LR Interstate Property, Nursing Home Both Net $5M+ Buys (Real Deals)

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

Chenal Heights Nursing & Rehabilitation, a 120-bed project  in west Little Rock, is under new ownership after a $5.4 million transaction. (Photo by Jason Burt)

A 16-acre commercial site in southwest Little Rock weighed in at $5.8 million.

Fletcher Realty LLC, led by Frank Fletcher, bought the land near the southwest corner of Interstate 30 and Otter Creek Road.

The seller is Thomas Bartholomew, founder of CalArk Inc.

Bartholomew purchased the land for $800,000 in August 1996 as part of a 21.5-acre deal.

The seller was Centrixx Realty Holdings Ltd., led by John E. Beales.

Hickory Manor Buy

The sale of a 120-bed nursing home in west Little Rock tipped the scales at $5.4 million.

Hickory Manor LLC of Fort Smith acquired Chenal Heights Nursing & Rehabilitation at 3 Chenal Heights Drive from Chenal Arkansas LLC of Chicago.

The 7.27-acre development is now helping secure a five-year loan of $110 million from Bank of Oklahoma in Tulsa.

The location was bought for $1.4 million in June 2006 from ATRS Retirement Properties LLC, an affiliate of the Arkansas Teacher Retirement System.

Cliff Lee Purchase

A 6,751-SF office building in Little Rock’s Riverdale area rang up a $1 million sale.



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