WASHINGTON COUNTY, ARKANSAS, Ark. — Four apartment complexes in Pulaski, Sebastian and Washington counties were recently hit with a $20.6 million foreclosure judgment.
The four properties are:
- PF Terrace Green LLC, known as the Terrace Green Apartments, at 8223 Scott Hamilton Drive, Little Rock. It was built in 1971 and has 100 units and two stories.
- PF Jefferson Manor LLC, known as Jefferson Manor Apartments, at 2600 John Ashley Drive, North Little Rock. It was built in 1975 and features 140 units.
- PF Allied Gardens LLC, known as the Allied Gardens Estates, at 5221 Johnson St., Fort Smith. It has 160 units.
- PF Northwest Acres LLC, known as Northwest Acres Apartments, at 710 Union Drive, Springdale. It was built in 2009 and has 89 units and two stories.
The LLCs borrowed $18.5 million from UBS AG of New York in October 2016, according to the lawsuit filed against them in 2022. Chaim Puretz of New York, the sole member and manager for the LLC’s related companies, signed for the loans and guaranteed them, according to the loan document filed in the case.
The holder of the note became Wells Fargo Bank, National Association, as Trustee For Morgan Stanley Capital I Trust 2016-UBS 12, Commercial Mortgage Pass-Through Certificates, Series 2016-UBS 12, which filed the lawsuit.
To read more about this story, our content partner, Arkansas Business, has the full story here.
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