North Little Rock Acreage Sale Tops $1 Million (Real Deals)

by George Waldon  on Monday, Feb. 13, 2012 12:00 am  

The sale of a 463-acre tract in North Little Rock tipped the scales at $1.03 million.

Tulip Farms Inc., led by Jimmy Winemiller, bought the property from Little Rock's Bank of the Ozarks.

The land, near the southeast corner of Interstate 40 and Galloway Road, north of U.S. 70 and south of Long Cypress Brake, previously was tied to a February 2007 mortgage of $2.25 million held by the bank.

Bank of the Ozarks took possession of the property through a deed in lieu of foreclosure transaction in September 2011 with Rex Robertson.

Robertson, through Courtney Lane LLC, purchased the land for a reported $3.4 million four years ago from Lena Belle Young Stafford Ltd.

 

Multifamily Recovery

Two four-plex apartments in North Little Rock are under new ownership after a $600,000 transaction.

Eagle Bank & Trust of Little Rock recovered the projects at 10930 and 10950 Frenchmen Loop from Barry Rancifer and Patrick Williams.

The bank held an August 2008 mortgage of $680,000 and landed a $686,785 judgment after foreclosing on the property. The 0.3-acre developments were bought for $328,000 each in March 2007 from Parker & Sons Inc., led by Toby Parker.

 

Retail Site

A Dollar General Store site in west Little Rock rang up a $111,000 sale.

 

 

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