NLR Nursing Home Switches Hands in a $7.04 Million Deal (Real Deals)

by George Waldon  on Monday, Jun. 26, 2006 12:00 am  

The buyers are RHST Inc., led by Curtis Thomas, 80 percent; Aday Enterprises Inc., led by Gary Aday, 10 percent; and Brian Hunt, 10 percent.

The deal is backed with a one-year loan of $3.69 million from Bancorp-South Bank of Tupelo, Miss.

The land was bought for $450,000 in January 1975 as part of a 641-acre deal with John and Ruth Pride, Paul and Corinne Pride, and Jewell and Christine Pride.

Motel Purchase

A 111-room motel in southwest Little Rock drew an $840,000 sale.

Mahesh Enterprises-Little Rock LLC purchased the Royal Inn at 2401 W. 65th St. from BLC Real Estate LLC of New York.

BLC recovered the 2.5-acre development at a $1.76 million foreclosure sale in November 2004. The project was forfeited by Bsayona Inc., led by Jiten-drakunar Patel.

Bsayona defaulted on a January 2002 mortgage of $1.3 million held by BLX Capital LLC of New York.

West Tree Site

A corporate office property change hands in a $688,000 deal.

6300 Forbing Road Ltd., led by Ford Overton, acquired its namesake West Tree Service location. The seller is WTS Building Partnership, led by William Jackson.

The 10-acre project was purchased for $225,000 in June 1990 from Duckwall-Alco Stores Inc. of Little Rock.



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