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.

Newoods Funding

Two industrial properties in Little Rock were used to help secure a $5 million financial package.

Newoods Inc., led by James Corbitt, received the five-year loan from Delta Trust & Bank of Little Rock.

The 0.96-acre development at 3116 S. Adams St. and the 12.77-acre Arkhola Block Plant development previously were linked with an August 2012 mortgage of $5.2 million held by the bank.

The properties were acquired eight months ago as part of a $5.4 million deal with Ready Mix USA LLC of Houston, Texas.

Pharmasite Mortgage

A Little Rock enterprise picked up a $2.2 million funding agreement.

Pharmasite LLC, led by James McCarley Jr. and Lynn McCarley, obtained the five-year loan from Regions Bank of Birmingham, Ala.

The 1.02-acre Cantrell Drug Co. development previously was tied to three mortgages held by the bank: two July 2009 loans totaling $2.25 million and an April 2012 loan of $300,000.

Pharmasite bought the former luxury car dealership for $1.5 million in July 2009 from Larock Properties LLC, led by Lee Owens.



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