Boyle Redevelopment Starts With $4.6M Buy (Real Deals)

by George Waldon  on Monday, Jun. 2, 2014 12:00 am  

The Boyle Building at 500 Main St. (Photo by Michael Pirnique)

An Aloft Hotel project is trailing the $4.6 million sale of a 12-story building in downtown Little Rock.

Chi Hotel Group LLC, led by Jacob Chi, acquired the Boyle Building at 500 Main St. The seller is Main Street Lofts LLC, led by Wooten Epes.

The deal is financed with a nine-month loan of $3.2 million from IberiaBank of Lafayette, Louisiana.

The 0.19-acre development previously was tied to an August 2012 mortgage of $929,124 held by Riverside Bank of Sparkman (Dallas County).

The 0.19-acre development was purchased nearly two years ago as part of a $1.5 million deal with Lafayette Plaza LLC, led by Stephen Marks Sr.

Chick Transaction

A 4,363-SF Chick-fil-A restaurant in midtown Little Rock tipped the scales at $1.87 million.

PRG Investment Equities Ltd. of Beverly Hills, California, bought the 6201 W. Markham St. property from SPC Chick Ltd. of Dallas. SPC acquired the 1-acre location, once home to Casual Corner, for $1.28 million in March 2007.

The seller was 6201 Markham LLC, led by Jeff Yates, J.C. Halsell, Jessica Dearn-ley, Stephen Tucker and Derek Cisne.

Ten Oaks Deal

Ownership of a 10,791-SF retail project in west Little Rock was consolidated in a $345,000 transaction.

RCW Limited Partnership LLLP, led by Roger Craig Williams, purchased sole control of the Ten Oaks project at 11524 N. Rodney Parham Road.

 

 

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