Auto Dealership Property Draws $2.4 Million Sale (Real Deals)

by George Waldon  on Monday, Sep. 3, 2012 12:00 am  

A greenery enterprise in Little Rock and related properties are backing a $2.46 million mortgage. Paul Allen Smith Jr., above, and his Smithfield Properties LLLP got the loan from Centennial Bank of Conway.

Bryan and Sarah Renshaw acquired the house from the Allen W. Jenkins & Karene C. Jenkins Living Revocable Trust.

The trust provided a $475,000 mortgage to finance the deal. The property was purchased for $400,000 in September 2007 from the namesake revocable trusts of Paul and Cathy Leonard. 

Downtown Renovation

Renovation of a 45,528-SF office building in downtown Little Rock is in motion with a $6.9 million funding agreement.

Five Main LLC, led by Warren Stephens, obtained the 12-year loan from IberiaBank. The property, Five Main Place at 423 Main St., was bought for $318,000 in November 1978 from Phillip and Alice Back.

The rest of the 0.91-acre property used to secure the IberiaBank loan was acquired in deals totaling $535,000.

The sellers were:

  • C-S-B Partnership I, led by James Conner; Janet Keith Vinsonhaler; Mary Peirce Keith and Delrena Keith Conner, $100,000 in January 1982.
  • Tyrone Banderet, $175,000 in January 2002.
  • Raymond L. Rodgers Living Trust, $150,000 in August 2001.
  • Music Box U.S.A. Inc., led by Doug Wood, $110,000 in April 2001.

Gateway Funding

The owner of a retail/ministorage development in North Little Rock secured a $3.08 million financial package.

Richmarc Development LLC, led by Marc Yelenich and Keith Richardson, received the eight-year loan from IberiaBank.

The 24,500-SF Gateway Plaza at 9800 Maumelle Blvd. and the 6-acre Gateway Ministorage at 7101-02 Vestal Court were tied to a June 2007 mortgage of $2.8 million held by Community Bank of Cabot.

The property was assembled as part of buys from the Vestal Family Charitable Remainder Unitrust: $271,000 in June 2001 and $336,000 in February 2004.

 

 

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