Agriculture Land Produces $2.6M Sale (Real Deals)

by George Waldon  on Monday, Jan. 6, 2014 12:00 am  

Farmland along the Pulaski-Lonoke County line drew a $2.6 million transaction.

Thomas and Susan Hoskyn purchased about 1,030 acres along U.S. Highway 165, about 2 miles northwest of Keo. The seller was the Elizabeth A. Burnett Revocable Trust.

The trust provided a 10-year loan of $2.3 million to finance the deal.

The Pulaski County land (about 320 acres) was acquired for $22,500 in January 1941.

Independent Acquisition

A 13,290-SF office building in west Little Rock changed hands in an $875,000 sale.

Independent Case Management Inc., led by Joe Bryan, bought the 1525 Merrill Drive project. The seller is MLRH Properties LLC, led by William Hoag, and the John Mathis Lile III Irrevocable Family Real Estate Trust.

The 0.74-acre development previously was linked with a November 2005 mortgage of $513,314 held by Arvest Bank of Fayetteville and a December 2005 mortgage of $250,000 held by Centennial Bank of Conway.

The property was purchased for $455,000 in January 1994 from Bailey Corp., led by John Bailey.

Regal Purchase

A 1.27-acre commercial site in North Little Rock drew a $485,000 transaction.

Regal Properties LLC, led by Muhammad and Zoka Almahayni, acquired the location near the southwest corner of Crystal Hill Road and Paul Eells Drive from the Wal-Mart Real Estate Business Trust of Bentonville.

The trust bought the land in January 2007 as part of a $1.5 million deal with Lilac LLC, led by Andy Collins.

Tisdale Buy

A 1,117-SF commercial building in west Little Rock rang up a $215,000 sale.

Tisdale Properties & Development LLC, led by Tracy and Terre Tisdale, purchased the 9901 W. Markham St. project. The seller is David Marcus Properties LLC, led by David Mannon and Mark Whelchel.

The deal is funded with a three-year loan of $176,364 from Little Rock’s Bank of the Ozarks.

The 0.21-acre development previously was tied to a November 2010 mortgage of $215,000 held by Delta Trust & Bank of Little Rock.

The property was acquired for $185,000 in November 2010 from the bank.

Longlea Residence

A 3,923-SF home in west Little Rock’s Longlea neighborhood is under new ownership after a $585,000 deal.

Lawson Glover bought the house from Kenneth and Heather Wilsey.

The property is helping secure a one-year loan of $710,000 from First Federal Bank of Harrison.

The residence previously was linked with a March 2012 mortgage of $215,400 held by Ally Bank of Fort Washington, Pa.

The Wilseys purchased the house for $239,000 in October 2002 from Max and Janet Sears.

Funding on Tracks

A 79-mile short line railroad between Little Rock and Danville was used to help secure a $2.1 billion funding agreement.

The Little Rock & Western Railway Ltd. of Perry (Perry County) property is linked with the four-year loan from a consortium of lenders led by Bank of America.

Genesee & Wyoming Inc. of Darien, Conn., has owned LRWN since acquiring its parent company, Rail Management Corp. of Panama City Beach, Fla., for $244.7 million in June 2005.

G&W owns and operates short line and regional freight railroads covering nearly 10,000 miles of track in five countries, with more than 800 customers.

Dealer Financing

A west Little Rock auto dealership is backed with a $75 million financial package. Premier NSN LLC and Asbury Automotive Arkansas LLC, both of Duluth, Ga., obtained the 10-year loan from Bank of America of Charlotte, N.C.

The 11.7-acre North Point Nissan location at 1 Col. Glenn Plaza was assembled as part of three deals totaling $4.9 million with Colonel Glenn Development Co., led by Robert Vogel and Gary Lay: $1.17 million in October 2000, $1.13 million in September 2002 and $2.61 million in October 2003.



Please read our comments policy before commenting.