Superior Purchase Totals $4.5 Million (Real Deals)

by George Waldon  on Monday, Nov. 18, 2013 12:00 am  

Superior Trailer Sales has set up shop in the former digs of an RV superstore at 10600 Maybelline Road in North Little Rock.  (Photo by Jason Burt)

Advanced Building Fund LLC, led by Michael Kennedy, David Roberts and Robert East Jr., bought the project at 4950 Northshore Lane.

The seller is Advanced Cabling Systems LLC, led by Kennedy.

The transaction is funded with a 10-year loan of $664,501 from IberiaBank of Lafayette, La.

The project previously was tied to an August 2008 mortgage of $800,000 and a January 2010 mortgage of $60,000 held by IberiaBank.

Accompanying the deal was the $132,000 acquisition of a neighboring 1.21-acre parcel from ACS by ABF.

The property previously was linked with an August 2008 mortgage of $183,750 held by Summit Bank of Arkadelphia. Construction on this site at 4900 Northshore Lane is backed with a 10-year loan of $900,000 from IberiaBank.

The location was purchased for $132,000 in August 2008 from Pfeifer Family Ltd. No. 1, led by Gene Pfeifer.

The 4950 Northshore site was bought for $155,000 in April 2007 from the limited partnership.

Valley Falls Manor

The sale of an 8,965-SF house in west Little Rock’s Valley Falls Estates neighborhood rang up a $1.7 million deal.

Thomas and Christi Rao acquired the home from Summerview Trust, led by Joey and Leslie Wiggins. The deal is financed with a 30-year loan of $1.36 million from First Security Bank of Searcy.

The residence previously was tied to a November 2007 mortgage of $2.6 million held by First State Bank of Conway (now Centennial Bank) and a July 2012 mortgage of $285,188 held by Heartland Bank of Bryant.

 

 

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