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

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

Shri Jinasha LLC, led by Lina, Nimisha and Rajni Patel, got the loan from West Central Arkansas Planning & Development Inc. of Hot Springs.

The 2.6-acre Quality Inn & Suites development at 6100 Mitchell Drive previously was linked with a March 2011 mortgage of $633,000 held by the bank. The project also is backing a March 2011 mortgage of $1.05 million held by Great Southern Bank of Springfield, Mo.

The motel was acquired for $1.75 million 11 months ago.

The seller was U.S. Bank, as trustee of Bear Stearns Small Balance Commercial Mortgage Pass-Through Certificates Series 2006-1.



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