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.

The deal is financed with a three-year loan of $700,000 from Union Bank & Trust of Monticello.

The 0.64-acre development previously was linked with an October 2007 mortgage of $522,000 held by One Bank & Trust of Little Rock.

The property was bought for $595,000 more than five years ago from the James & M. Dolois Younts Trust No. 1.

Country Club Land

A nearly 24.5-acre residential tract in Maumelle sold for $650,000.

CC21 LLC, led by Jeff Fuller and Arby Smith, acquired the land near the southwest corner of Country Club Parkway and Vienne Place. The seller is Country Club Development LLC, led by John Wright and Jack Wilson.

The deal is funded with a 17-month loan of $1.2 million from Little Rock’s Bank of the Ozarks.

The property previously helped se-cure a January 2003 mortgage of $1 million held by the bank.

Country Club Development purchased the land in October 2002 as part of a $1.1 million deal with the city of Maumelle.

Riggs Property

A 27.7-acre tract in North Little Rock shifted ownership in a $577,000 transaction.

J.A. Riggs Tractor Co. bought the land at the southeast corner of Faulkner Lake Road and Industry Drive from John A. Riggs III, trustee.

The property was acquired as part of an $842,000 deal in April 1995.

The sellers were the estate of Herschel Friday, William and Mary Lou Cravens, the Boyce Love Testamentary Trust, William and Peggy Sutton, William and Elizabeth Terry, William and Kay Patton and the Oaklawn Jockey Club Inc., led by Charles Cella.

Warehouse Sale

A 46,280-SF warehouse in southwest Little Rock drew a $300,000 sale.

Kurios Investor Holdings LLC, led by Dru Phillips and Roger Tucker, purchased the 5207 Scott Hamilton Drive project. The seller is Capital Properties LLC, led by Gus Blass III.

The deal is backed with a five-year loan of $270,000 from Capital Properties.

The 4.22-acre development was bought for $600,000 in August 1980 from Bill Brandon.

Riverside Home

An 8,500-SF house in the Two Harbors neighborhood on the edge of Little Rock is under new ownership after a $653,000 deal.

Zammarud and Nadeem Siddique acquired the house from M&T Bank of Buffalo, N.Y. The deal is financed with a one-year loan of $500,000 from First Security Bank of Searcy.

The bank recovered the residence from Anthony Bickerstaff at a $911,247 foreclosure sale in April 2012. The property was secured by a $986,250 mortgage held by an M&T subsidiary.

The location on the Arkansas River was purchased for $225,000 in April 2006 from Bottom Line Inc., led by Charles Hinson.

Hickory Pointe House

A 3,842-SF home in west Little Rock’s Hickory Pointe neighborhood changed hands in a $579,000 deal.

Doug and Bobbie Beard bought the house from William and Virginia Cawthon.

The residence previously was tied to a January 2009 mortgage of $349,000 held by Pulaski Mortgage Co. of Little Rock.

The property was acquired for $565,000 in June 2006 from Darin and Christine Hicks.

Maisons Abode

A 4,342-SF home in The Maisons neighborhood of west Little Rock’s Chenal Valley development rang up a $528,000 sale.

Kami and Michael Perkins purchased the house from Christopher and Lisa Byrd. The deal is funded with a 30-year loan of $417,000 from IberiaBank Mortgage Co. of Little Rock.

The residence previously was linked with a February 2012 mortgage of $416,000 held by Bank of Little Rock Mortgage Corp.

The property was bought for $550,000 in December 2006 from Lewis Homebuilders Inc., led by Jon Lewis.

Dealer Financing

A west Little Rock auto dealership is backed with a $9.6 million funding agreement.

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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