Hospitality Project Draws $6.42 Million Transaction (Real Deals)

by George Waldon  on Monday, Apr. 22, 2013 12:00 am  

Holiday Inn Express at 7900 Talley Road in west Little Rock.

The bank took possession of the property in June 2010 after it was forfeited in lieu of foreclosure by One Realco Land Holding Inc., led by Ronald Akin.

The land secured a May 2003 mortgage of $1.4 million that was transferred to the bank in June 2003 by Capitol Lakes Management LLC, led by John “Jay” DeHaven.

Ownership of the property shifted from Capitol Lakes in a May 2003 deal valued at $2 million.

NLR Site Sale

A 1.08-acre commercial site in North Little Rock changed hands in a $445,000 sale.

Miguel and Teresa Casillas bought the land at the southwest corner of Smokey Lane and Stockton Drive from Woodcrest Co. LLP, led by James P. Matthews.

The deal is funded with a one-year loan of $445,000 from Southern Bancorp Bank of Arkadelphia.

The land previously helped secure an August 2011 mortgage of $1.8 million held by Malvern National Bank.

The property was part of the 400-acre Springhill Farm the Matthews family purchased in August 1959. John and Martha Matthews purchased it from Fred and Katherine Watkins for $250,000.

Multifamily Sale

A small apartment project in downtown Little Rock rang up a $425,000 transaction.

Scott Street Apartments LLC, led by Jason Bolden, acquired the 2301 Scott St. project. The seller is Scott Street Townhouses LLC, led by Ralph Cotham and Mark Reynolds.



Please read our comments policy before commenting.