Easter Seals Makes $3.2 Million Buy (Real Deals)

by George Waldon  on Monday, Apr. 9, 2012 12:00 am  

Allied Drive Holdings LLC, led by Stephen LaFrance Jr. and his brother Jason and Larry and Mark Middleton, received the loan from First Security Bank. The limited liability company acquired three office buildings on the former Alltel campus in December for $10.5 million from Alltel Communications LLC, an affiliate of Verizon.


Office Funding II

The owner of a 147,087-SF office building in west Little Rock picked up a $5.7 million financial package.

Life & Specialty Ventures LLC, led by Jason Mann, got the seven-year loan from its subsidiary, USAble Life of Little Rock.

The 21-acre development also is linked with a June 1999 mortgages totaling $10.7 million held by U.S. Bank of Cincinnati.

The former Nuvell Building at 17500 Chenal Parkway was purchased for $17.3 million in August 2011 from Arkansas Systems Building Co. LLC, led by Hank Kelley; Gary and Marilyn Heathcott and John and Karen Flake.


Multifamily Financing

Construction of 50 units for senior living in southwest Little Rock is in motion with a $5.3 million funding agreement.

Orchards At Mabelvale Phase II Ltd., led by Arby Smith and Keith Richardson, obtained a two-year loan of $4.39 million from Stearns Bank of St. Cloud, Minn., and a no-interest, 20-year non-recourse federal loan of $900,000 through the Arkansas Development Finance  Authority.

The land near the southeast corner of Mabelvale Pike and Davmar Drive was bought for $350,000 in May 2010 as part of a 16.2-acre deal with the Mary M. Garner Trust and George and Francis Martin.



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