La Quintas Lose Name in Million-Dollar Sales

by Arkansas Business Staff  on Monday, Sep. 30, 2013 12:00 am  

A new day arrives at Fair Park and I-630.

The sale of two La Quinta Inns in Little Rock each topped $2 million.

Supreme Bright Portfolio LLC of Irving, Texas, bought the 901 Fair Park Blvd. project in midtown from BRE/LQ Properties LLC of New York for $2.33 million.

In turn, Supreme Bright flipped it for $2.5 million to Fair Park Lodging LLC, led by Samir Pothi and Jitendra Patel. The deal includes the neighboring Riviera Maya restaurant at 801 Fair Park Blvd.

The 110-room property is now flagged as a Days Inn.

Supreme Bright also purchased the 11701 Interstate 30 project in southwest Little Rock from BRE/LQ for $2.49 million and flipped it for $2.65 million to Otter Creek Lodging LLC, led by Animesh Patel.

The 145-room motel is now operating under the Super 8 banner.

Meanwhile in North Little Rock, the Phillips 66 Food Plaza at 4300 E. McCain Blvd. is under new ownership after a $1.25 million deal.

Quattro North Little Rock LLC of Oak Brook, Ill., acquired the project from Port Cities Oil LLC, led by Mike Coulson.



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