LR Retail Centers Draw $6.1 Million Transaction (Real Deals)

by George Waldon  on Monday, Aug. 25, 2014 12:00 am  

Geyer South and the Geyer Springs Shopping Center (shaded in red) were purchased by a Brooklyn, New York, limited liability company.

Centennial entered the picture in October 2013 when its parent company acquired Liberty Bank of Arkansas in Jonesboro.

The 1.6-acre development previously was linked with a November 2011 mortgage of $1.86 million and a March 2012 mortgage of $21,800 held by Liberty Bank.

Burrow bought the former Harvest Foods property for $500,000 in May 2002 from two New York firms: QRS 10-9 (AR) Inc. and QRS 11-2 (AR) Inc.

Hickory Creek Manor

A 12,350-SF mansion in west Little Rock’s Hickory Creek neighborhood weighed in at $1.6 million.

Syed and Ayesha Samad acquired the residence from One Bank & Trust of Little Rock.

The transaction is financed with a seven-year loan of $1.44 million from IberiaBank.

One Bank recovered the property in January from Tommye Stuart, widow of the bank’s former owner, Layton “Scooter” Stuart. The house was tied to more than $1.5 million of debt held by the bank.

The Stuarts purchased the residence for $1.67 million in October 1994 from Don and Carolyn Kirkpatrick.

Sologne Residence

A 5,657-SF home in the Sologne Circle neighborhood of west Little Rock’s Chenal Valley development sold for $952,500.

Aravind Nemarkommula and Neelima Rao bought the house from Scott and Christy Bray.



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