Alexander Properties Produce $4.5M Sale (Real Deals)

by George Waldon  on Monday, Jun. 18, 2012 12:00 am  

The deal is backed with a 15-year loan of $566,000 from Arvest Bank of Fayetteville.

The residence previously was tied to a January 2002 mortgage of $200,000 held by Arvest Bank and a February 2002 mortgage of $345,000 mortgage held by Arvest Mortgage Co. of Lowell.

The location was purchased for $70,000 in December 1998.

The seller was Carriage Creek Property Owners Improvement District No. 639 of Little Rock.


Hotel Financing

Construction of a six-story Residence Inn by Marriott in downtown Little Rock is backed with a $12.6 million funding agreement.

MHG Little Rock RE Ltd. obtained the loan for the 107-room project from First Security Bank of Searcy.

The 0.53-acre site at the northeast corner of Third Street and River Market Avenue previously was linked with a September 2009 mortgage of $550,000 held by the bank.

The former parking lot space was acquired for $1.3 million more than two years ago.

The seller was Arkansas Democrat-Gazette Inc., led by Walter Hussman.




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