Partners Plan Additional Investments in Northwest Arkansas Real Estate and Beyond
NORTHWEST ARKANSAS—With the formation of OZRE Capital, Steve Brooks and Conner Eldridge, partners with Eldridge Brooks, and Tom Gordon and Greg Smart, founders of Slim Chickens, announced the purchase and acquisition by OZRE of the entity that owns the Village on the Creeks commercial development in Rogers, Arkansas. OZRE also announced its intention to make additional investments in Northwest Arkansas real estate as well as other opportunities in the future. OZRE stands for Ozark Real Estate and Equity.
OZRE Capital grew out of a mutual interest by the partners in investing in real estate and other equity opportunities in Northwest Arkansas.
OZRE purchased Village on the Creeks LLC from CapRocq Core Real Estate Fund II for $32,325,000. The purchase was backed with a loan and mortgage from Encore Bank in the amount of $24,243,750. The seller was represented by Colliers of Arkansas in the transaction.
The Village on the Creeks is a multi-purpose, 40 acre commercial real estate development located at the northwest corner of the interchange with I-49 and New Hope Road in Rogers. The property houses a diverse mix of tenants, including many national and international consumer packaged goods companies, vendors, small businesses, health care professionals, professional services firms, restaurants, retail establishments and others. The property is uniquely situated to include a 12 acre lake, borders Osage creek and is on a major thoroughfare of the Razorback Greenway.
Devereux Management, led by Dewitt Smith, has served as property manager of Village on the Creeks for 10 years and will continue to do so.
Brooks, Eldridge, Gordon, and Smart collectively stated: “We are thrilled to have completed the sizeable acquisition of a centerpiece of the Northwest Arkansas commercial landscape. Village on the Creeks is a unique property that proudly serves numerous businesses, is in an important and visible location in Northwest Arkansas, and, we believe, will be a good investment for years to come.” The partners added, “We see this purchase as the first of many commitments and investments OZRE and our partners will make in Northwest Arkansas real estate, commercial projects, and other ventures.”