Redevelopment Trails $3 Million Retail Sale (Real Deals)

by Arkansas Business Staff  on Monday, Aug. 19, 2013 12:00 am  

Demolition has begun on the former Brandon House Furniture showroom in Little Rock.  (Photo by Luke Jones)

The land previously helped secure September 2012 mortgages totaling $1.5 million held by BancorpSouth Bank of Tupelo, Miss.

R&L purchased the land in June 2004 as part of a $3.4 million deal with Capitol Development of Arkansas Inc., led by Michael Todd.

Jacksonville Reclamation

Ten residential lots and six duplexes in phase four of Jacksonville’s Bellevue neighborhood rang up a $475,000 post-foreclosure sale.

RLA Investments LLC, led by Ryan Aclin, bought the property along Clint Road from Centennial Bank of Conway. The deal is funded with a five-year loan of $512,000 from First Community Bank of Batesville.

Centennial recovered the property from West Family Investments LLC and Fred and Bradley West as part of a $636,000 foreclosure transaction in October 2012.

The duplexes and land previously secured seven mortgages totaling $833,000 held by the bank.

The Wests acquired the property for $225,000 in December 2008 from Skiver Development of Arkansas Inc., led by Clint Skiver.

San Luis Sale

Seventeen lots in the Villages of San Luis development in northwest Pulaski County changed hands in a $272,000 foreclosure sale.

United Motor Co., led by Hal Crafton, purchased the property, which secured an October 2003 mortgage of $285,000 held by Fendley Properties Inc., led by E.G. Fendley.

The 27.7-acre residential development on the east side of Smalling Road between Interstate 40 and Highway 365 also is tied to a January 2007 bond issue of $2.87 million.



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