Custom Aircraft Cabinets Buys New $3.7M Home (Real Deals)

by George Waldon  on Monday, Nov. 19, 2012 12:00 am  

Mike Gueringer, left, and Paul Reesnes, co-owners of Custom Aircraft Cabinets, are relocating their North Little Rock enterprise into redeveloped retail space in Sherwood.  (Photo by Jason Burt)

The deal is financed with a 30-year loan of $556,700 from Morgan Stanley Private Bank of Mount Laurel, N.J.

The property was bought for $32,000 in August 1975 from Ed and Ann Willis.

Workforce Mortgage

The owner of a 57,000-SF office project in south Little Rock landed a $3.5 million funding agreement.

Steward & Young Inc., led by Everett Young Jr., received the five-year loan from Arvest Bank.

The 4.26-acre Arkansas Workforce Centers development at 5401 S. Uni-versity Ave. previously was tied to an August 2009 mortgage of $3 million and an October 2011 mortgage of $500,000.

Both loans were from Citizens Bank & Trust of Van Buren.

The property was assembled in four buys totaling $1.28 million.

The sellers were Union Rescue Mission Inc., led by William Tollett, $1.1 million in October 2008; Metropolitan National Bank of Little Rock, $162,000 in December 2008; Hazel Blakeley and Mabel Thiede, $14,000 in May 2009; and Ronnie and Karen Tyler, $6,000 in March 2009.

Rock Plaza Loan

A 22,036-SF retail center in Little Rock is securing a $2.21 million financial package.

MGY LLC, led by Marc Yelenich, obtained the loan from Centennial Bank of Conway.

The 2.69-acre Rock Plaza development at 2000 S. University Ave. previously was linked with a March 2012 mortgage of $2.08 million held by IberiaBank of Lafayette, La.

The property was acquired for $681,000 in April 2003 from Arthur Connerly III and his wife, Nancy, and James and Martha Milby.



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