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

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

Multifamily Mortgage

The owner of a 240-unit west Little Rock apartment complex picked up a $4.5 million financial package.

Out-In-The-Woods LLLP, led by James E. Jackson and Haskell Dickinson II, received the loan from Grandbridge Real Estate Capital LLC of Charlotte, N.C.

The Out-In-The-Woods Apartments project at 9201 Kanis Road previously was tied to a September 2003 mortgage of $3.9 million held by Collateral Mortgage Capital LLC of Birmingham, Ala.

The Dickinson family has had ownership in the 13.2-acre property since June 1943.

Distribution Financing

A 178,750-SF warehouse project in North Little Rock is backing a $3.65 million funding agreement.

Blue Water Holdings LLC, led by Sidney Richmond, obtained the six-year loan from Bank of Little Rock.

The 23.7-acre development previously was linked with a March 2012 mortgage of $1.9 million held by the bank.

The property was purchased for $1.85 million in November 2010.

The seller was JM-Ark Acquisitions LLC, led by Gregory Schain.



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