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Grocery Purchase

A grocery store project in North Little Rock tipped the scales at $2.4 million.

Nikesefat Family Trust, led by Salim and Fouzieh Niksefat, acquired the Kroger at 900 W. Pershing Blvd. The sellers are CIP Acquisition Inc. and QRS Kroger 11-2 (AR) Inc., both of New York.

The deal is backed with a two-year loan of $1.89 million from First Arkansas Bank & Trust of Jacksonville.

The location was bought for $850,000 in March 2003 from J.D. Ashley Sr. Family Ltd. and the Bob Creston Fendley Trust.

Ashley and Fendley assembled the nearly 2.4-acre property as part of transactions totaling more than $169,000.

The sellers were Safeway Stores Inc. of Oakland, Calif., $150,000 in August 1984; the estate of Lessie Parsons, $9,500 in June 1961; F.A. Tyler, $9,500 in January 1962; and the estate of T.J. Arnold, an undisclosed sum in June 1968.

Multifamily Buy

Multifamily property in North Little Rock changed hands in a $1.1 million transaction.

Rainwater Holt & Sexton Properties LLC, led by Michael Rainwater, Stephen Holt and Robert Sexton, purchased the 10840-41, 10901 and 10910 Frenchmen Loop property from One Bank & Trust of Little Rock.

The deal is financed with a 10-year loan of $1 million and a five-year loan of $30,000 from the bank. Toby and Martha Parker forfeited the 1.9-acre development to One Bank in lieu of foreclosure in June 2009.

The project previously was tied to four November 2006 mortgages totaling $1.1 million held by the bank.

The property was assembled in four March 2005 deals totaling $240,000. The seller was Country Club Development LLC, led by Jack Wilson.

Office Acquisition

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