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

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

The land at the northwest corner of Interstates 430 and 30 previously was tied to a $2.6 million mortgage held by Metropolitan National Bank.

The property was assembled in four January 2002 deals totaling more than $2.4 million.

The sellers were Canadian Pacific Properties Inc. of Alberta, Calgary, $1.46 million; Otter Creek Development Co. LLC, led by Robert McGinnis and Byron Eiseman, $784,000; Cynthia Keaton, $143,000; and Jennifer Mae Kochtitzky Trust No. 2, $81,390.

Hickory Grove Funding

A residential project in west Little Rock is backed with a $2.1 million funding agreement.

EV Mark Development LLC, led by James and Melinda Markus and Robert and Lori Evans, received the two-year loan from Metropolitan National Bank.

The 12 lots in the Hickory Grove subdivision and 38.6 acres west of Hinson Road and north of Windsor Road previously were linked with a July 2003 mortgage of $1.7 million held by Arvest Bank.

The property was acquired in July 2003 as part of a $725,000 deal with Little Rock’s First Baptist Church.

Glover Mortgage

Industrial property in North Little Rock is backing a $1.44 million mortgage. James and Myrna Glover, got the five-year loan from Summit Bank of Hope. The 5-acre Glovers Truck Parts & Equipment development at 1200 Baucum Industrial Drive and 12.2 acres previously were tied to a December 2004 mortgage of $1 million held by Capital Bank of Little Rock.

The land was assembled in three transactions totaling $220,000.

The sellers were the Herschel Friday estate, William and Peggy Sutton, William and Elizabeth Terry, William and Kay Patton, William and Mary Lou Cravens, and Oaklawn Jockey Club Inc., led by Charles Cella, $85,000 in July 2003; and $64,000 in November 1998; and Western Little Rock Co., led by Floyd Fulkerson, $71,000 in December 1996.



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