NLR Congregation Looks South to Grow (Real Deals)

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NLR Congregation Looks South to Grow (Real Deals)

by George Waldon on Monday, Feb. 25, 2013 12:00 am

Mulligan’s Golf was among the properties assembled by First Pentecostal Church of Jesus Christ, whose steeple is visible in the distance. (Photo by Jason Burt)

A 5,511-SF home near the Country Club of Little Rock drew a $900,000 transaction.

Jason D. Smith bought the house from Michael and Susan Prince. The deal is funded with a 30-year loan of $776,000 from Bank of Little Rock Mortgage Corp.

The residence previously was tied to a January 2008 mortgage of $800,000 held by Bank of America in Charlotte, N.C.

The Princes acquired the property for $1 million five years ago from Ray and Caroline Bell.

Country Club House II

A tear-down redevelopment is under way after adjoining homes near the Country Club of Little Rock sold in a $745,000 package deal.

Nick and Holly Willis purchased the houses from Burlingame Investments Ltd., led by Charles Lowry Barnes and his wife, Tanya.

Construction is financed with a $1.42 million loan from First Security Bank of Searcy.

The Barnes family bought the properties in two deals totaling $626,000. The sellers were Gary and Ellen Morphew, $334,000 in November 2007; and David and Natasha Graf, $289,000 in December 2002.

Country Club House III

A 3,158-SF home near the Country Club of Little Rock changed hands in a $608,333 transaction.

W. Walker Sloan and his wife, Julie, acquired the house from Susan and George Wilson. The deal is backed with a 30-year loan of $349,000 from Bank of Little Rock Mortgage Corp.