Little Rock Apartment Complex Sold for $2.2 Million (Real Deals)

by George Waldon  on Monday, Feb. 18, 2008 12:00 am  

Quarry Financing

A 3-acre property in North Little Rock was used to help secure a $2.17 million financial package.

Jeffrey Quarry Ltd., led by Rex Robertson, received the two-year loan from Little Rock's Bank of the Ozarks.

The limited partnership bought the 8810 MacArthur Drive property for $251,000 in October 2007 from Leldon and Mary Jo Whaley.

Multi-Property Loan

The owner of a commercial project in downtown Little Rock and two warehouse developments in North Little Rock landed a $2 million funding agreement.

The One Bank & Trust loan is secured by the 0.3-acre development at 123 W. Third St. and 9.7-acre, 213,000-SF Warehouse 2 at 10th and Vine streets and the 7.1-acre, 175,000-SF Warehouse 3 at Eighth and Beech streets.

The projects previously were tied to a May 2003 mortgage of $1 million and an August 2001 mortgage of $600,000 held by the bank.

123 West Third Associates Ltd., led by Ken McRae IV, took ownership of its namesake property from Wilson-McRae Inc. in a November 1990 transaction valued at $125,000.

10th Street Warehouse Associates LLC acquired the warehouse projects for $550,000 in May 2003 from Mid-South Associates Ltd. of Dallas.  



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