CONWAY, AK – Cushman & Wakefield announced today that the commercial real estate services firm has arranged the sale and financing of The Edge at Donaghey, a 120-unit and 432-bed apartment community located at 530 S Donaghey Ave.
The Edge at Donaghey was sold by Azalea Holdings II, LLC and purchased by Sundance Real Estate. Travis Prince, Victoria Marks, and Shawn Lubic of Cushman & Wakefield’s Student Housing Capital Markets team along with Martin Bynum of the firm’s Sunbelt Multifamily Advisory Group represented both the seller and buyer in the sale transaction.
“The Edge at Donaghey is the primary student housing community catering to The University of Central Arkansas. With its premier location adjacent to campus, this asset offered its buyer year over year demand and continued strong performance,” said Victoria Marks, Senior Associate at Cushman & Wakefield.
Positioned adjacent to the University of Central Arkansas, The Edge at Donaghey is the only Class A apartment community in the market tailored to students at the college. The apartment community was built in 2013 and offers by-the-bed leasing including utilities and furniture. In the future, the buyer plans to add to the existing amenity package that currently includes a business center, fitness studio, study areas, resort-style pool, and a clubhouse.