Residence Inn Draws $7 Million Transaction (Real Deals)

by George Waldon  on Monday, Jul. 15, 2013 12:00 am  

Residence Inn by Marriott at 1401 S. Shackleford Road in west Little Rock. (Photo by Mauren Kennedy)

Prospect Building LLC, led by Kris Upton, received the seven-year loan from Malvern National Bank.

The 5.81-acre Prospect Building development at 1501 N. University Ave. previously was tied to an April 2003 mortgage of $6 million originated by Deutsche Bank AG of New York.

The location was bought for $535,000 in June 1972 from Arkansas Baptist Medical Center.

Collegiate Construction

Construction of the Community Union Building at Arkansas Baptist College in Little Rock is backed with a $3 million mortgage.

Arkansas Baptist College got the four-year loan from IberiaBank.

The 0.3-acre site at 1523 Dr. Martin Luther King Jr. Drive was acquired for $185,000 in October 2008 from Donna Redwood.

Church Funding

A North Little Rock congregation landed a $2.86 million funding agreement.

First Assembly of God North Little Rock Inc. obtained the 10-year loan from

Regions Bank of Birmingham, Ala.

The 9.3-acre development at 4501 Burrow Drive was linked with a July 2004 mortgage of $2 million and an October 2008 mortgage of $781,234 held by Twin City Bank of North Little Rock.

The location was purchased for $300,000 in March 1981.

The sellers were Reed and Katherine McConnell; Donald D. Collie; John and Susan Jackson; Joe and Mary Smith; John and Phyllis Kincannon; and Kevin and Catherine McConnell.

Seven-Digit Construction

Dormitory at Arkansas Baptist College    $6,362,192
1723 Bishop St., Little Rock
Clark Contractors LLC, Little Rock

Arkansas Blue Cross & Blue Shield cafeteria renovation    $3,656,981
601 S. Gaines St., Little Rock
Baldwin & Shell Construction Co., Little Rock

CenterPoint Energy regional HQ    $2,550,000
5300 Northshore Cove, North Little Rock
East Harding Inc., Little Rock

Office building    $1,500,000
1401 Kanis Park Drive, Little Rock
Magnificent Spaces LLC, Little Rock

New 8,350-SF house    $1,000,000
4601 Crestwood Drive, Little Rock
Fred Lord Builder Inc., Little Rock



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