Christian Brothers Sells for $1.6 Million (Real Deals)

by George Waldon  on Monday, Apr. 2, 2012 12:00 am  

The deal included a neighboring 2,117-SF house. The sale was financed with a three-year loan of $193,500 from the bank.

The 0.39-acre development previously was linked with an April 2007 mortgage of $205,791 held by First Community.

The bank recovered the property from Larry and Barbara Young in May 2011 in a $138,000 non-judicial foreclosure sale. The Youngs entered the ownership picture in a $395,000 transaction with Glen and Cathie Ferren in April 2007.


Shackleford Crossings Note

The owner of a west Little Rock retail center landed a $33.7 million funding agreement.

Shackleford Crossings Investors LLC of Dallas got the three-year loan from the Guggenheim Life & Annuity Co. of Indianapolis.

The limited liability company recovered its namesake property at a $42 million foreclosure sale in July 2011.

Shackleford Crossings LLC, formerly led by Steve Clary, was the previous owner of the 271,675-SF lifestyle center.

The 37.7-acre retail development and undeveloped outparcels totaling about 8.7 acres previously were used to help secure debt of $57.4 million held by the project's construction lender, M&I Marshall & Ilsley Bank of Milwaukee.

Shackleford Crossings Investors acquired the debt in May 2011 for an undisclosed sum.

The land was purchased in October 2005 as part of an $11.4 million land deal with Summit Mall Co. LLC.

The limited liability company was a joint venture between Simon Property Group Inc. of Indianapolis and Dillard's Inc. of Little Rock.



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