Sherwood Retail Project Recycled in $1.2M Sale (Real Deals)

by Arkansas Business Staff  on Monday, Aug. 12, 2013 12:00 am  

The former Harvest Foods store at 4101 E. Kiehl Ave. in Sherwood. (Photo by Mauren Kennedy)

The transaction is funded with a 30-year loan of $407,900 and a 20-year loan of $76,500 from Arkansas Federal Credit Union of Jacksonville.

CVC acquired the location for $81,000 in June 2012 from Rocket Properties LLC, led by Ron Tyne.

Cammack Abode

A 3,024-SF home in the Palisades Estates neighborhood of Cammack Village sold for $500,000.

Christopher and Katherine Hardison purchased the house from Chris and Jo Harkins. The deal is financed with a 30-year loan of $399,200 from Merchants & Planters Bank of Collierville, Tenn.

The residence previously was tied to an April 2012 mortgage of $406,925 held by Quicken Loans Inc. of Detroit.

The Harkins family bought the property for $320,000 in September 2004 from Hunter Gray.

High-Rise Mortgage

The owner of a 21-story office building in downtown Little Rock picked up a $7.5 million funding agreement.

Little Rock Union Plaza LLC of Tucson, Ariz., obtained the 10-year loan from Monumental Life Insurance Co. of Cedar Rapids, Iowa.

The 235,600-SF One Union National Plaza at 124 W. Capitol Ave. and its adjoining parking deck previously were linked with a September 2011 mortgage of $7.7 million held by Centennial Bank of Little Rock.

The 0.96-acre development was acquired for $9.2 million in July 2007 from Union National Plaza I Inc., an affiliate of the state’s second-largest pension fund, the Arkansas Public Employees Retirement System.



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