007, consists of one- and two-bedroom units ranging in size from 597 square feet to 1,073 square feet.
Stadium Place Apartments, built in 2006, offers one-bedroom units at 750 square feet and two-bedroom units at 960 square feet. The property is on the University of Arkansas bus line, and is adjacent to Baum Stadium, home of the Razorbacks baseball team.