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)

A former RV sales property near Interstate 40 in North Little Rock tipped the scales at $4.5 million.

Frank Deel III, chairman of Superior Trailer Sales Co. of Sunnyvale, Texas, acquired the 25.7-acre location at 10600 Maybelline Road. The seller is I-40 RV Land LLC, led by Paul Minton.

The deal is backed with a 10-year loan of $3.5 million from Bank of Oklahoma in Tulsa. The development previously was tied to a July 2013 mortgage of $2.79 million held by Bank of England.

I-40 RV Land bought the property for $2.15 million in March 2008 from Keathley-Richards Inc., led by LuLynn Keathley-Richards.

Marine Purchase

An 88,880-SF distribution facility in south Little Rock is under new ownership after a $1.7 million sale.

D.I.G.-Little Rock LLC, led by John Benton Smallpage III, purchased the project at 3201 W. 65th St. The seller is Southern Marine LLC, led by Ricky Willis.

D.I.G., an affiliate of Donovan Marine Inc. of Harahan, La., financed the deal with a 15-year loan of $1.32 million from Malvern National Bank.

The 5.05-acre development previously was linked with a February 2011 mortgage of $4 million held by the bank.

Southern Marine acquired the location for $395,000 in June 1999 from Elizabeth Brandon.

Advanced Transactions

A 14,200-SF office-warehouse project in North Little Rock changed hands in a $950,000 transaction.

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.

The mansion was purchased for $2.9 million in November 2007 from Rack Holdings LLC, led by Joe White.

Hickory Creek Home

A 4,477-SF home in west Little Rock’s Hickory Creek neighborhood sold for $830,000.

William Major III and Antoinette Dack bought the house from James and Emily Gregory. The deal is funded with a 30-year loan of $417,000 from Bank of Little Rock Mortgage Corp. and a 20-year loan of $247,000 from IberiaBank.

The residence previously was linked with a January 2008 mortgage of $705,000 held by Bank of Little Rock Mortgage and an April 2013 mortgage of $65,000 held by Sidney M. Thom Ltd.

The Gregory family acquired the property for $595,000 in January 2002 from Steven and Misty Smith.

St. John’s Abode

A 2,649-SF home in the St. John’s Place neighborhood of Little Rock drew a $635,000 transaction.

Steven and Kathleen Jonsson purchased the house from Richard and Alice Watts.

The deal is backed with a 15-year loan of $335,000 from Metropolitan National Bank of Little Rock.

The residence previously was tied to a January 2013 mortgage of $350,000 held by First Financial Bank of El Dorado.

The Watts family bought the property for $517,000 10 months ago from the Mary S. East Living Trust.

Woodland’s Residence

A 4,500-SF home in west Little Rock’s Woodland’s Edge neighborhood is under new ownership after a $580,000 sale.

Rawle Seupaul acquired the house from Hometime Builders Inc., led by Jim Hastings Jr. The deal is financed with a 30-year loan of $417,000 from First Security Bank.

The residence previously was linked with an October 2012 mortgage of $424,000 held by BancorpSouth Bank of Tupelo, Miss.

The location was purchased for $82,000 in October 2012 from Rocket Properties LLC, led by Ron Tyne.

Courts House

A 4,800-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development changed hands in a $550,000 transaction.

Gregg and Tammy Vines bought the house from Jonathan and Paula Funk. The deal is funded with a 30-year loan of $320,000 from Little Rock’s Bank of the Ozarks.

The residence previously was tied to August 2008 mortgages of $417,000 held by Bank of the Ozarks and $53,250 held by Heber Springs State Bank.

The Funks purchased the property for $628,000 more than five years ago from Carl Gray Henson Inc.

Forest Heights Home

A 2,400-SF home in Little Rock’s Forest Heights Place neighborhood rang up a $510,000 sale.

Kathryn Thrailkill acquired the house from Lisa Kirkpatrick.

The deal is backed with a 15-year loan of $160,000 from Centennial Bank of Conway.

The residence previously was linked with an April 2012 mortgage of $325,600 held by Delta Trust Mortgage Inc. of Little Rock.

Kirkpatrick bought the property for $407,000 in April 2012 from Edward and Diane Crafts.

Graphic Financing

A 33,600-SF commercial project in downtown Little Rock was used to secure a $4 million funding agreement.

AGI LLC, led by Kevin Wilcox, obtained the 15-year loan from Bank of Little Rock.

The 2.02-acre Arkansas Graphics de-velopment at 800 Gaines St. previously was tied to six mortgages totaling more than $2 million held by the bank.

The loans date back to February 2008, August 2008, October 2008 and February 2009.

The property was assembled in seven transactions totaling $662,000. The sellers were Strafco Inc. of San Antonio, $425,000 in June 1981; Leon and Naomi Adams, $200,000 in August 1996; Robert and Donna Miller, $18,000 in August 1996; James Booth and Martha Anne Booth, $6,000 each in July 1996; Travis Walton, $5,000 in April 1997; and the Commissioner of State Lands, $2,140 in April 1990.

Land Loan

The owner of a 7.16-acre commercial tract in west Little Rock landed a $2.5 million financial package.

14910 Cantrell LLC, led by Steve Hockersmith and Elizabeth Small, received the five-year loan from Malvern National Bank.

The property on the north side of Cantrell Road, west of East Taylor Loop Road, previously was linked with an August 2011 mortgage of $2.75 million held by First Security Bank.

The land was assembled as part of a two-part acquisition totaling $3.2 million.

The sellers were the namesake living trusts of Edward and Bonnie Cargile,

$1.35 million in December 2004; and the PJM Revocable Trust, led by Phyllis J. McGrew, $1.9 million in July 2006.

 

 

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