Sunset Village is a 114 unit workforce housing community located in Pine Bluff, Arkansas. The property is well located with immediate access to both Interstate 520 and US Highway 65. Nearby major job and economic drivers include Jefferson Regional Hospital, The Pine Bluff Arsenal, and Tyson Foods. Additionally, the University of Arkansas at Pine Bluff and SE Arkansas College are in close proximity with combined enrollments of over 5500.
Pine Bluff a commuter city located 40 miles southeast of Little Rock and is home of The Pine Bluff Convention Center, one of the largest meeting facilities in the state. The property is located in an area characterize by middle income, single family residential neighborhoods, retail and small office developments. Medical, education, military and recreational enterprises are the predominate economic drivers for the region.
The property was purchased from an under-capitalized partnership that had previously acquired the asset through a note purchase. Immediately after closing all the deferred maintenance issues will be addressed as well as numerous capital upgrades required for stabilization. Upon completion of the enhancement program the asset will be refinanced and held in portfolio for cash flow and long term appreciation.