Alexander Properties Produce $4.5M Sale (Real Deals)

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

Apartment Funding

The owner of a 172-unit apartment project in southwest Little Rock landed a $4.25 million financial package.

Village Green AR Associates LLC, led by Philip Welch, received the loan from CWCapital LLC of Needham, Mass.

The 10.9-acre development at 7601 N. Chicot Road previously was tied to a March 2002 mortgage of $3.75 million held by Deutsche Banc Mortgage Capital LLC of New York City.

The project was bought for $4.7 million more than 10 years ago from Alco Village Green Associates Ltd., led by Frank Jemison Jr.

 

 

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