Goodwill Purchase Tops $1.6 Million (Real Deals)

by George Waldon  on Monday, Oct. 1, 2012 12:00 am  

A 14-unit apartment project in downtown Little Rock rang up a $510,000 deal.

Karcher Capital LLC, led by Hamlin Au, acquired the 503 E. Seventh St. project. The seller is D. Taylor Investment Properties LLC, led by Deborah Taylor.

The deal is backed with five-year loans of $382,500 from Wells Fargo Bank of Sioux Falls, S.D., and $25,000 from the seller.

The 0.39-acre development previously was linked with a February 2008 mortgage of $429,250 held by Little Rock's Bank of the Ozarks.

The property was purchased for $505,000 more than four years ago from the Ronald Kenneth Young Revocable Trust.

 

Atrium Acquisition

A 12,000-SF office building in downtown Little Rock is under new ownership after a $421,000 sale.

The Greg L. Hatcher Revocable Living Trust bought the Atrium Building at 513 Center St. from 513 Center Street LLC, led by Brian Clark.

The deal is funded with a five-year loan of $420,000 from Arvest Bank of Fayetteville. The 0.09-acre development previously was tied to a November 2005 mortgage of $510,000, a March 2006 mortgage of $24,225 and a December 2009 mortgage of $15,000 held by BancorpSouth Bank of Tupelo, Miss.

The property was acquired for $350,000 in November 2005 from John and Phyllis Kincannon.

 

 

 

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