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

A 15,478-SF office building in downtown Little Rock changed hands in a $620,000 transaction.

801 Louisiana LLC, led by Kevin Huchingson, purchased the 801 Louisiana St. project. The seller is Christy Properties LLC, led by Chris Christy.

The deal is funded with a 66-month loan of $639,750 from First Federal Bank of Harrison.

The 0.32-acre development was ac-quired for $460,000 in May 2006 from Jack and Julianna Dickerson.

Health Buy

A North Little Rock commercial property rang up a $480,000 sale.

Arkansas Health Group, an affiliate of Little Rock’s Baptist Health, bought the 5209 E. Broadway project. The seller is Gingerbread Properties LLC, led by Norman and Linda Pledger.

The 1.29-acre development previously was tied to an August 2006 mortgage of $433,837 held by BancorpSouth Bank of Tupelo, Miss.

The property was purchased for $429,000 nearly seven years ago from St. Vincent Community Health Services Inc., led by Stephen Mansfield.

Beck Acquisition

A 3.2-acre parcel in west Little Rock drew a $322,000 transaction.

Barry Beck Properties LLC acquired the land on the west side of Lawson Road at Crystal Valley Road from the Pulaski County Baptist Association.

The association bought the land for $30,000 in January 1997 from Crystal Hill Baptist Church.

Providence Purchase

A vacant filling station near the state Capitol sold for $240,000.

Providence Properties LLC, led by James Bryant, purchased the 1600 W. Third St. project from Jay Green.

The deal is backed with a $190,000 loan from Centennial Bank of Conway.

Green acquired the 0.36-acre former gas station development from Humble Oil & Refining Co., the predecessor to Exxon Corp.

Prospect Home

A 6,050-SF home in Little Rock’s Prospect Terrace neighborhood tipped the scales at $1 million.

Blake and Becky Price bought the house from Philip and Gina Tappan.

The residence was purchased for $895,000 in September 1998 from Mark and Leslie Lee.

Riverbend House

A 4,868-SF home in Little Rock’s Riverbend neighborhood is under new ownership after a $950,000 sale.

Mac and Dorothy Woodward acquired the house from the Charles Robert Sherman Revocable Trust. The deal is financed with a 10-month loan of $1.3 million from Bank of Little Rock.

The residence previously was linked with a September 2012 mortgage of $250,000 held by Regions Bank of Birmingham, Ala.

The property was bought for $930,000 in August 2000 from Roy Turner Jr. and his wife, Betty.

Estates Sale

A 4,378-SF house in the Ridgefield Estates neighborhood changed hands in a $602,000 transaction.

Don and Kimberly Fowler purchased the house from Rex and Jane Bell.

The deal is funded with a 30-year loan of $417,000 and a five-year loan of $64,000 from IberiaBank Mortgage Co. of Little Rock.

The property previously was tied to a September 2003 loan of $400,000 from Merrill Lynch Bank USA of Salt Lake City.

The Bells assembled the 10-acre residential spread in two deals totaling $355,000. The house was bought for $300,000 in June 1993 from Randal and Dana McLemore, and an adjoining 5-acre lot was acquired for $55,000 in August 1993 from Ridgefield Estates Inc., led by Larry Kuca.

Marriott Mortgage

The leaseholders on the downtown Little Rock Marriott Hotel property picked up a $20 million funding agreement.

FWH II Little Rock LLC of Memphis, an affiliate of Fairwood Capital, obtained the five-year loan of

$15 million and one-year letter of credit for $5 million from Magna Bank of Memphis.

The former Peabody-Excelsior Hotel site at 3 Statehouse Plaza was assembled in transactions totaling more than $1.5 million.

The sellers were Marion Hotel Garage Co., led by H.J. Burford, $705,000 in June 1979; Harold and Maudie Huntsman, Huntsman Enterprises Inc., T.H.E. Co. and Huntsman Farms Inc., all led by Harold and Ralph Huntsman, $480,000 in April 1980; Southwest Hotels Inc., led by H.J. Burford, $375,000 in April 1980; Breier’s Inc., led by Matthews Breier, and Bernice Martin, undisclosed sums in December 1963 and October 1964.

Plastics Funding

The owner of a 120,000-SF plant in the Little Rock Port landed a $10 million financial package.

Delta Plastics of the South LLC, led by Dhu and Mary Thompson, received the loan from Fifth Third Bank of Cincinnati.

The 21.4-acre development at 8801 Frazier Pike previously was tied to a March 2010 mortgage of $8.38 million held by IberiaBank of Lafayette, La.

The property was bought for $3.3 million in May 2009 from Deceuninck North America LLC of Monroe, Ohio.

Clean Loan

A west Little Rock car wash project was used to help secure a $9.5 million mortgage.

GDR Partners LLC, led by John Bailey, got the seven-year loan from First Guaranty Bank of Benton, La.

The 0.82-acre Boomerang development at 2702 S. Shackleford Road previously was linked with a March 2012 mortgage of $300,000 held by Malvern National Bank.

The site was acquired for $670,000 in May 2011 from Shackleford Crossings LLC, formerly led by Steve Clary.

Seven-Digit Construction

Catholic High Phase 2 Improvements           
6300 Father Tribou St., Little Rock
Nabholz Construction Corp., Conway

Falcon Jet Expansion       
3801 E. 10th St., Little Rock
D&N Construction LLC, Vilonia

King Solomon Baptist Church New Sanctuary                                   
1304 Pine St., North Little Rock
Moser Construction LLC, Bryant



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