$1.7M Transaction Visits Motel 6 Property (Real Deals)

by George Waldon  on Monday, Dec. 2, 2013 12:00 am  

A 128-room motel in southwest Little Rock changed hands in a $1.7 million sale. Sargam Hospitality Inc. of Irving, Texas, bought the Motel 6 at 7501 Interstate 30.

The seller is G6 Hospitality Property LLC, an affiliate of Blackstone Real Estate Investors of New York. The deal is financed with a $1.47 million loan from Wilshire State Bank of Los Angeles.

The 3.23-acre development previously was used to help secure an October 2012 mortgage of $1.05 billion held by a trio of New York lenders: JPMorgan Chase Bank, German American Capital Corp. and Citigroup Global Markets Realty Corp.

The property was purchased for $3.65 million in November 2011 from M-Six VI Business Trust of Wilmington, Del.

JFK Dental Care

A 3,000-SF dental clinic in North Little Rock is under new ownership after a $470,000 deal. Flaherty Family Holdings LLC, led by Stephanie Flaherty, acquired the 5125 JFK Blvd. property from the Josef A. Villiger Revocable Trust.

The deal is funded with a five-year loan of $471,639 from Little Rock’s Bank of the Ozarks.

The trust bought the 0.44-acre property for $260,000 in November 1998 from MS Partnership, led by Jack Patterson.

Rural Residence

A 4,781-SF home in west Pulaski County tipped the scales at $1.15 million.

Christopher and Brandi Wylie purchased the house from Ben and Kristen Eiler. The deal is backed with a 30-year loan of $417,000 and a five-year loan of $503,000 from One Bank & Trust of Little Rock.

The residence previously was tied to a May 2009 mortgage of $100,000 and an October 2011 mortgage of $380,000 held by First Security Bank of Searcy.

 

 

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