Farm Flip Produces $2.5 Million Transaction (Real Deals)

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

The property was purchased for $400,000 in June 1998 from Spencer and Virginia Johnson.


Jackson Towers Note

The owner of a 100-room independent living center in Jacksonville landed a $3.92 million funding agreement.

Jacksonville Towers Inc. of Fort Lauderdale, Fla., obtained the 35-year loan from Wells Fargo Bank of McLean, Va.

The 5.32-acre Jacksonville Towers development at 200 S. Hospital Drive previously was tied to a December 1977 loan from the U.S. Department of Housing & Urban Development.

The location was bought for $133,000 more than 33 years ago from General Properties Inc., led by James P. Matthews.


Access Credit

A non-profit, special needs school in west Little Rock picked up a $500,000 line of credit.

Access Group Inc., led by Wallace Davis, received the funding from Delta Trust & Bank of Little Rock.

The 4-acre development at 10618 Breckenridge Drive also is tied to a December 2008 mortgage of $1.65 million held by the bank.

The property was acquired for $1.04 million in February 2001 from Bible Church of Little Rock.



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