New Landlord Makes $17.5M Move in NLR (Real Deals)

by George Waldon  on Monday, Feb. 3, 2014 12:00 am  

A Colorado investment group is the new owner of McCain Park Apartments, a 320-unit complex at 3900 McCain Park Drive in North Little Rock. (Photo by Jason Burt)

Ownership of a 200,000-SF industrial project in east Little Rock shifted in a deal valued at $1.04 million.

Ben Davis Properties Management LLC purchased the Macmillan Bloedel Containers facility at 1901 E. 22nd St. from SFHR Investments LLC, led by Mark Conine.

The deal is funded with a $1 million loan from One Bank & Trust of Little Rock.

The 15.9-acre development previously was tied to August 2012 mortgages of $800,000 held by Malvern National Bank and $200,000 held by Ben and Diane Davis.

SFHR acquired the property for $1 million 17 months ago from the Davises.

Capitol Lofts Deal

A proposed condo redevelopment in downtown Little Rock is in motion after an $850,000 deal.

Capitol Lofts LLC, led by Scott Reed, bought the 41,672-SF Hall Building and adjoining 19,752-SF Hall Building Annex at 209-215 W. Capitol Ave.

The seller is Robert Davidson.

The 0.39-acre development previously was linked with a November 2001 mortgage of $300,000, a December 2001 mortgage of $75,000 and a June 2010 mortgage of $285,465 held by First Security Bank of Searcy.

The property was purchased for $380,000 more than 12 years ago from Capitol & Louisiana Building LLC, led by Saul Zadik.

Woodland Purchase

 

 

Please read our comments policy before commenting.