Little Rock PetSmart Attracts $4.5M Deal (Real Deals)

by George Waldon  on Monday, Jan. 27, 2014 12:00 am  

Argenta Flats LLC, led by Jared Salter, James Salter and Jack Grundfest, acquired nearly 1.9 acres split between two blocks on the east side of Maple Street.

The sellers were City Grove LLC, led by John Gaudin, $978,000 for a 0.97-acre parcel in the 500 block of Maple; Argenta Community Development Corp., led by Kent Walker, $250,000 for an 0.8-acre property at 710 Maple St.; and the city of North Little Rock, $38,000 for a 4,750-SF parcel in the 700 block of Maple.

The Argenta Flats project is backed with a five-year construction loan of $6.18 million from IberiaBank of Lafayette, La.

The City Grove property previously helped secure an April 2012 mortgage of $1.2 million held by Centennial Bank of Conway.

The land was bought in November 2006 as part of a $1.6 million deal with Richmond Holdings Inc., led by Sidney Richmond Jr.

Argenta CDC received its land in December 2008 as a gift from Harold Tenenbaum.

North Little Rock purchased its property for $9,500 in July 1973.

The sellers were Edmund and Mary Louise Pendleton.

Riviera Space

Eight units of office space in the Riverdale area of Little Rock changed hands in a $600,000 deal.

FC Real Estate Group LLC, led by Pat Spivey, bought 8,410 SF on the second floor of Riviera Condominiums at 3700 Cantrell Road.

The seller is Riviera Partners LLC, led by Tom Rystrom. The deal is funded with an 11-year loan of $1 million from Regions Bank of Birmingham, Ala.



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