Farm Flip Produces $2.5 Million Transaction (Real Deals)

by George Waldon  on Monday, Aug. 8, 2011 12:00 am  

The synod acquired the property for $301,000 in April 1988 from Winrock Development Co., led by Russ McDonough.

 

Site Acquisition

A car wash project is in the works following a $670,000 land deal at west Little Rock's Shackleford Crossings project.

GDR Partners LLC, le by Gary Weare, David Eusanio and Richard Spooner, purchased the 0.82-acre site at 2702 S. Shackleford Road. The seller is Shackleford Crossings LLC, formerly led by Steve Clary.

The development is backed with a one-year loan of $1.76 million from Malvern National Bank. The property previously was used to help secure $57.4 million of debt held by M&I Marshall & Ilsley Bank of Milwaukee.

The site was bought 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.

PV Residence

A 4,645-SF home in west Little Rock's Pleasant Valley neighborhood changed hands in a $615,000 sale.

Michael and Sherri Bixler acquired the house from Jeff and Cathy Hooker. The deal is financed with a one-year loan of $417,000 from IberiaBank of Little Rock.

The residence previously was linked with a June 1998 mortgage of $330,000 originated by Little Rock's Bank of the Ozarks and a January 2009 mortgage of $331,115 originated by Bank of Little Rock Mortgage Corp.

 

 

Please read our comments policy before commenting.
Search

Latest Arkansas Business Poll

Did the Fed make the right call on interest rates?