$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)

Multifamily Deal I

An eight-unit apartment complex in Little Rock rang up a $485,000 sale.

Here’s The Deal Properties LLC, led by Todd Sweeden and Chris Lash, bought the 517 Chickadee Drive project from the Claudia L. Parks Rental Trust.

The deal is financed with a three-year loan of $385,000 from Eagle Bank & Trust of Little Rock and a five-year loan of $70,000 from the seller.

The 0.36-acre development was purchased for $250,000 in March 1996 from Shirley Moody Thompson, Phillip Moody and Stephen Moody.

Auto Sale

A 4,085-SF auto repair project in Little Rock drew a $475,000 transaction.

Extreme Auto Plaza LLC, led by Sammy Alsofari, acquired Midas Muffler at 5013 S. University Ave. The seller is Alkar Realty Inc., led by Jean Kohler.

Alkar provided a $471,000 mortgage to fund the deal. The 0.39-acre development previously was linked with a June 1996 mortgage of $1.4 million held by Eagle Bank & Trust.

The property was purchased for $333,000 in July 1986 from Midas Realty Corp. of Chicago.

Multifamily Deal II

A 10-unit apartment project in downtown North Little Rock sold for $350,000.



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