Eastside Lofts Attracts $900,000 Sale (Real Deals)

by George Waldon  on Monday, May. 27, 2013 12:00 am  

A 41-unit apartment project in downtown Little Rock is under new ownership after a $900,000 sale.

Mark Brown and Jill Judy bought Eastside Lofts at 1401 Scott St. from Quality Properties Asset Management Co., an affiliate of Bank of America in Charlotte, N.C.

The deal is financed with a five-year loan of $765,000 from Central Bank of Little Rock.

Quality Properties recovered the 1.24-acre development in October 2012 at a $547,662 foreclosure sale. The project previously was tied to a January 2010 mortgage of $1.15 million held by Bank of America.

The previous owner was Eastside High School Ltd., led by Steven Hitt.

Peerless Property

A piece of downtown Little Rock changed hands in a $363,000 transaction.

Terraforma LLC, led by David Bruning and Doug Meyer, acquired the 26,768-SF Peerless Engraving building at 823 Main St.

The sellers are Sam Bracy III and his wife, Luana.

The property was bought for $330,000 in November 1981 from R.H. Matson Jr.

Prospect Terrace Home

A 4,950-SF home in Little Rock’s Prospect Terrace neighborhood rang up a $650,000 sale.



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