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.

More Million-Dollar Construction

188-Unit Apartment Phase    $16 million
The Pointe at Brodie Creek    
3400 S. Bowman Road, Little Rock
Richardson Builders LLC, North Little Rock

First Floor Remodeling    $5,026,798
USAble Building
320 W. Capitol Ave., Little Rock
Baldwin & Shell Construction Co., Little Rock

Family Residence Center    $3,100,000
Our House
302 E. Roosevelt Road, Little Rock
Nabholz Construction Corp., Conway

Larry’s Purchase

A 7,500-SF pizza eatery in downtown Little Rock rang up a $450,000 deal.

Hilton-Carter Holdings LLC, led by Tina Hilton Carter and her husband, Larry, bought the Larry’s Pizza project at 1122 Center St.

The seller is Rebick-Frederick LLC, led by Mike and Mary Jane Rebick and John and Rebecca Frederick.

The deal is backed with a $500,000 loan from First Security Bank of Searcy.

The 0.34-acre development previously helped secure a June 2003 mortgage of $763,000 held by Simmons First National Bank of Pine Bluff.

The property was acquired for $137,900 from the estate of Josephine Lavender.

Clifton Family Buy

A 12,000-SF day school facility in south Little Rock drew a $449,000 sale.

Clifton Family LLLP, led by Norman Clifton, purchased the Alta Care Day project at 6724 Interstate 30 from the Willard Le Vine Revocable Trust.

The Le Vine family bought the 1.96-acre property for $97,000 in April 1979.

The seller was Power Systems Ltd., led by W.J. Hergenrader.

Warehouse Sale I

A 15,000-SF warehouse in south Little Rock is under new ownership after a $375,000 transaction.

VeeeeHT LLC, led by Van Tilbury, acquired the 5601 Scott Hamilton Drive project.

The seller is EHP Investments LLC, led by Robert East and Thomas Harding.

The deal is funded with a 10-year loan from Regions Bank of Birmingham, Ala., and a $75,000 loan from EHP Invest-ments.

The 3.89-acre development previously was linked with a January 2006 mortgage of $256,566 held by Metropolitan National Bank of Little Rock.

EHP purchased the property for $250,000 in March 2003 from James and Linda Wyatt.

Warehouse Sale II

A 21,000-SF warehouse in Sherwood changed hands in a $275,000 deal.

Trickd Holdings LLC, led by Richard Thackeray, bought the 6108 Carnegie Drive project from Charles Meador.

The deal is financed with a $220,000 loan from North Little Rock’s National Bank of Arkansas.

Meador acquired the 0.76-acre development for $250,000 in October 1991. The seller was Frank Paxton Co., led by Roger Davis.

Sologne Manor

A 4,985-SF home in the Sologne Circle neighborhood of west Little Rock’s Chenal Valley development sold for $835,000.

Kevin and Mary Handley purchased the house from William and Wendy Raney.

The deal is backed with a 30-year loan of $668,000 from Simmons First Mortgage Co. of Pine Bluff.

The residence previously was tied to a May 2006 mortgage of $796,000 held by Wells Fargo Bank of Sioux Falls, S.D.

The Raneys bought the property for $995,000 more than seven years ago from John and Kelly Hammer.

Country Club House I

A 2,760-SF home near the Country Club of Little Rock rang up a $750,000 transaction.

Mark and Marcella Doderer acquired the house from Gary and Elizabeth Houston.

The deal is funded with a 15-year loan of $600,000 from Regions Bank.

The Houstons purchased the property for $172,000 in March 1986 from John Watson and Janet Kordsmeier.

Rural Residence

A 4,219-SF house in west Pulaski County drew a $700,000 sale.

Matthew and Lori Kagy bought the house from Joseph and Kerre Gilliland. The deal is funded with a 30-year loan of $417,000 from Bank of England.

The residence previously was linked with a January 2006 mortgage of $480,000 held by Citimortgage Inc. of O’Fallon, Mo., and a May 2013 mortgage of $100,000 held by Bancorpsouth Bank of Tupelo, Miss.

The Gillilands acquired the 8.1-acre spread for $538,000 in July 2001 from Scott and Rene Proctor.

Country Club House II

A 3,140-SF home near the Country Club of Little Rock is under new ownership after a $685,000 deal.

Sue and Wallace Rowland purchased the house from Donald Alvord and Marshallyn Thurston.

The residence previously was tied to February 2011 mortgages of $417,000 and $133,000 held by Metropolitan National Bank.

The property was bought for $365,000 in August 2010.

The seller was Edwin Corder II.

Courts Home

A 4,847-SF house in The Courts neighborhood of west Little Rock’s Chenal Valley development changed hands in a $625,000 transaction.

Jeremy and Lauren Thompson acquired the house from Bruce and Donna Dickey.

The transaction is financed with a 30-year loan of $500,000 from U.S. Bank of Cincinnati.

The residence previously was linked with October 2012 mortgages of $417,000 held by Delta Trust Mortgage Inc. of Little Rock and $81,400 held by Delta Trust & Bank.

The Dickeys purchased the property for $499,000 in November 2010.

The seller was Rector Phillips Morse of Little Rock.

Ridge Abode

A 3,748-SF home in The Ridge neighborhood of west Little Rock sold for $600,000.

Lloyd Kitchens and Alicia Golden bought the house from Billy Collins Jr. and his wife, Jennifer.

The deal is backed with a five-year loan of $450,000 from One Bank & Trust of Little Rock.

The residence previously was tied to a February 2012 mortgage of $413,000 held by Arkansas Federal Credit Union of Jacksonville.

The Collins family acquired the property for $306,000 in June 2011.

The seller in that deal was Angela Harrison.



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