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)

White Oak Apartments LLC, led by Kevin Horton, got the loan from Summit Bank.

The 13.15-acre site at 10701 Burkhalter Haas Drive was assembled as part of two transactions totaling $792,000.

The sellers were the estate of Henry Terry, 13 acres for $605,000; and EH Pro-perties LLC, led by Ben Eiler and David Haas, $187,000.

Dealer Financing

The Northpoint Toyota dealership in North Little Rock is backed with a $5.58 million financial package.

Asbury Automotive Arkansas Dealership of Duluth, Ga., obtained the loan from Toyota Motor Credit Corp. of Torrance, Calif.

Asbury assembled half of the property in deals totaling $2.3 million.

The sellers were Fletcher Realty

LLC, led by Frank Fletcher, $1.5 million for the 2.4-acre Frank Fletcher Chrysler Jeep location at 4313 Landers Road; L&S Concrete Co., led by Charles Weaver, $772,000 for 2 acres on Smokey Lane; and Joe Edd Hawkins, $75,000 for a 0.15-acre parcel.

The remaining 4.97 acres is leased from MJG Family Ltd., led by Michael Goshen.

Mortuary Funding

A Jacksonville funeral home is backing a $2.1 million mortgage.



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