Who Pays $1 Million for a Home?

by Mark Friedman  on Monday, Jun. 23, 2008 12:00 am  

Sam and Sara Larimore discovered their $1.4 million "wow house" in west Little Rock's Chenal Circle neighborhood.

In July, a 4,700-SF home in Little Rock's Palisades Estates neighborhood sold for $1.47 million.

Brentwood Trust, led by Laura and Mark Doramus and Tom Laker, bought the home from Richard and Margaret Dearnley.

Mark Doramus is the chief financial officer for Stephens Inc. of Little Rock. He also is on the board of the Winthrop Rockefeller Foundation.

In April 2007, 32CC LLC, led by Jan and Ted Snider Jr., bought a 5,270-SF home in west Little Rock's Chenal Valley neighborhood for $1 million.

They purchased the home from Douglas and Dianne Smart.

Snider is part of the Snider family that owned several radio stations in Arkansas, which were sold to Citadel Communications Corp. in 1997.

A teardown redevelopment near the Country Club of Little Rock sold for $1.15 million in May 2007.

Elorac Properties LLC, led by Chuck and Carole Meyer, bought the 4,750-SF home from WRS Holdings LLC, led by Willis Smith.

Chuck Meyer had owned Meyer's Bakeries Inc. of Hope until 1999, when it was sold to a New York investment firm for an undisclosed sum. In 1999, the company had $12.8 million in operating income on sales of about $90 million.

The last seven-figure home sale of 2007 occurred on Dec. 27. Donald and Melba Marshall spent $2 million on a 9,089-SF home in west Little Rock's Valley Falls Estates neighborhood.

They bought the home from Steve and Missy Wortman.

Donald Marshall is the registered agent for Marshall Management Inc. of Little Rock, which was formed in 2002. Melba Marshall is listed as the organizer and incorporator.

The Marshalls manage property. In 2004, the Marshalls acquired 122 units of what was known as the Lew & Crenshaw project. They rechristened it Meadowcrest Apartments and invested more than $600,000 to renovate the property.



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