Kum & Go Stores Still Attracting Seven-digit Sales (Real Deals)

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

A North Little Rock convenience store rang up a $3 million transaction. BBR Oil IV LLC, led by David Barker of Iowa City, Iowa, bought the Kum & Go project at 8801 Maumelle Blvd. The seller is KG Store 153 LLC of West Des Moines, Iowa.

The deal is financed with a $2.25 million loan from Mid-Missouri Bank of Springfield, Mo. The 1.83-acre development previously was linked with a September 2012 mortgage of $2.4 million held by First National Bank of Omaha, Neb.

The property was purchased for $920,000 in July 2012 from Keltner Properties Corp., led by Ronald Keltner.

Wild Transaction

The sale of North Little Rock’s Wild River Country was valued at $2 million.

Aquapark Holdings LLC, led by Morton Fishman of Riviera Beach, Fla., and Michael Slattery of Toronto, acquired the 29.38-acre water theme park at 6820 Crystal Hill Road.

The sellers were Halcyon Attractions Corp. of Toronto and Halcyon Attractions of Arkansas LLC, both led by Hugh Hall.

The project now secures five pieces of debt: a two-year loan of $2.2 million and mortgages of $250,000 and $11,200 held by Centennial Bank of Conway, a $2 million mortgage held by Merk Investments Ltd. of Mississauga, Ontario and a $1.18 million mortgage held by Merk Mortgages Inc..

The financing represents a reworking of long-running project debt.

Halcyon bought the property for $500,000 in April 1999 from Wild River Country Ltd., led by James Griffiths.

Progressive Purchase

A 4,256-SF office building in North Little Rock rang up a $550,000 deal. Progressive Eye Center & Boutique LLP, led by Jerry Ellis, purchased the 2520 Crestwood Road project from Ronald and Debra Boyles. The deal is funded with a five-year loan of $440,000 from IberiaBank of Lafayette, La.



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