Maumelle Starbucks Sells For $1.1 Million (Real Deals)

by George Waldon  on Monday, Feb. 15, 2010 12:00 am  

The owner of 74 acres in west Pulaski County picked up a $3 million financial package.

2610 Acres LLC, led by Rick Ferguson, received the one-year loan from Centennial Bank of Conway.

The land, a half-mile north of Lake Maumelle between Roland and Little Italy, previously was used to help secure an August 2005 mortgage of $3 million held by Twin City Bank.

The property was bought in January 2005 as part of a $2.4 million deal with Soterra LLC of Jackson Miss., an affiliate of Greif Brothers Corp. of Delaware, Ohio.

Rainwater Refinance

A downtown Little Rock property is backing a $1.2 million mortgage.

Rainwater Properties LLC, led by Bryan Hosto, got a five-year loan of $780,000 and a two-year loan of $420,000 from BancorpSouth Bank.

The Century Graphics Building at 701-711 W. Seventh St. previously was linked with a July 2002 mortgage of $1 million and an October 2006 mortgage of $500,000 held by Twin City Bank.

Rainwater Properties acquired the 0.57-acre development for $657,000 in July 2001 from Gary and Patricia Middleton.



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