Wooded Acres Sell In $1.59 Million Deal (Real Deals)

by George Waldon  on Monday, Sep. 30, 2013 12:00 am  

Second-phase construction at The Pointe at Broadie Creek. (Photo by Jason Burt)

More than 945 acres in the Hensley area of southeast Pulaski County tipped the scales at $1.59 million.

Tall Corn Forestry LLC of Atlanta purchased the land from RMS Timberlands LLC of Birmingham, Ala.

The property previously was used to help secure a November 2006 mortgage of $365 million.

The loan was made by a group of lenders that included Metropolitan Life Insurance Co. of New York, Prudential Life Insurance Co. of America of Newark, N.J., Farm Credit Bank of Texas in Austin and Robobank of the Netherlands.

The timberland was bought nearly seven years ago as part of a $1.7 million deal.

The seller was Blue Sky Timber Properties LLC, a subsidiary of Southeast Timber Inc.

School Property

Land for a new high school campus in southwest Little Rock sold for $1.37 million.

The Little Rock School District acquired 55.9 acres at the southeast corner of Mabelvale Pike and Richsmith Lane.

The sellers are Martin Revocable Living Trust, led by Agnes Martin and Frances Martin, the Mary M. Garner Trust and the Agnes M. Martin Trust.

The Martin family has owned the bulk of the land for more than 92 years.



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