Baptist State Convention Quarters Sold for $2 Million (Real Deals)

by George Waldon  on Monday, Oct. 27, 2008 12:00 am  

The location was bought for $100,000 in March 1983 from Baird Inc., led by Betty Baird.


More than 291 acres in south Pulaski County is under new ownership in a transaction valued at $580,000.

Canopy Timberlands Spout Springs LLC of Dallas acquired the land from RMS Timberlands LLC of Birmingham, Ala. Almost all the acreage is in a tract a half-mile west of Interstate 530, south of Hensley Loop.

The deal is part of a much larger transaction funded with an $11 million loan from Metropolitan Life Insurance Co. of New York.

The property previously was used to help secure a November 2006 mortgage of $365 million held by Metropolitan Life Insurance Co., Prudential Life Insurance Co. of America of Newark, N.J., Farm Credit Bank of Texas in Austin and Robobank of the Netherlands.

RMS Timberlands purchased the land nearly two years ago as part of a $1.7 million deal with Blue Sky Timber Properties LLC, a subsidiary of Southeast Timber Inc.

Chenal Downs Home

A 3,900-SF home in west Little Rock's Chenal Downs neighborhood sold for $725,000.

James Calhoun bought the house from Steven Young Jr. and his wife, Cindy. The deal is financed with a 30-year loan of $725,000 from Bank of America in Charlotte, N.C.

The residence previously was linked with a July 2003 mortgage of $322,700, a July 2007 mortgage of $174,899, a December 2006 mortgage of $150,000 and an April 2006 mortgage of $17,000 held by One Bank & Trust of Little Rock.

The location was acquired for $124,000 in October 2001 from Deltic Timber Corp. of El Dorado.



Please read our comments policy before commenting.