Asbury Park Complex Sells for $3.2 Million (Real Deals)

by George Waldon  on Monday, Feb. 11, 2013 12:00 am  

Asbury Park Apartments are undergoing a facelift after new ownership acquired the 106-unit complex at 8500 Keller Drive in Little Rock. (Photo by Jason Burt)

The residence previously was tied to a February 2007 mortgage of $596,000 held by Riverside Mortgage Co. of Little Rock and a March 2007 mortgage of $104,000 held by Citibank of Sioux Falls, S.D. The property was bought for $680,000 in June 2005 from John and Deborah Rees.

Infiniti Funding

A west Little Rock auto dealership is backed with a $5 million funding agreement. ACE-H LLC, led by Anna Catherine Ellis-Hendrix, obtained the loan from Bank of America in Charlotte, N.C.

The Ellis Infiniti project at 15 Colonel Glenn Plaza Drive was backed with a March 2012 loan of $4.12 million from Wells Fargo Bank of Sioux Falls, S.D.

The 2.81-acre site was purchased for $1.38 million in June 2010 from Asbury Automotive Arkansas LLC of Duluth, Ga.

Foothills Financing

A 300-unit piece of the Foothills Apartments project in North Little Rock was refinanced with a $21.9 million mortgage.

Foothills Apartments III LLC, led by James P. Matthews, received the loan from Greystone Funding Corp. of Warrenton, Va.

The 24.66-acre property at 2401 Lakeview Road previously was linked with a January 2005 mortgage of $21.9 million held by Reilly Mortgage Group Inc. of McLean, Va.

The Matthews family assembled the land as part of eight transactions totaling more than $258,000.

The sellers were Fred and Katherine Watkins, $250,000 in August 1959; M.H. and Vesta Bland, $6,000 in November 1959; H.E. and Capitola Gibbs, $1,590 in April 1924; the state of Arkansas, $315 in April 1937; and Pulaski County Clerk, $274.

Rounding out the list are three deals of undisclosed value: Frank Wielgosz and Michael Lukaszewicz, both in July 1968; and Hedwig D’Argonne, in August 1968.

Million-Dollar Construction

Bass Pro Shop    
1 Bass Pro Drive, Little Rock
VCC LLC, Little Rock

10,000-SF House    
10 E. Palisades Drive, Little Rock
Fred Lord Builder Inc., Little Rock

6,500-SF House    
6 Spring Valley Lane, Little Rock
Kevin Hughes Construction Co., Little Rock

Landers Toyota Service Center    
5000 Commercial Center Drive, Little Rock
Kinco Constructors LLC, Little Rock



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