Metropolitan Bank Branch Sale Closes at $1.7 Million (Real Deals)

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

A bank branch leased to Metropolitan National Bank in the Heights area of Little Rock shifted ownership in a transaction valued at $1.7 million.

WBL LLC, led by Walter Quinn, purchased the branch at 5500 Kavanaugh Blvd. from Heartland Community Bank of Bryant, where Quinn is the leading stockholder.

The deal is financed with a five-year loan of $1.36 million from Malvern National Bank. The project previously was tied to a March 2006 mortgage of $210,000 held by Allied Bank of Mulberry.

The 0.3-acre site was assembled in two buys totaling $631,000. The sellers were Greer Lile, $300,000 in June 2001, and Susan Fuller, $331,000 in January 1992.

TRL Acquisition

A 14.13-acre commercial site in east North Little Rock changed hands in a $450,000 deal.

TRL Properties LLC, led by Todd Havens, Richard Vassar and Richard L. Vassar Jr., bought land adjoining its Barloworld Truck Center at 11700 Valentine Road.

The seller is Valentine Trust, representing the heirs of Margaret Valentine. The Valentine family owned the land for more than 91 years.

Speed Transaction

A 5,000-SF commercial project in southwest Little Rock sold for $255,000.

Elmer and Hector Giron acquired Steve’s Speed Shop location at 7301 Geyer Springs Road from its namesake corporation, led by Steve Haynes.

The deal is backed with a five-year loan of $205,000 from Bank of Little Rock.

 

 

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