Terra Vista Apartments Visited by $3.3M Sale (Real Deals)

by George Waldon  on Monday, Nov. 6, 2017 12:00 am   4 min read

A 205-unit apartment project in Little Rock weighed in at $3.3 million.

Republic Terra Vista Ltd., an affiliate of Republic Funds of Toronto, bought Terra Vista Apartments at 4811 Terra Vista Circle. The seller is Arbor Place Apartments Ltd. and Arbor Place Apartments Ltd. II, both led by Donald Marshall Jr. and Melba Marshall.

The deal is financed with a three-year loan of $2.2 million from Little Rock’s Bank of the Ozarks.

The nearly 8.9-acre development previously was linked with a July 2008 mortgage of $1.4 million held by One Bank & Trust of Little Rock and an October 2016 mortgage of $253,565 held by Southern Bancorp Capital Partners of Arkadelphia.

The Marshalls purchased the project for $1.5 million in July 2008 by acquiring the limited partnerships based in Irvine, California.

JTS Office
The future home of Little Rock’s JTS Financial Services and its affiliated ventures tipped the scales at $1.04 million.

AOR LLC, led by John Starling, acquired the 21,256-SF office building at 1616 Brookwood Drive from the United States of America.

The deal is funded with a 7.5-year loan of $837,920 from First Security Bank of Searcy.

The 2-acre development was forfeited to Uncle Sam in October 2015 by King Coal Holdings LLC, led by Stephen Parks. The court-ordered forfeiture resulted from the fraud case against King Coal and Parks.

Truck Center Sale
A 26,504-SF truck service center in east Little Rock changed hands in an $875,000 transaction.

BCR Investments LLC, led by Benjamin Davis II, Cindi Mathis and Ronald Davis, purchased the 4614 Thibault Road project from Tri-State Truck Center Inc. of Memphis.

The deal is backed with a five-year loan of $875,000 from Central Bank of Little Rock.

The 6.98-acre development was acquired for $25,000 in November 1986 from James and Letitia Haygood; James Haygood III and his wife, Julie; Frank and Claudette Phillips; Temple and Barbara Montgomery; F.A. Maddox Jr. and his wife, Barbara; and the estate of Frank Doggrell.

IFP Acquisition
A 10,550-SF office-warehouse in North Little Rock drew an $850,000 transaction. IFP Realty LLC, an affiliate of International Fire Protection Inc. of Madison, Alabama, bought the 7031 Dewafelbakker Lane project.

The seller is Thousand Peaks Ventures LLC, led by Joe Carter Jr.

The 1.47-acre development previous-ly was tied to an August 2014 mortgage of $875,000 held by One Bank.

The land was purchased for $195,000 in November 2009 from MM Maumelle LLC, led by Matt Enderlin.

Charter Redevelopment
The future home of Einstein Charter School sold for $425,000. KLS Leasing LLC, an affiliate of Bentonville’s Walton Family Foundation, acquired the former Garland Elementary School at 3615 W. 25th St. from the Little Rock School District.

The 2-acre property was assembled in deals with J.A. Bowman in June 1923, Little Rock’s Commercial Trust Co. in August 1923 and Pearlie Mann in September 1923.

Pest Project
A 3,516-SF office building in Little Rock is under new ownership after a $360,000 transaction.

Bird & Bear Properties Inc., led by Jay Heflin, purchased the Legacy Termite & Pest Control project at 7701 Cantrell Road. The seller is TPC Management LLC, led by Marilyn Robison.

The 0.26-acre property was acquired for $25,000 in November 1982 from Monoil Realty Co. of New York.

Germay Manor
A 5,753-SF home in the Germay Court neighborhood of west Little Rock’s Chenal Valley development tipped the scales at $1.04 million.

Raja Pola and Rajani Jagana bought the house from Dennis and Tina Porter. The deal is financed with a 30-year loan of $836,000 from Bank of America in Charlotte, North Carolina.

The residence previously was linked with a July 2013 mortgage of $560,000 held by Regions Bank of Birmingham, Alabama.

The Porters purchased the property for $960,000 more than four years ago from Jeffrey and Melissa Stewart.

Heights Home I
A 2,504-SF home marked for tear-down in Little Rock’s Heights area weighed in at $1 million.

Hawthorne Trust, led by John Rutledge, acquired the residence from the Virginia Mitchell Revocable Trust.

The 0.47-acre property was assembled in deals with T.C. and Effie Wadley in June 1946 and Albert Fletcher, bishop of the Roman Catholic Diocese of Little Rock.

Heights Home II
A 4,577-SF home in Little Rock’s Heights area rang up an $890,000 sale.

Frederick and Mary Barr purchased the house from the French Family Trust, led by Mary French. The deal is tied to a 30-year loan of $720,000 from Eagle Bank & Trust of Little Rock.

The residence was acquired for $650,000 in April 2010 from President Street Properties LLC, led by Craig Douglass.

Hallen House
A 5,568-SF home in the Hallen Court neighborhood of west Little Rock’s Chenal Valley neighborhood changed hands in an $800,000 deal. The namesake trusts of Gerald and Mary McNamer bought the house from Kingsley Glasgow. The residence previously was linked with a January 2015 mortgage of $855,774 held by Bella Casa LLC, led by Skip Davidson.

Glasgow purchased the property for $800,000 more than two years ago from Gerald and Catherine Martindill.

Heights Home III
A 3,250-SF home in Little Rock’s Heights area drew a $717,100 transaction.

Samuel and Jodeen Evans acquired the house from Jeff Fuller Homes LLC.

The deal is backed with a 30-year loan of $573,680 from Delmar Financial Co. of St. Louis.

The residence previously was tied to a March 2017 mortgage of $536,000 held by Bank of the Ozarks. The property was bought for $169,000 eight months ago by Pacific Trust LLC, led by Rodger Cargile.

Wye Residence
A 6,924-SF home near west Pulaski County’s Wye Mountain community sold for $580,000. Gary and Patricia Bonner purchased the 25-acre spread from James Mosley.

The deal is funded with a 30-year loan of $400,000 from BancorpSouth Bank of Tupelo, Mississippi.

The residence previously was linked with a March 2007 mortgage of $650,000 held by One Bank.

The property was acquired for $628,000 in February 1997 from Joseph Blankenship.

Courts Dwelling
A 4,488-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $540,000 deal. Jeff and Tiffany Weatherly bought the house from Wilson and Barbara Hatfield.

The residence previously was tied to a November 2012 mortgage of $200,000 held by IberiaBank of Lafayette, Louisiana, and a November 2013 mortgage of $260,000 held by IberiaBank Mortgage Co.

The Hatfields purchased the property for $480,000 in August 2009 from Simmons Bank of Pine Bluff.

Ensbury Abode
A 3,350-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development rang up a $535,658 sale.

Kenneth and Shawn Clark acquired the house from Byron Holmes Construction Inc. The residence previously was linked with a January 2017 mortgage of $432,000 held by Central Bank.

The site was bought for $90,000 in December 2016 from Deltic Timber Corp. of El Dorado.

 

 

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