$42.6 Million Transaction Visits Foothills Apartments (Real Deals)

by George Waldon  on Monday, Apr. 21, 2014 12:00 am  

Foothills Apartments at 2401 Lakeview Road in North Little Rock. (Photo by Jason Burt)

Woodland Transaction

A 349-acre tract in south Pulaski County changed hands in a $530,196 deal.

Regions Southeast Timber Fund II LLC of Birmingham, Ala., acquired the land along a 1.5-mile stretch on the west side of Interstate 530 from the Saline County line.

The seller is Ten Mile Properties LLC, led by Philip Tappan.

The land near Hensley was purchased in June 2008 as part of a $464,000 deal with Blue Sky Timber Properties LLC of Memphis.

Blue Sky is a subsidiary of Southeast Timber Inc., which is controlled but not wholly owned by International Paper Co.

Day Care Recovery

A 20,888-SF day care in Little Rock is under new ownership after a $500,000 foreclosure sale.

Centennial Bank of Conway recovered the Kids First project at 1919 W. 12th St. from Burrow Family Trust, led by Bruce Burrow.

Centennial entered the picture in October 2013 when its parent company acquired Liberty Bank of Arkansas in Jonesboro.

The 1.6-acre development previously was tied to a November 2011 mortgage of $1.86 million and a March 2012 mortgage of $21,800 held by Liberty Bank.

The property was acquired for $500,000 in May 2002 from two New York firms: QRS 10-9 (AR) Inc. and QRS 11-2 (AR) Inc.



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