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$1.6M Deal Tops Recent Real Estate Transactions

2 min read

Cypress Bend Properties LLC of Little Rock, led by Randy Alberius, has purchased 26.86 acres near the northwest corner of Kanis Road and Rahling Road in west Little Rock for $1.6 million.

The sellers are the estate of Ann Fulk, which received $533,000 from the sale; Lynda Bass Gaiser, Norman Gaiser, James Bass Jr., Bonnie Bass and Patricia Bass ($533,000); Logan Bass ($178,000); Walker Bass ($178,000); and Robert and Deborah Bass ($178,000).

Little Rock Land Bought

Kolp Irrevocable Trust of North Little Rock, led by Danielle Litaker-Nall, has purchased 14.23 acres in Little Rock on the west side of Old Shackleford Road, between 36th Street and Shackleford Road.

The purchase price was $660,000, and the seller was the Marion Young Revocable Trust and Mary Young Revocable Trust.

Cafe Sold

Lake Lane LLC of Glencoe (Fulton County), led by Naser Abed and Asim Awad, has purchased the 3,000-SF Chism Trail Cafe & Store at 300 Lake Lane in North Little Rock for $370,000.

The seller was Sultan Inc. of Cabot

County Acreage Bought

Ice 238 LLC of North Little Rock and Clifton Family LLLP, both led by Norman Clifton, has purchased 104.3 acres at 8500 Coulter Lake Road in Mabelvale for $357,500.

The seller was Lake View Country Club Inc. of Mabelvale, led by Dennis Parker.

Drug Testing Site Sold

Gro Properties LLC of Little Rock bought the 3,132-SF Courthouse Concepts building at 3205 Old Shackleford Road in Little Rock for $185,000.

Courthouse Concepts is a provider of employment background checks and drug screening.

The seller was Hick Ray Holdings Inc. of Little Rock.

Apartments Sold

LR Markham Apartments LLC of Conway, led by Yogesh Asudani and Davesh Sitaram, bought 27 apartments at 115 N. Taylor St. (11 units) and 5111 A St. (16 units) in Little Rock for $100,000 from Marchant & Reese Hotels LLC of Little Rock.

The buyer is affiliated with Conway Management Inc.

Asudani, Conway Management’s director of finance and risk management, said that purchase price is “skewed” because the apartments are part of a larger deal that includes two other properties, the GuestHouse Inn & Suites at 301 S. University Ave. in Little Rock and a business he declined to disclose the identify of.

He also said the company had not closed on all of the properties and declined to disclose the expected price for all four of them.

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