Fuel Facility Draws $18.9 Million Sale (Real Deals)

by George Waldon  on Monday, Jun. 3, 2013 12:00 am  

A fuel storage facility in North Little Rock changed hands in an $18.9 million transaction.

JP Energy ATT LLC of Irving, Texas, bought the 28.4-acre development at 2207 Central Airport Road from Arkansas Terminaling & Trading Inc., led by Greg Arnold.

The project is used to help secure a two-year loan of $200 million from Wells Fargo Bank of Sioux Falls, S.D.

The property was assembled largely through two deals totaling $615,000. The sellers were Mobil Oil Corp. of New York, $65,000 in March 1979; and Thomas Family Revocable Trust, led by Dayton and Edna Thomas, $550,000 in June 2003.

Foreclosure Purchase

A 7,200-SF warehouse in North Little Rock is under new ownership after a $327,500 foreclosure sale. RHV LLC, led by Ken Calhoon, purchased the 14514 MacArthur Drive project.

The 4-acre development was tied to a February 2006 mortgage of $668,800 held by Arvest Bank of Fayetteville.

That debt was owed by A-1 Recovery Inc., led by Terry and Lorene Wyatt. A-1 bought the location for $45,000 in April 2001 from Lorraine Gammel.

Multifamily Land

Apartment land in Little Rock rang up a $265,000 transaction.

Richardson Investment Irrevocable Trust, led by Keith Richardson, acquired the 7.95-acre parcel on the east side of Caulden Drive.

The sellers are Harley Cox Jr. and his wife, Joanne.

The property was assembled in March 1984 as part of deals with John Toney Sr. and his wife, Mary, $232,000; Barbara Jean Caldwell, $40,000; and Minnie Hocutt Shive, $36,000.

Chenal Downs Home

A 6,600-SF home in the Chenal Downs neighborhood of west Little Rock tipped the scales at $1.1 million.

Christopher Flake bought the house from Charles and Cindy Harper.

The deal is financed with a 30-year loan of $912,000 from U.S. Bank of Cincinnati.

The residence previously was linked with a December 2010 mortgage of $979,500 held by Wells Fargo Bank of Sioux Falls, S.D.

The location was acquired for $198,000 in February 2006 from Gary and Heike Talbert.

Oaks Residence

A 3,956-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley neighborhood sold for $512,000.

Adil Imran and Huma Sheikh purchased the house from Randy James Construction Co.

The deal is financed with a 30-year loan of $409,600 and a 25-year loan of $51,200 from U.S. Bank of Cincinnati.

The residence was bought for $500,000 in March 2012 from Byron and Shelley Rogers.

Terminal Funding

A North Little Rock distribution terminal was used to help secure a $250 million financial package.

NGL Supply Terminal Co. LLC of Tulsa obtained the 10-year loan from Deutsche Bank Trust Co. Americas of New York.

The 5.8-acre property was acquired in December 2003 as part of a $1.5 million transaction.

The seller was Gas Supply LLC, a subsidiary of publicly traded Williams Cos. Inc. of Tulsa.

Williams purchased the property in March 1998 as part of a $3.1 billion stock swap for Mapco Inc. of Tulsa.

Business Park Loan

A commercial project in west Little Rock is backed with a $3.7 million funding agreement.

Bowman Business Park LLC, led by Max Davis, received the eight-year loan from BancorpSouth Bank of Tupelo, Miss.

The 9.7-acre development at 1515 S. Bowman Road previously was tied to a January 2008 mortgage of $4 million held by the bank.

The location was bought for $175,000 in July 1994 from the estate of Minnie Moser.

 

 

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