A New York-based student housing investment company has made its first acquisition in Arkansas, purchasing four townhome properties in Fayetteville with a combined 167 beds.
Hackberry Lane acquired Whitham Cottages, Hughes Townhomes, North Cedar Townhomes and Deane Sang Townhomes, according to co-founder and Chief Executive Officer Reid Marks. The transaction marks the company’s entry into the Arkansas market.
“Northwest Arkansas is one of the most exciting growth markets in the country, and we see tremendous long-term opportunity here,” Marks said in an emailed statement. “We look forward to partnering with the University of Arkansas and the Fayetteville community to provide high-quality housing that supports students and contributes to the region’s continued growth. This is just the beginning for Hackberry Lane in this market.”
Hackberry Lane focuses on townhome, single-family, garden-style and boutique apartment communities located in walkable, campus-adjacent corridors. The company joins a competitive student housing market in Fayetteville that serves more than 30,000 students enrolled at the University of Arkansas.
The four properties serve the off-campus housing market, which has seen continued demand as enrollment at the university has remained steady in recent years. University of Arkansas enrollment for the fall 2025 semester stood at 30,359 students, according to institutional data.
Hackberry Lane joins several other out-of-state investors who have acquired student housing properties in Fayetteville in recent years. The company’s acquisition adds to the inventory of privately-operated student housing options near the Fayetteville campus.
The transaction represents one of the larger single-portfolio acquisitions by a student housing operator in Fayetteville in recent memory. Company representatives did not disclose the purchase price.
The four properties are located in areas commonly served by Razorback Transit routes, providing students access to campus. Whitham Cottages and Hughes Townhomes sit along North College Avenue, while North Cedar Townhomes and Deane Sang Townhomes are located near East Street and East Township Street.
Hackberry Lane operates student housing communities in multiple states, primarily in the Southeast and Midwest. The company’s expansion into Northwest Arkansas follows similar moves into markets with large public universities experiencing population growth.
The University of Arkansas has faced ongoing discussions about housing availability, particularly for first-year students. The university operates several residence halls on campus and has partnered with private developers for additional student housing options.
Private student housing developments have proliferated in Fayetteville over the past decade, with numerous complexes built along North College Avenue and in the Dickson Street corridor. These properties compete for the same student population that also considers on-campus housing or shared houses in nearby neighborhoods.
Marketers for Hackberry Lane highlighted the company’s approach to property management, emphasizing maintenance and community programming designed for student residents.
The company’s statement suggested additional acquisitions may follow. “This is just the beginning for Hackberry Lane in this market,” Marks said.
Source: NWA Democrat Gazette
