Evergreen Place Deal Totals Nearly $1.4 Million (Real Deals)

by George Waldon  on Monday, Oct. 8, 2012 12:00 am  

A 50 percent stake in a midtown Little Rock office building shifted ownership in a $1.39 million sale.

Rector Phillips Morse Inc. of Little Rock acquired half of the 56,165-SF Evergreen Place project at 1100 N. University Ave.

The sellers were RPM Realty Fund, led by Pete Hornibrook, 42.5 percent for $1.32 million; and Tait Family Ltd., led by Diane Tait, 7.5 percent for $67,000.

The 4.28-acre development was purchased for $2.17 million in September 1982 from Prudential Insurance Co. of America in Newark, N.J.


Westside Acquisition

Redevelopment of Little Rock's Westside YMCA is following a $1.3 million transaction.

Arkansas Sports Medicine LLC, led by Drs. James Tucker Jr. and Eric Gordon, bought the project at 4701 Sam Peck Road from the Young Men's Christian Association of Metropolitan Little Rock.

The deal is financed with five-year loans of $1.1 million and $260,000 from Summit Bank of Arkadelphia.

The 1.8-acre property previously was linked with a January 2004 mortgage of $125,000 held by Twin City Bank of North Little Rock.

The 5.4-acre property was given to the YMCA in June 1975 as part of an 8.4-acre gift from Little Rock Sports Association.

The LRSA partners included William Humphries Jr., and his wife, Sarah, Charles Patterson Jr., and his wife, Lea, Michael and Sandra Keeran, Glenn and Jane Schultz, Sam and Sandra Beavers, J.T. and Hazel Laman and John and Mary Brooks. 




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