NLR Hilton Garden Inn Draws $13.1 Million Sale (Real Deals)

by George Waldon  on Monday, Dec. 16, 2013 12:00 am  

Hilton Garden Inn at 4100 Glover Lane in North Little Rock. (Jason Burt)

The 7.1-acre Woodbend Apartments development at 501 Valencia Drive previously was tied to an April 2010 mortgage of $3.75 million held by Wells Fargo Bank of Sioux Falls, S.D., and $1.95 million of Section 1602 Exchange Program funds administered by the Arkansas Development Finance Authority.

Woodbend purchased the project for $4.07 million more than three years ago from Woodbend Apartments Ltd., led by James Kincannon.

Crain Mortgage

A former auto dealership in west Little Rock is backing a $4.5 million mortgage.

15400 Chenal LLC, led by Larry Crain Jr., got the five-year loan from First Security Bank.

The 6.55-acre property was part of the Crain Ford development, which was acquired for $8.1 million in April 2011 from the estates of Phillip H. Mayfield and William J. Smith.



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