Memory Care Facility Visited by $14M Sale (Real Deals)

by George Waldon  on Monday, Mar. 20, 2017 12:00 am  

Memory Care of Little Rock at Good Shepherd in west Little Rock.

A 74-bed assisted living center in west Little Rock weighed in at $14.07 million.

MHI Little Rock Ltd., an affiliate of Mainstreet Health Investments of Carmel, Indiana, bought the 43,988-SF Memory Care of Little Rock at Good Shepherd facility at 2501 Aldersgate Road.

The seller is MC-Little Rock AR-1 UT LLC, an affiliate of the Embree Group in Georgetown, Texas.

The 5.7-acre development previously was tied to a November 2014 mortgage of $9.5 million held by Metropolitan National Bank of Nashville, Tennessee.

The location was purchased for $745,000 in November 2014 from ERC Foundation Inc., led by Mark Davis.

CVS Transaction
A 13,536-SF CVS Pharmacy in southwest Little Rock changed hands in a $5.71 million sale.

Centennial Associates No. 1 LLC and Centennial Associates No. 2 LLC, both in Narberth, Pennsylvania, acquired the 8902 Geyer Springs Road project.

The seller is MC Little Rock AR Landlord LLC, an affiliate of SunTrust Equity Funding LLC of Atlanta.

The 2.31-acre development is backed with a $3.4 million loan from First Fidelity Bank of Oklahoma City. The location was assembled in three transactions totaling $2.08 million.

The sellers were the John Perry Trust, $880,000 in April 2015 for the Advantage Auto Parts store at 8902 Geyer Springs Road; APS Investment LLC, led by Avtar Momi and Satpal Kamboj, $800,000 in May 2015 for the Exxon Food Mart project at 6001 Baseline Road; and JV Holding Co., led by John Vice II, $400,000 in May 2015 for a 1.16-acre parcel.

Grill Acquisition
A 7,090-SF eatery in west Little Rock tipped the scales at $2.52 million. DB Triple Dipper Restaurant LLC, an affiliate of Fortress Investment Group of New York, purchased Romano’s Macaroni Grill at 11100 W. Markham St. from Centre Structured Trust 2 of New York.

The 2.64-acre development is helping secure a $70.4 million funding agreement with Wells Fargo Bank of Sioux Falls, South Dakota.

The property previously helped secure a November 1997 mortgage of $10.5 million held by First Union National Bank of Charlotte, North Carolina.

The project was purchased for $2.01 million more than 19 years ago from Modernage Inc., an affiliate of Brinker International in Dallas.

Liquid Assets
A beverage project in Little Rock is under new ownership after a $1.65 million transaction.



Please read our comments policy before commenting.