The Arkansas Repertory Theatre in Little Rock has sold a downtown apartment building it used to house interns and visiting talent.
Mark Brown and Jill Judy, who own the Downtown Dwellings apartment rental agency, purchased the property at 315 E. Sixth St. for $768,000 in June, according to a news release from the RPM Group, the brokerage firm representing the buyers. The sale closed June 20, the firm said.
The building is a two-story, 10,000-square-foot property that contains 16 one-bedroom units. It was built in 1954.
Brown and Judy plan to keep the property as a long-term investment, the release said.
Rick Freeling, president of RPM Group Commercial division, said the property was in good condition and required limited rehabilitation. The new owners will upgrade the property as needed, Freeling said. The Rep completely remodeled the building several years ago.
The Rep announced earlier this year that it was suspending operations because of financial difficulties. Theater leaders said last month that the sale of the apartments would cut the Rep's $1.5 million property debt in half.
Metro on 07/06/2018