Arkansas Business

Office Funding III

A 51,000-SF office building in west Little Rock is backing a $4.4 million financial package.

Pavilion Centre LLC, led by Tad Krug, received the seven-year loan from BancorpSouth Bank of Tupelo, Miss.

The 3.05-acre Pavilion Centre development at 8315 Cantrell Road previously was tied to a $4.87 million mortgage held by the New York office Deutsche Bank AG.

The site was acquired for $545,000 ($4.06 per SF) through Reservoir LLC in April 1997.  The seller was Mary M. Couch.

Discount Loan

The owner of an auto service property in downtown Little Rock secured a $553,000 mortgage. The Greg L. Hatcher Revocable Living Trust got the loan from Delta Trust & Bank of Little Rock.

The 0.23-acre Discount Tire & Brake development at 1201 W. Capitol Ave. previously was linked with an October 2007 mortgage of $568,000 held by Heartland Community Bank of Bryant.

The property was purchased for $165,000 in November 2000 from GMB Investments LLC, led by Robert Gladden