Agri Property Harvests $3 Million Transaction (Real Deals)

by George Waldon  on Monday, Sep. 16, 2013 12:00 am  

The sellers are 2610 Acres LLC, led by Rick Ferguson, and Centennial Bank of Conway. The bank entered the ownership picture through a $1.1 million foreclosure sale in June 2011. Centennial recovered the property from Gene Cauley.

The land helped secure an April 2005 mortgage of $1.5 million held by the bank. The property was purchased as part of two April 2003 transactions totaling $636,000. The seller was Otter Creek Development Co., led by Robert McGinnis and Byron Eiseman Jr.

Estates Sale

A 2,876-SF home in west Little Rock’s Iron Horse Estates neighborhood rang up a $655,000 deal. Mark and Ann Langston bought the house from the Diane J. Hobson Revocable Living Trust.

The deal is funded with a 15-year loan of $524,000 from Regions Bank of Birmingham, Ala.

The 5-acre residential spread previously was tied to a March 2012 mortgage of $276,000 held by the bank. The trust acquired the property for $705,000 in February 2006 from Thomas and Mary Robinson.

PV Residence

A 4,346-SF home in west Little Rock’s Pleasant Valley neighborhood is under new ownership after a $500,000 sale.

Damon and Stephanie Singleton purchased the house from Thomas and Marie Kieberemmons.

The deal is backed with a one-year loan of $475,000 from Little Rock’s Bank of the Ozarks. The residence was bought for $392,000 in July 2002 from the Prather Family Revocable Living Trust, led by Jerry and Anita Prather.

Tanglewood Mortgage

An 84,000-SF shopping center in Little Rock was used to secure a $4.1 million mortgage. Tanglewood Enterprises, led by Max Mehlburger Jr., received the five-year loan from Centennial Bank.



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