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)

A 120-room hotel in North Little Rock tipped the scales at $13.1 million.

Midas Little Rock LLC of St. Louis bought the Hilton Garden Inn at 4100 Glover Lane from McCain Lodging Inc., led by Ishverbhai Govind.

The deal is financed with a one-year loan of $9.62 million from Royal Banks of Missouri at Creve Coeur.

The 3.06-acre development previously was tied to a May 2008 mortgage of $9.24 million and a September 2010 mortgage of $350,000 held by Capital Bank of Little Rock.

McCain Lodging purchased the location for $1.35 million in July 2007 from Gary and Kathey Carpenter.

Windsor Door Buy

A 248,571-SF industrial facility in south Little Rock changed hands in a $765,000 deal.

Windsor Door LLC, led by Terry Wright, acquired its namesake complex at 5800 Scott Hamilton Drive from Windsor Republic Door Inc. of Columbus, Ohio.

The deal is backed with a 10-year loan of $1.8 million, a one-year loan of $1 million and two 10.5-year loans totaling $1.33 million from Sovereign Bank of Dallas.

The 18.27-acre project was bought for $3.3 million in December 1997 from United Dominion Industries Inc. of Toronto.

Convenient Purchase

A North Little Rock convenience store drew a $750,000 transaction.

Paradise Stores LLC, led by Asif Habib Ghulam Hussain, purchased the 9128 Highway 161 project from Esmaeil and Janet Adineh-Kharat.

The sellers funded the deal with a $650,000 mortgage. The 1-acre development previously was used to help secure a May 2012 mortgage of $990,000 held by First Arkansas Bank & Trust of Jacksonville.

The Adineh-Kharats acquired the site for $17,000 in June 1992 from Valentine Corp., led by William G. Thompson.

Keener Group Buy

A 10,520-SF commercial building in southeast Pulaski County rang up a $380,000 sale. Keener Group LLC, led by Jennifer Pierce, bought the 10.4-acre property at 1725 Russenberger Road.

The seller is Ellis LLC, led by Michael and Angela Cornell.

The land was purchased for $30,000 in May 1999 from Alfred and Norma Geaslin.

Northshore Land

A 1.2-acre commercial site in North Little Rock flip-flopped ownership in a transaction valued at $284,000.

Taipanic Investment Group LLC, led by Brock Johnson, reacquired the land near the southwest corner of Cooks Landing Road and Northshore Drive. The seller is Thousand Peaks Ventures LLC, led by Joe Carter Jr.

The property previously was linked with an August 2009 mortgage of $251,448 held by BancorpSouth Bank of Tupelo, Miss.

Thousand Peaks bought the property from Taipanic Investment for $315,000 more than four years ago.

Chenal Manor

A 6,730-SF home in the Chenal Circle neighborhood of west Little Rock weighed in at $1.67 million.

The Scott Landers Revocable Trust and Lauren Landers purchased the house from Steven and Janet Cathey.

The deal is financed with a 30-year loan of $1.34 million from Toyota Financial Savings Bank of Henderson, Nev.

The residence previously was tied to a May 2009 mortgage of $300,000 held by Arvest Bank of Fayetteville and a March 2010 mortgage of $789,461 held by UBS AG of Switzerland.

The Catheys acquired the location for $175,000 in December 1989 from Deltic Farm & Timber Co., the predecessor of Deltic Timber Corp. of El Dorado.

PV House

A 4,473-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $691,000. Michael and Kathy Rainwater bought the house from George and Glenda Sheffer.

The deal is backed with a 30-year loan of $400,000 from First Security Bank of Searcy. The residence previously was linked with a September 2012 mortgage of $512,000 held by Centennial Bank of Conway.

The Sheffers purchased the property for $650,000 in March 2010 from Sharon Adkins.

Heights Home

A 2,503-SF home in Little Rock’s Country Club Heights neighborhood changed hands in a $589,000 deal.

Chad and Meredith Causey acquired the house from Jay Brainard Jr. and his wife, Sally.

The deal is funded with a 20-year loan of $330,000 from IberiaBank of Lafayette, La. The residence previously was tied to a November 2011 mortgage of $417,000 held by First Security Bank.

The Brainards bought the property for $515,000 in January 2010 from Alex and Jane Gillespie.

ACC Condo

A 1,635-SF condo in downtown Little Rock rang up a $500,000 transaction.

Tribecca LLC, led by Elizabeth Campbell, purchased the sixth-floor unit in the Arkansas Capital Commerce Center at 200 River Market Ave. from the Thomas F. Shock Trust.

The condominium previously was linked with a March 2011 mortgage of $260,000 held by Arkansas Federal Credit Union of Jacksonville.

Shock acquired the property for $360,000 more than two years ago from Adele Richmond.

Rural Residence

A 3,327-SF home in west Pulaski County is under new ownership after a $500,000 sale. Arvil and Elsie Bryant bought the house from James and Valerie Price.

The 3.89-acre residential spread previously was tied to a June 2003 mortgage of $50,000 held by Regions Bank of Birmingham, Ala.

The Prices purchased the property for $88,000 in June 2003 from Rene and Sonya LaVergne.

Kroger Funding

A trio of Kroger projects in Little Rock was used to help secure an $8.32 million financial package.

Doyle Rogers Family Ltd., led by Doyle Rogers Jr., obtained three one-year loans totaling $7.92 million and a two-year loan of $500,000 from Simmons First National Bank of Pine Bluff.

The Krogers at 8800 Geyer Springs Road, 10300 N. Rodney Parham Road and 6420 Col. Glenn Road previously were linked with a September 2008 mortgage of $12 million held by Simmons.

The 9.2-acre Geyer Springs location was assembled as part of two December 1974 deals totaling $431,000.

The seller in both transactions was Broadmoor Builders Inc., led by E.L. Fausett.

The 7.7-acre Rodney Parham property was acquired for $185,000 in July 1970 from the Kroger Co. of Cincinnati.

The 4-acre Col. Glenn Road location was bought in connection with three transactions totaling $143,000.

The sellers were William and Irma Smith, $70,000 in December 1969; William and Lillian Arnold, $43,000 in March 1970; and Neoma Martin, $30,000 in March 1970.

Woodbend Financing

The owner of a 107-unit apartment project in Maumelle landed a $4.87 million funding agreement.

Woodbend II Ltd. of Knoxville, Tenn., secured the 35-year loan from Walker & Dunlop LLC of Bethesda, Md.

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.

 

 

Please read our comments policy before commenting.
Search

Latest Arkansas Business Poll

Do you approve of the president taking executive action on immigration?