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.

Hospice Financing

The owner of a 30,000-SF hospice facility in west Little Rock picked up a $5.5 million mortgage.

Hospice Home Care Inc., led by Michael Tankersley, received the five-year loan from Regions Bank.

The nearly 13-acre development at 2200 S. Bowman Road previously was tied to a May 2005 loan of $2 million originated by Arkansas Certified Development Corp. of Little Rock.

Real estate records indicate the project remains encumbered by a June 2005 mortgage of $3.1 million and a July 2008 mortgage of $856,710 held by Simmons First National Bank of Pine Bluff and a September 2010 mortgage of $530,000 held by ExcellRX Inc. of Philadelphia.

The location was acquired for $750,000 in September 2003 from Earl and Melba Combee.

St. Mark Funding

A Little Rock congregation landed a $4.8 million financial package.

St. Mark Baptist Church got the five-year loan from First Security Bank.

The 13.5-acre development at 5722 W. 12th St. previously was linked with a February 2011 mortgage of $5.07 million held by U.S. Bank of Cincinnati.

St. Mark started assembling its property in January 1994, buying a 4.5-acre church project from Central Baptist Church for $1.3 million.



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