Walton brothers buy Bentonville apartments for $34 million

BENTONVILLE, Ark. (KNWA/KFTA) — A 190-unit apartment complex spanning 15.57 acres in Bentonville was recently sold to a Walton-founded business for $34.35 million.

Touchstone Operator LLC from Dallas bought Touchstone Village located at 501 SW 20th St. from Touchstone Village W80 LLC based in Brooklyn, N.Y., according to public documents .

Touchstone Village, originally built in 2002, features a clubhouse equipped with a fitness center and pool. The community has been renovated and offers single-story units ranging from one bedroom, one bathroom (586 square feet), to two bedrooms, two bathrooms (816 square feet).

In February 2018, Touchstone Village W80 LLC purchased the property for $8.8 million from Touchstone Limited Partnership of Bentonville.

Jared Faciszewski, vice president of Touchstone Operator and CEO of Blue Crane, managed the acquisition.

Blue Crane is the real estate acquisition and development division of Runway Group. The Bentonville-based company was co-founded by Steuart and Tom Walton, who are grandsons of Walmart founder Sam Walton and sons of Jim Walton, chairman of Arvest Bank Group.

Runway Group maintains a diverse portfolio encompassing real estate, venture capital, solar power, aviation and hospitality.

The acquisition of Touchstone Village marks the second major transaction Runway Group has completed this year.

On May 9, Blue Crane completed the purchase of about 2,700 acres of undeveloped land in Bella Vista from Cooper Communities Inc. of Rogers.

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