Terraforma Acquisition Rings Up $3.8M Deal (Real Deals)

by George Waldon  on Monday, Apr. 28, 2014 12:00 am  

A 6.7-acre piece of the former Windsor Door campus in Maumelle tipped the scales at $3.8 million.

Terraforma LLC, led by David Bruning and Doug Meyer, bought the 60,600-SF Propak Logistics facility at 701 Carnahan Drive.

The seller is 100 Murphy Drive LLC, led by Mark Bentley.

The deal is funded with a six-month loan of $2.1 million from BancorpSouth Bank of Tupelo, Miss.

The project previously helped secure a June 2013 mortgage of $5.35 million held by Relyance Bank of Pine Bluff.

The Windsor Door properties, en-compassing more than 30 acres, were acquired for $3.25 million in November 2005 from Maumelle Ltd., led by Henry F. Miller.

Boys Toys Sale

A 6.5-acre storage development in southwest Little Rock is under new ownership after a $1.3 million transaction.

Arkansas Storage Centers II LLC, led by Stuart Finley, purchased the Big Boys Toys Storage project at 11409 Baseline Road.

The seller is BBTS LLC, led by Richard Hutson and Scott Davis.

The deal is financed with a $1.4 million loan from Centennial Bank of Conway.

The 6.4-acre development at 11409 Baseline Road previously was tied to a February 2005 mortgage of $655,584 and a May 2013 mortgage of $614,273 held by Centennial Bank.

 

 

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