On December 8, 2020, the McGraw Multifamily Team facilitated the successful closing of The Reserve at Tontitown, a new class-A apartment and duplex development in Northwest Arkansas. Houston, Texas-based Shakiba Capital has invested in the Tontitown development under the leadership of president Trevor Shakiba.
The Reserve at Tontitown is an affordable class A apartment and duplex development located in the NWA region and will have 132 apartments, 30 luxury duplexes, and an additional 36 climate controlled storage units. The development consists of three-story apartment buildings, luxury duplexes, a clubhouse, an outdoor cabana, pool and private tenant storage.
Ryan Gorman of the McGraw Multifamily Team represented both the buyer and seller, making this the third transaction facilitated by the team for Shakiba Capital. This was also the first transaction conducted with Norris Construction, owned and operated by Brooks Norris, whose company has overseen the development. McGraw Multifamily Team sold the property at certificate of occupancy, and Amy Bors with Winfield Property Management was hired as the third-party management company.
Shakiba Capital President, Trevor Shakiba said, “Shakiba Capital and our investors are absolutely thrilled with the acquisition of The Reserve at Tontitown! We love the Northwest Arkansas market and aim to make this a huge asset to the community and our residents through a first-class multi-family property. Ryan and McGraw were instrumental in the acquisition and first-class from start to finish!”