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.

The 0.52-acre development previously was tied to a June 1995 mortgage of $339,626 held by National Bank of Arkansas in North Little Rock.

The site was acquired for $130,000 in February 1994 from Nutt Enterprises Inc., led by John Nutt.

Warehouse Sale

A 143,000-SF warehouse facility in east Little Rock drew a $300,000 transaction. Davis Rubber Co., led by Roger Davis, bought the 1800 E. 14th St. project. The seller is Ericson Enterprises Inc., led by Charles Barnett.

The deal is backed with a $351,000 loan from Centennial Bank.

The 7.4-acre development was purchased for $419,237 in December 1986 from Twin City Bank of North Little Rock.

Arbors Home

A 4,424-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development changed hands in an $825,000 deal.

Kimber and Kimberly Stout acquired the house from Marilyn and Gary Heathcott. The residence previously was linked with an October 2006 mortgage of $520,000 and a June 2008 mortgage of $227,000 held by Merrill Lynch Credit Corp. of Jacksonville, Fla.

The property was bought for $210,000 in April 2005 from Parkinson Building Group, led by William Parkinson.

Bretagne Buy

A 4,550-SF home in the Bretagne Circle neighborhood of west Little Rock’s Chenal Valley development sold for $675,000. Mark and Krista Storey purchased the house from James and Terry Barnes.

The deal is financed with a 30-year loan of $540,000 from Wells Fargo Bank of Sioux Falls, S.D. The property was acquired for $760,000 in May 2003 from Charles and Janet Garland.

Green Mortgage

A 21,000-SF office building in downtown Little Rock is helping secure a $3.7 million funding agreement. Gary L. Green obtained the one-year loan of $2.3 million and 10-year loan of $1.4 million from Regions Bank of Birmingham, Ala.

The 1.6-acre law office development at 1001 La Harpe Blvd. previously was tied to a December 2010 financial package of $3.2 million from Delta Trust & Bank of Little Rock.

The location was bought for $708,000 in April 2000 from the Fred S. Balch & Memory B. Balch Irrevocable Trust.



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