Our Way Apartments in WLR Sells for $2.88 Million (Real Deals)

by George Waldon  on Monday, Feb. 6, 2006 12:00 am  

The 0.97-acre development previously was linked with a June 2004 mortgage of $483,300 and a June 2005 mortgage of $85,000 held by the bank.

The property was bought for $521,000 19 months ago from Amata and Charles Smith and Gwendolyn Alter.

Restaurant Site

A 0.76-acre commercial site in southwest Little Rock rang up a $389,000 sale.

Restinvest LLC, led by Gerald Kinion, acquired the property at 10114 Mabelvale Plaza Drive. The seller is Mabelvale Plaza Phase II LLC, led by Rick Ashley.

Construction is financed with a 10-year loan of $950,000 from Arvest Bank of Tulsa.

The land is part of an 85.4-acre tract assembled by the Ashley family’s Conservative Development Co. in deals with Agnes Martin and Marilyn Garner, 44.4 acres for $1.62 million in September 1992, and with Billy Jane McGourik Bussa, 41 acres for $1.03 million in March 1992.

Hillcrest Land

Undeveloped property in the Hillcrest area of Little Rock sold for $297,000.

Community Real Estate Partners LLC, led by John Borchert, bought the 1.3-acres on the north side of “A” Street between North Van Buren and Harrison streets. The seller is S&B Corp LLC, led by Sharon Adkins.

The property was part of the $930,000 acquisition of the Markham Inn at 5120 W. Markham St. in May 2002 from Beal Bank of Dallas.

Bush Buy

 

 

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