Springhill Suites Hosts $4.5M Transaction (Real Deals)

by George Waldon  on Monday, Feb. 17, 2014 12:00 am  

Springhill Suites by Mariott at 306 Markham Center Drive.  (Photo by Jason Burt)

An 8,320-SF Family Dollar Store in southwest Little Rock rang up a $1.2 million transaction.

Realty Income Trust 2 of Escondido, Calif., acquired the 10412 Chicot Road project from Family Dollar Stores of Arkansas Inc., led by Steven Burt.

Family Dollar Stores bought the 1.46-acre property for $1.1 million in August 2012 from Max Alley Investments LLC, led by James Herrington.

Swiss Village Sale

A 53-unit apartment project in Jacksonville changed hands in a $925,000 deal.

KP Properties of Arkansas LLC, led by Kel Denker and Paul Mead, purchased Swiss Village Apartments at 1001 Quince Hill Road. The seller is Swiss Village Apartments LLC, led by Jim Peacock.

The deal is backed with a $740,000 loan from Centennial Bank and a $92,500 loan from the seller.

The 3.69-acre development previously was tied to a March 2011 mortgage of $175,000 held by First Arkansas Bank & Trust of Jacksonville.

Swiss Village acquired the project for $420,000 in November 2004 from the Goins Living Trust, led by David Delbert Goins.

Faithland Acquisition

Undeveloped land in west Little Rock drew an $859,000 transaction.

Second Baptist Church bought the 6.66-acre parcel at the southwest corner of Kanis Road and Michael Drive from Faithland Commercial Properties 5 LLC, led by Pam Brown Courtney.



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