Maxus Realty Trust Inc. (OTCPK:MRTI) entered into a purchase and sale agreement to acquire Foothills Apartments in Little Rock on September 2, 2013. The amount of liquidity needed in order to fund the Foothill Apartments is approximately $13.4 million. In order to meet this obligation, Maxus Realty will use short-term borrowings, the proceeds from the sale of King's Court and The Terrace Apartments, proceeds from the proposed private placement of debt and available cash.

Maxus Realty raised $17 million from Missouri Bank & Trust for the transaction. The Board of Maxus Realty Trust approved the purchase of Foothills Apartments on the condition that U.S Department of Housing and Urban Development will approve the loan assumption.