Warehouse Sale at LR Port Tops $1 Million (Real Deals)

by George Waldon  on Monday, Feb. 27, 2012 12:00 am  

 

Peaks Financing

Construction of 48 units at a North Little Rock apartment project is backed with a $4.04 million funding agreement.

Peaks At North Little Rock Phase II Ltd., led by Arby Smith and Keith Richardson, obtained the two-year loan from Arvest Bank of Fayetteville and a 35-year loan of $900,000 through the Arkansas Development Finance Authority from the Community Development Block Grant Disaster Program.

The 1.7-acre site is on the west side of Counts Massie Road and south side of Country Club Boulevard. The land is part of a 19.9-acre tract assembled in two transactions totaling $568,000.

The sellers were William, Charles IV, Linda, Brian, Denia and Tanya Stanley, 18.8 acres for $399,000 in May 2003; and Metropolitan National Bank, 1.1 acres for $169,000 in February 2008.

 

 

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