LaFrance Property Trio Valued at $6.9M (Real Deals)

by George Waldon  on Monday, Jan. 14, 2013 12:00 am  

A 33,214-SF retail building in Maumelle sold for $1.05 million.

DT Real Estate LLC, led by Edwin Dalton and Rory Thompson, purchased the former Kroger at 101 Commerce Drive. The seller is 101 Commerce Drive LLC of Wilmington, Del.

The deal is financed with an 18-month loan of $2.64 million from First Service Bank of Greenbrier.

The limited liability company ac-quired the 6.5-acre development for a reported $1.65 million in September from Kroger Limited Partnership I, an affiliate of the Cincinnati-based grocery chain.

KLP bought the project for $3 million in March 2001 from TFJ Nominee Trust, led by Thomas F. James, and added 1.8 acres in a $160,000 deal with Gene and Linda Pfeifer in July 2002.

Orle Residence

A 4,187-SF home in the Orle neighborhood of west Little Rock’s Chenal Valley development changed hands in a $700,000 deal. Teresa and Dwight Stewart acquired the house from Rick and Karen Coker.

The deal is funded with a 15-year loan of $417,000 and a 30-year loan of $143,000 from Regions Bank of Birmingham, Ala.

The residence previously was tied to an April 2009 mortgage of $360,000 held by Summit Bank of Arkadelphia. The location was purchased for $122,000 in December 2006 from Deltic Timber Corp. of El Dorado.

River Ridge Home

A 3,434-SF home in Little Rock’s River Ridge Pointe neighborhood rang up a $515,000 sale. Sherry Courtney bought the house from Bek and Teri Kaiser.

The deal is backed with a 30-year loan of $412,000 from Bank of Little Rock Mortgage Corp. and a five-year loan of $51,500 from Bank of Little Rock.



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