EStem Buys Historic Gazette Building for $5.3 Million (Real Deals)

by George Waldon  on Monday, Mar. 21, 2011 12:00 am  

The historic home of a school in downtown Little Rock tipped the scales at $5.3 million.

EStem Public Charter Schools Inc. purchased the Arkansas Gazette Building at 112 W. Third St. from Arkansas Democrat-Gazette Inc., led by Walter Hussman Jr.

The 1-acre development is backed with five-year loans of $5.9 million from Southern Bancorp Capital Partners of Arkadelphia and $2.9 million from the Walton Family Foundation Inc. of Bentonville.

The property was valued at $1.1 million when Gannett River States Publishing Corp. sold it in October 1991 to Hussman's Little Rock Newspapers Inc.

 

Christian Brothers Sale

An automotive service center in North Little Rock changed hands in a $1.8 million sale.

Regal Properties LLC, led by Muhammad and Zoka Almahayni, bought the 4,762-SF Christian Brothers facility at 12701 Maumelle Blvd. The seller is Christian Brothers Maumelle Ltd., led by Mark Carr.

The deal is funded with a $1.03 million loan from U.S. Bank of Minneapolis. The 0.76-acre development previously was tied to a December 2008 mortgage of $1.57 million held by Amegy Bank of Houston.

The location was purchased for $456,000 more than two years ago from WNLR Investments LLC, led by Andy Collins.

 

B&F Transaction

 

 

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