Ridge at Chenal Site Bought for $2.6 Million (Real Deals)

by George Waldon  on Monday, Jul. 25, 2011 12:00 am  

The development is funded with a 25-year loan of $1.86 million from Standard Insurance Co. of Hillsboro, Ore.

The land previously helped secure a June 2007 mortgage of $4 million held by Twin City Bank of North Little Rock

The property is part of a 30-acre tract purchased for $3.6 million from Sherwood Land Co., led by Steve Deere.


Convenient Sale II

A 3,100-SF convenience store in North Little Rock rang up a $650,000 sale. Yafai Investment Inc., led by

Mohammed Yafai, acquired the

Double Quick at 3800 Camp Robinson Road.

The seller is Guard LLC, led by Haitham Alley. Guard LLC provided a seven-year loan of $500,000 to finance the transaction. The 0.44-acre property previously was used to help secure an August 2006 mortgage of $250,000 and a June 2008 mortgage of $712,000 held by Simmons First National Bank of Pine Bluff.

The land was part of a larger tract assembled by the Alley family in four buys totaling $299,500. The sellers were Joel and Janet Holmes, $152,000 in January 1990; Mary Wood, $60,000 in January 1995; Mary and Randall Melnar, $50,000 in June 1993; and Ronnie and Connie Ringer, $37,500 in January 1990.


Historic Purchase



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