Haybar Properties has announced the sale of The Residences at Gracie Mansion in downtown Little Rock to Mark Brown and Jill Judy of Downtown Dwellings. Brown and Judy are known for acquiring, restoring, and managing historic multifamily properties throughout the downtown area.
The seller group included Haybar owner Bryan Hosto, architect Tim Heiple, investor Bo Briggs, and Hank Kelley of Kelley Commercial Partners, each holding a quarter interest. The 75-unit property sold through a national auction for $5.7 million, as reported by Arkansas Business.
The partnership originally acquired the property in 2011 when it was in significant disrepair and invested heavily in restoring the 3-acre site, including the historic Absalom Fowler House and the surrounding apartment buildings. Kelley Commercial Partners has served as property manager since the renovation was completed in 2013.
We are pleased that The Residences at Gracie Mansion will remain in the hands of engaged local owners who share a commitment to caring for residents and preserving downtown’s historic fabric.
Read the full article from Arkansas Business here: https://www.arkansasbusiness.com/article/gracie-mansion-apartments-sold-little-rock/