Woodbridge Complex Sells for $2.1 Million (Real Deals)

by Arkansas Business Staff  on Monday, Jun. 24, 2013 12:00 am  

Trinity Village at 1600 John Barrow Road.  (Photo by Mauren Kennedy)

A 156-unit apartment complex in Little Rock tipped the scales at $2.1 million.

N-Vest LLC, led by Anthony Brooks, bought Trinity Village Apartments at 1600 John Barrow Road from Woodbridge/Pulaski Ltd. of Monroe, La.

The deal is financed with a one-year loan of $1.9 million from Capital Bank of Little Rock.

The 9.98-acre development was purchased for $2.25 million in May 1997 from Creekwood Apartment Co., led by Dickson Flake and Sam Anderson.

Hotel Site

Development of a Home2 Suites by Hilton project in west Little Rock is in motion after a $1.09 million sale.

Shackleford Crossing Properties LLC, led by Jack Grundfest, acquired the 1.7-acre location on Shackleford Road at the southern-most entryway to the Shackleford Crossings project.

The seller is Shackleford Crossings Investors LLC of Dallas.

The property previously was used to help secure a December 2011 mortgage of $33.7 million held by Guggenheim Life & Annuity Co. of Indianapolis.

Shackleford Crossings Investors en-tered the ownership picture in July 2011 at a $42 million foreclosure sale after buying the project debt in May 2011 for an undisclosed sum.

The deal included the 271,675-SF Shackleford Crossings lifestyle center and undeveloped outparcels totaling about 8.7 acres that were used to secure debt of $57.4 million held by the project’s construction lender, M&I Marshall & Ilsley Bank of Milwaukee.

Office Transaction

 

 

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