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)

Landers Land Company 3 LLC, led by Steve Landers, obtained the five-year loan from Toyota Motor Credit Corp. of Torrance, Calif.

The 19.2-acre Landers Toyota development at 10825 Col. Glenn Road was assembled in two deals with Leonard Boen-led entities totaling $5.76 million.

The sellers were Boen Enterprises LLC, $3.38 million in March 2004; and Colonel Glenn Centre LLC, $2.38 million in June 2010.

The project also was tied to July 2009 loans of $9.9 million and $4.4 million and a June 2010 loan of $3.5 million from Toyota Motor Credit.

Manor Mortgage

Construction of a 75-unit assisted living facility in west Little Rock is in motion with a $6.6 million financial package.

The Manor LLC, led by Arby Smith, received the four-year loan from Arvest Bank of Fayetteville.

The 7.1-acre site at 1401 Labelle Drive was acquired for $275,000 in June 2012 from the bank. The property was part of land platted for 44 residential lots that secured an April 2005 mortgage of $2.1 million held by Arvest.

The bank recovered the property in July 2010 as part of a $1.85 million foreclosure sale. The previous owner was Kanis Village LLC, composed of Eric and Toni McDuffie, Michael and Carey Hill and Joseph Blankenship.

Seven-Digit Construction

16001 Chenal Parkway, Little Rock
Parkway Construction & Associates, Lewisville, Texas

5,600-SF House
15 Adkins Court, Little Rock
Jack Hartsell Construction Co., Little Rock

Terminal Mechanical Project
1 Airport Road, Little Rock
Parsons Transportation Group Inc., Washington, D.C.



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