Full Counsel Creditors Rework Church Debt (Real Deals)

by George Waldon  on Monday, Jul. 8, 2013 12:00 am  

1800 Maple St. project in North Little Rock recovered by Regions from Joshua Ministries.

Brownlee Construction Consultants LLC, led by Porter Brownlee, bought the 715 Arch St. project from IberiaBank of Lafayette, La.

The deal is financed with a $204,000 loan from Centennial Bank of Conway. Iberia entered the ownership picture in July 2012 through a $189,200 foreclosure sale.

The bank recovered the 0.16-acre development after landing a $253,898 judgment a month earlier against Pinnacle Property Management LLC, led by Michael Love and Trey Stoelzing.

Chenal Downs Abode

A 4,436-SF home in the Chenal Downs neighborhood of west Little Rock sold for $692,000.

Swiftair Living Trust, led by James Gulley, purchased the house from the Rodney Thomason Revocable Trust.

The residence previously was tied to a February 2008 mortgage of $154,600 and a November 2011 mortgage of $398,500 from Metropolitan National Bank.

The 5-acre location was bought for $100,000 in April 2004 from Mark Schlesinger and Walter Ebel III.

Prospect Home

A 4,026-SF house in Little Rock’s Prospect Terrace neighborhood changed hands in a $550,000 sale.

Maurizio and Elda Zangari acquired the house from the Harvey-Wilson Family Trust, led by John and Jennifer Wilson Harvey.

The deal is backed with a 15-year loan of $417,000 from Wells Fargo Bank of Sioux Falls, S.D.



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