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.

BBTS bought the location for $220,000 in August 2004 from Steve and Patricia Roberson and Ray and Janice Turnage.

Rally’s Transaction

A fast-food eatery in southwest Little Rock changed hands in a $1.12 million sale.

Baseline LR LLC of Encino, Calif., acquired the Rally’s at 5921 Baseline Road from the Gilbert W. Younger Trust of South El Monte, Calif.

The trust purchased the 0.29-acre development for $1.2 million in August 2006 from Altes LLC, led by Leonard Levitsky.

Accurate Purchase

A 24,868-SF commercial building in south Little Rock rang up a $220,000 deal.

Accurate Calibration Laboratories Inc. of Oklahoma City bought the 8023 Interstate 30 project from Clifton Family LLC, led by Norman Clifton.

The limited liability company purchased the 1.09-acre development for $150,000 in January 2014 from Centennial Bank.

The bank recovered the property at a $250,000 foreclosure sale in March 2013 from AAA Therapy Care Inc., led by J. Roger Baker.

AAA acquired the project for $805,000 in February 2007 from Spontaneous LLC, led by Daniel Waymack.

PV Residence

A 4,679-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $570,000.

Amy and Gerardo Galdamez purchased the house from Bridget Weiss. The deal is backed with a $580,726 loan from Centennial Bank.

The residence previously was linked with a June 1991 mortgage of $219,200 held by Regions Bank of Birmingham, Ala., and a November 2012 mortgage of $175,000 held by Arvest Bank of Fayetteville.

The property was bought for $274,000 in June 1991 from Douglas and Dianne Smart.

Dealer Financing

The Landers Chrysler Dodge Jeep dealership in west Little Rock is backed with a $14 million funding agreement.

CDJ Land LLC, led by Scott Landers, obtained the 10-year loan from Regions Bank.

The 10.29-acre development at 401 Col. Glenn Plaza Loop previously was tied to a May 2012 mortgage of $10 million held by Regions Bank.

CDJ acquired sole ownership of the location a year ago for $614,000.

The 33.3 percent stake was sold in May 2012 by 2005 Chester Phillips Family Two Revocable Trust, The Thomas & Elizabeth Small Living Trust and the Stephen C. & Kimberly K. Hockersmith Family Trust.

The property was purchased in May 2006 as part of a $2.95 million deal with HCA Health Services of Midwest Inc. of Nashville, Tenn.

 

 

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