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Woodland Heights 2?

Have you heard that Pat Riley Sr. is in the process of striking another deal with Arkansas Teachers Retirement System?

This one involves selling the pension fund undeveloped land adjoining the Woodland Heights high-rise retirement center in west Little Rock.

You might recall Riley gave ATRS the 82-unit project to help settle a would-be $11.5 million foreclosure suit. (Or you could read more about it on Page 1 of this issue.)

Pension, fund officials are considering building a second phase of the Woodland Heights development, which Riley never managed to pull together.

The idea is that more units will widen the potential profit margin of the project, which has had a spotty profit history.

Of course, the key to fiscal success is selling those units, whether they be existing or new ones.
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Title Annotation:possible deal between Pat Riley Sr., Arkansas Teachers Retirement System
Comment:Woodland Heights 2?(possible deal between Pat Riley Sr., Arkansas Teachers Retirement System)
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 22, 2001
Words:133
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