Midtown Medical Office Draws $1.8 Million Sale (Real Deals)

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Midtown Medical Office Draws $1.8 Million Sale (Real Deals)

by George Waldon on Monday, Feb. 18, 2013 12:00 am

Fresenius Medical Care set up a new dialysis clinic at 5320 W. 12th St. after the Little Rock property changed hands in a seven-digit transaction. (Photo by Jason Burt)

A 6,300-SF medical office building in midtown Little Rock tipped the scales at $1.87 million.

Brauvin Net Lease LLC of Chicago acquired the former Internal Medicine Clinic at 5320 W. 12th St. from Southeast Medical Little Rock LLC of Birmingham, Ala.

The 0.87-acre development previously was tied to a March 2012 mortgage of $1.23 million held by Renasant Bank of Tupelo, Miss.

Southeast Medical purchased the property for $695,000 in September 2011 from Fair Park Medical PLLC, led by Dr. Carl Johnson.

Northwood Parcel

A 20-acre commercial tract in North Little Rock changed hands in a $1.16 million deal.

Northwood Creek LLC, led by David Haas, Steven Molpus, Steven Pascoe and Roy Yelenich, bought the land at the southwest corner of Counts Massie Road and Fitzgerald Lane. The seller is JKGS LLC, led by Karen Greenfield.

The deal is backed with a five-year loan of $1.2 million from Eagle Bank & Trust of Little Rock.

The property was acquired in July 2001 as part of a $320,000 deal with Lee and Martha Kierre.

Complex Transaction

A 14-unit apartment project in Little Rock rang up an $830,000 sale.

TMH Properties-S Street LLC, led by Ted and Rebecca Hammett, purchased the project at 7718 S St. The seller is S Street Apartments LLC, led by Rob Parker and Eric McDuffie.