Pavilion in the Park Sells for $4.2 Million (Real Deals)

by George Waldon  on Monday, Jul. 23, 2012 12:00 am  

The property was acquired at a $2 million foreclosure sale in May 2008. The transaction followed a $5.7 million judgment two months earlier against Southwest Nursing Homes Inc., led by Stafford Kees.


Comfort Funding

The owner of a 108-room hotel near the Little Rock National Airport picked up a $2.5 million financial package.

Airport Lodging LLC, led by Naresh Patel, got the six-year loan from Malvern National Bank.

The 2.5-acre Comfort Inn & Suites development at 4301 E. Roosevelt Road previously was tied to an August 2006 mortgage of $3.04 million and an April 2010 mortgage of $250,000 held by Summit Bank of Arkadelphia.

The project was bought for $3.8 million in August 2006 from Little Rock Airport Lodging Associates LLP, led by Nayna Patel.


Industrial Refinance

Two industrial properties in North Little Rock were used to secure a $2.3 million funding agreement.

Haas Properties LLC, led by David and Darla Haas, obtained the loan from U.S. Bank of Cincinnati.

Haas Commercial Center previously was linked with two May 2005 mortgages totaling $2.5 million and an August 2008 mortgage of $500,000 held by BancorpSouth Bank of Tupelo, Miss.

The buildings at 25 and 29 Collins Industrial Place have 72,800 SF under roof, according to real estate records.

The two 3.05-acre sites were purchased for $40,000 each in deals with the estate of Avanelle Rogers in June 1999 and the estate of Anna Beth Nansen and Mary Sutton in December 1999.



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