Affiliated Foods Project Sells for $1.7 Million (Real Deals)

by George Waldon  on Monday, Jul. 2, 2012 12:00 am  

A 64.2-acre industrial development in southwest Little Rock changed hands in a $1.7 million foreclosure sale.

Thomas Bartholomew, founder and owner of CalArk Trucking, purchased the former Affiliated Foods headquarters and warehouse complex at 12103 Interstate 30.

The 64.2-acre development is home to four warehouses with 566,000 SF under roof, two office buildings totaling 8,100 SF and a 7,000-SF service garage.

The project previously was linked with a May 2001 mortgage of $15 million held by General Electric Capital Business Asset Funding Corp. of Bellvue, Wash.

Shur-Valu Stamps Inc., an Affiliated Foods subsidiary, assembled the land in three buys totaling $1.88 million.

The sellers were Affiliated Foods Inc., led by C.E. Toland, $1.6 million in June 1972; Otter Creek Development Co., led by Luke Quinn, $275,000 in December 1980; and Entergy Arkansas Inc., $7,000 in May 1998.


Deauville Abode

A 4,932-SF home in the Deauville Place neighborhood of west Little Rock's Chenal Valley development home rang up a $778,000 transaction.

Byron and Shelley Rogers acquired the house from Randy James Construction

Co. The deal is funded with a 15-year loan of $588,000 from Arvest Bank of Fayetteville.

The residence previously was tied to a May 2011 mortgage of $500,000 held by Bancorpsouth Bank of Tupelo, Miss.

The site was bought for $151,000 in April 2005 from Deltic Timber Corp. of El Dorado.


Orle Residence

A 4,975-SF home in the Orle Circle neighborhood of west Little Rock's Chenal Valley development drew a $695,000 sale. James and Rhonda Gentry purchased the house.

The sellers are Robert and Tonya Rainey and Mark and Vonda Rainey.

The deal is backed with a six-month loan of $417,000 from Riverside Bank of Sparkman (Dallas County).

The location was acquired for $142,000 in May 2006 from Deltic Timber.


Maisons Home

A 5,281-SF in The Maisons neighborhood of west Little Rock's Chenal Valley development is under new ownership after a $590,000 transaction.

Gregory and Anita Hall bought the house from Martin and Sarah Carey. The deal is financed with a 30-year loan of $417,000 from Arvest Mortgage Co. of Lowell and a five-year loan of $143,500 from Arvest Bank.

The residence previously was linked with September 2007 mortgages of $600,000 and $74,925 from Centennial Bank of Conway.

The property was purchased for $750,000 nearly five years ago from Douglas and Brooke Malmstrom.


Arbors House

A 3,359-SF home in The Arbors neighborhood of west Little Rock's Chenal Valley development changed hands in a $511,000 sale.

Marin Gunaca acquired the house from John and Dolores McNeill.

The residence previously was tied to a March 2008 mortgage of $125,000 from Little Rock's Bank of the Ozarks.

It also helped secure a July 2009 mortgage of $766,176 held by Riverside Bank.

The McNeills bought the property for $566,000 more than four years ago from Martinez & Associates Inc., led by J. Matilde Martinez.


Nursing Home Expansion

A 10-bed expansion of a Sherwood nursing center is in motion with a $3.1 million funding agreement.

Sherwood Nursing Center Inc., led by Michael Morton, obtained the 15-year loan from National Bank of Salisaw (Okla.).

The 3.35-acre Sherwood Nursing & Rehabilitation Center development at 245 Indian Bay Drive previously was linked with a May 2002 mortgage of $2.46 million held by the bank.

The 88-bed former Westlake Living Center was purchased for $2.63 million in May 2002 from Sherwood Living Center Partnership, led by David McCollister.

An adjoining 0.98-acre parcel was added in a December 2010 transaction of $390,000 with Garrett & Garrett Inc., led by Thomas Garrett.



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