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.



Please read our comments policy before commenting.

Latest Arkansas Business Poll

Should the alcohol amendment remain on the ballot?