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Wingate by Wyndham Hosts $2.9 Million Sale (Real Deals)

3 min read

The sale of a 62-room hotel in North Little Rock weighed in at $2.92 million.

McCain Hospitality LLC, led by Yogesh Asudani, acquired the Wingate by Wyndham at 4801 W. Commercial Drive. The seller is Shri Ram Associates Inc., led by Manoj Patel.

The deal is financed with one-year loans of $2.3 million and $550,000 from First Arkansas Bank & Trust of Jacksonville.

The 2.39-acre development previously was tied to a June 2012 mortgage of $2.3 million held by the bank.

The site was assembled in two transactions totaling $265,000.

The sellers were Reed and Katherine McConnell, $200,000 in October 1997; and Del Oro Tierra Investments LLC, led by Samuel Fiori and Jon Dyer, $65,000 in July 1998.

Downtown Deal

A 20,332-SF building in downtown Little Rock changed hands in a $975,000 transaction.

6th & Center LLC, led by Jordan Haas, bought the 527 Center St. project. The seller is The Irrevocable Mathis Building Trust, led by Melody Lile.

The deal is backed with a five-year loan of $600,000 from Great Southern Bank of Springfield, Missouri.

The 0.24-acre development previously was linked with four mortgages originally totaling $1.1 million held by Arvest Bank of Fayetteville.

The property was acquired in the name of the John Mathis Lile III Revocable Inheritance Trust for $400,000 in April 2003.

The seller was Quapaw Restoration Associates LLC, led by Johnny Mitchum.

Rural Retail

A 1,728-SF convenience store in west Pulaski County is under new ownership after a $519,875 sale.

ARA Properties LLC, led by Asif Hemdani and Ameen Pabani, purchased the property at 17500 Col. Glenn Road and an adjoining 1.73-acre parcel.

The sellers are Susan and Sammy Lands and Colonel Glenn Grocery & Feed Inc., led by Rebecca Lands.

The deal is funded with a three-year $415,000 loan from Bank of England.

The land was bought for $100,000 in April 1997 from Fay and Lois Goodwin.

Hillcrest Property

A 3,324-SF commercial building in the Hillcrest area of Little Rock drew a $464,848 transaction.

2611 Kavanaugh LLC, an affiliate of Little Rock’s Rock Capital Group, acquired its namesake project on Kavanaugh Boulevard, home to Salon Cordé and Next Bistro.

The seller is E.O. Corder Inc., led by Eddie Corder.

The development previously was tied to a March 2001 mortgage of $270,000 held by Heartland Community Bank of Camden.

Corder purchased the property for $270,000 14 years ago from 2611 Kavanaugh, a general partnership led by Jimmy Moses.

Overlook Home

A 4,480-SF home in Little Rock’s Overlook Park neighborhood tipped the scales at $1.05 million.

Trident Trust, led by Tobias and Teresa Vancil and Scott Daniel, bought the house.

The seller is S&M Joint Revocable Trust, led by Sharon and Michael Moore.

The deal is financed with a 30-year loan of $840,000 from Fairway Independent Mortgage Corp. of Plano, Texas.

The residence previously was linked with an April 2012 mortgage of $150,000 held by Regions Bank of Birmingham, Alabama.

The property was acquired for $850,000 in July 2011 from Dick Holbert and the Karen C. Holbert Revocable Trust.

Heights Abode

A 3,875-SF home in the Heights area of Little Rock rang up a $685,500 transaction.

Whitney Allison purchased the house from Aaron and Ashley Peeples.

The residence previously was tied to an August 2010 mortgage of $310,000 held by Arvest Bank.

The Peeples family bought the property for $660,000 more than four years ago from the Caymus Trust, led by Stephen and Stephanie Kyser.

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