GMAC Building Rings Up $7.1M Transaction (Real Deals)

by George Waldon  on Monday, Jul. 22, 2013 12:00 am  

The GMAC Building at 16101 La Grande Drive in west Little Rock. (Photo by Mauren Kennedy)

The trust provided a $392,550 mortgage to finance the deal. The 1.12-acre location was purchased for $32,000 in March 1977 from Pythian Castle Hall Association, led by Jack Hammett.

Inmon Transaction

A 5,000-SF repair shop project in North Little Rock rang up a $500,000 deal.

Jeff and Cathy Hooker bought the 2.67-acre development at 100 Inmon Road from David and Karen Inmon. The deal is backed with a 15-year loan of $408,500 from BancorpSouth Bank of Tupelo, Miss.

The property previously was used to help secure a May 2006 mortgage of $2 million held by Twin City Bank of North Little Rock and an April 2009 mortgage of $440,000 held by First Arkansas Bank & Trust of Jacksonville.

The Inmon family acquired the land in January 1962 as part of a $98,000 deal with Securities Investment Co. of St. Louis.

Deauville Residence

The sale of a 4,361-SF home in west Little Rock’s Deauville Place neighborhood in the Chenal Valley development weighed in at $920,000.

Michael and Judy Shelley purchased the house from the Mark & Cheryl Miller Revocable Trust. The deal is financed with a 15-year loan of $500,000 and a 25-year loan of $225,000 from U.S. Bank of Cincinnati.

The residence previously was tied to a September 2010 mortgage of $500,000 held by Regions Bank of Birmingham, Ala.

The property was bought for $325,000 in May 2009 from Richard Glenn Jones.

Estates Sale



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