Former Fellowship Offices Finds $4.6 Million Buyer (Real Deals)

by George Waldon  on Monday, Sep. 15, 2008 12:00 am  

The nonprofit corporation acquired its 4-acre location in August 1993 for $620,392 from J.D.A. Inc., led by Jeanne Anthony. An additional 0.4 acres was added in two buys totaling $19,000.

The sellers were Jett and Georgeane Ricks Family Corp., $10,000 in September 1997; and Johnnie and Fay Rosell, $9,000 in October 1997.

Retail Funding

Development of retail space in Sherwood is in motion with a $4.5 million financial package.

R&L Properties, led by Doyle Rogers and Tommy Lasiter, received the seven-year loan from Citizens Bank of Batesville.

The 6.3-acre site in front of the new Wal-Mart Supercenter is part of the land assembled largely through two deals totaling more than $1.3 million. The sellers were Lilac LLC, led by Andy Collins, $1.03 million in November 2006; and Mary Ann Bellas and her husband, Richard, $280,000 in June 2005.

School Mortgage

Expansion of a private school in west Little Rock is backed with a $3.5 million construction mortgage.

Arkansas Baptist School System got the five-year loan from Bank of the Ozarks in Little Rock.

The 20.9-acre school development at 8400 Ranch Blvd. previously was linked with a May 2007 bond issue of $2 million through the Pulaski County Public Facilities Board and a March 2006 mortgage of $600,000 from Bank of the Ozarks.

The school system bought the location for $420,000 in June 1991 from Ranch Properties Inc., led by Ed Willis.

Industrial Note

The owner of industrial space in downtown Little Rock obtained a $1.7 million funding agreement.

Middleton Realty LLC, led by Gary and Kent Middleton, secured five-year loans of $1.7 million and $130,000 from Regions Bank.

The 5.3-acre Magna IV Color Imaging development at 2401 Commercial Drive previously was tied to an August 2005 mortgage of $2 million from U.S. Bank of Minneapolis and an April 2007 mortgage of $500,000 from Metropolitan National Bank.



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