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Rehab & Health Care Center Attracts $3.5M Transaction (Real Deals)

5 min read

A 70-room nursing home in west Little Rock tipped the scales at $3.53 million.

FC Encore Properties B Holdco LLC, an affiliate of Formation Capital of Atlanta, purchased Chenal Rehabilitation & Healthcare Center at 3115 S. Bowman Road.

The seller is Diamond Senior Living LLC, an affiliate of GE Capital of Norwalk, Connecticut. The property is helping secure a $479 million funding agreement with a lending consortium led by KeyBank of Cleveland.

An affiliate of Centennial Healthcare Corp. of Atlanta acquired the 4.48-acre development for $3.02 million in August 1998 from St. Charles Healthcare LLC of Fort Smith.

GE Capital entered the ownership picture in the wake of Centennial Healthcare’s December 2002 bankruptcy.

BlueRoad Buy

A 7,125-SF medical building in Little Rock weighed in at more than $1.75 million.

BlueRoad Net Lease LLC, an affiliate of BlueRoad Ventures of Chicago, bought the 0.96-acre Fresenius Medical Care development at 5320 W. 12th St.

The seller is Chicago’s Brauvin Net Lease LLC, a private real estate investment trust.

Brauvin purchased the former Internal Medicine Clinic for $1.87 million in October 2012 from Southeast Medical Little Rock LLC of Birmingham, Alabama.

Multifamily Sale

A 10-unit apartment project in west Little Rock changed hands in a $915,000 deal.

Peeples Investments LLLP, led by Raymond Peeples Jr., sold the 800-818 Green Mountain Drive project.

The buyers were a group of Caprocq-led investors: Green Mountain Partners LLC, 84.9 percent; Burlingame Green Mountain Investments LLC, 8.4 percent; and Once LLC, 6.6 percent.

The deal is financed with a five-year loan of $457,500 from Greenwoods State Bank of Lake Mills, Wisconsin.

The 1.01-acre development previously was tied to a November 2014 mortgage of $500,000 held by Little Rock’s Bank of the Ozarks.

Peeples Investments bought the property for $998,000 in February 2005 from Michael Hancock, Brad Duke and Larry Goodwin.

Parking Purchase

A 0.29-acre piece of a parking lot in downtown Little Rock rang up a $625,000 sale.

Texarkana Newspapers Inc., led by Walter Hussman, purchased the property at the northwest corner of Capitol Avenue and Scott Street from James Whitmore III and his wife, Karon.

The property was acquired for an undisclosed sum in March 1944 from A.W. Realty Co., now a subsidiary of Southwestern Energy Co. of Spring, Texas.

Kanis Property

A 3.02-acre commercial parcel in west Little Rock is under new ownership after a $522,000 transaction.

Hamilton Reid Real Estate LLC, led by Brian and Catherine Barron, bought the 11601 Kanis Road property. The seller is YesICan LLC, led by Elaine Jones and Stephen Roach.

The deal is funded with a two-year loan of $417,600 from IberiaBank of Lafayette, Louisiana.

The property previously was linked with a March 2014 mortgage of $365,000 and an August 2014 mortgage of $25,000 held by Arvest Bank of Fayetteville.

YesICan purchased the property for $300,000 in March 2014 from the Reddick Family Remainder Trust and the Minnie L. Reddick Revocable Trust, both led by Sharon Reddick.

Automotive Acquisition

A 0.67-acre site in Little Rock drew a $155,000 deal.

O’Reilly Automotive Stores Inc. of Springfield, Missouri, acquired the land at the southwest corner of East Roosevelt Road and Commerce Street from Donna Hadfield Foss and O.D. Hadfield III.

The Hadfield family bought the property for $30,000 in May 1974 from the heirs of C. Hamilton Moses.

Heights Home I

A 3,065-SF home in Little Rock’s Country Club Heights neighborhood sold for $750,000.

Gerald Friend purchased the house from the Robert W. Lehmberg Revocable Living Trust.

The deal is backed with a 10-year loan of $417,000 from First Security Bank of Searcy.

Lehmberg acquired the property for $750,000 in December 2007 from the estate of Jack Fleischauer.

Heights Home II

A 3,080-SF home in the Heights area of Little Rock changed hands in a $662,400 transaction.

Karl and Elizabeth Schultz bought the house from Terra Firma Project LLC, led by Billy Collins Jr.

The deal is financed with a 15-year loan of $417,000 from Bank of the Ozarks.

The property previously was tied to a June 2015 mortgage of $523,800 held by Capital Bank of Little Rock.

Terra Firma purchased the location for $180,000 a year ago from the Kelley Johnson Family Revocable Trust.

The Schultz family acquired an adjoining lot for $225,000 in June 2015 from Terra Firma. It previously was linked with a $394,000 mortgage held by Capital Bank.

Terra Firma purchased the property for $180,000 in June 2015 from the Kelley Johnson Family Revocable Trust.

Woodland’s House I

A 4,837-SF home in west Little Rock’s Woodland’s Edge neighborhood rang up a $670,000 sale.

Joseph and Melanie Diorio acquired the house from Randy and Donna Wright.The deal is funded with 30-year loans of $536,000 and $67,000 from U.S. Bank of Cincinnati.

The residence previously was tied to an October 2013 mortgage of $190,000 held by Arvest Bank.

The Wrights bought the location for $75,000 in January 2013 from HRH Builders Inc., led by William Darby Jr.

Avignon Abode

A 5,172-SF home in the Avignon Court neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $610,000 deal.

Thurston and Hannah Bauer purchased the house from the Williams Revocable Trust, led by Dennis and Kathleen Williams.

The deal is backed with a 10-year loan of $610,000 from Simmons Bank of Pine Bluff.

The residence was acquired for $557,000 in December 2004 from John and Frances Chism.

PV Residence

A 3,610-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $528,000 transaction.

Aaron and Allison Bragg bought the house from Marshall and Melanie Coffman.

The deal is financed with a 15-year loan of $250,000 from Malvern National Bank.

The residence previously was linked with a June 2013 mortgage of $338,000 held by JPMorgan Chase Bank of New York.

The Coffmans purchased the property for $360,000 in March 2006 from Zhao Kezhuang and Yan Yang.

Woodland’s House II

A 3,890-SF home in the Woodland’s Edge neighborhood of west Little Rock sold for $515,000.

Meredith and Robert Zozus Jr. acquired the house from Anthony and Julie Carter. The deal is funded with a 30-year loan of $412,000 from Eagle Bank & Trust of Little Rock.

The residence previously helped secure a September 2015 mortgage of $655,000 held by AgHeritage Farm Credit Services of Little Rock.

The Carters bought the property for $470,000 in September 2012 from The Wilson Co., led by Janet Dillon.

Seven-Digit Construction

Technology Center    $6,500,000
415 Main St., Little Rock
East-Harding Inc., Little Rock

Warehouse Renovation    $1,893,786
LM Wind Power    
7400 Scott Hamilton Drive, Little Rock
W.G. Yates & Sons Construction Co., Philadelphia, Mississippi

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