FBI's Arkansas Headquarters Attracts $19.5M Sale

by George Waldon  on Monday, Jun. 9, 2014 12:00 am  

The state headquarters of the FBI in west Little Rock was the subject of a $19.5 million transaction .  The 99,000-SF office building is at 24 W. Shackleford Blvd. | (Photo by Wil Chandler)

Rodney Parham & Breckenridge LLC, led by The Gertrude P. Ryles Revocable Trust, The Stephen E. Whitwell Sr. Revocable Trust and The Watters Revocable Trust, led by Conan Van Watters, bought the Gallery Building at 10121 Rodney Parham Road.

The deal is funded with a $675,000 loan from One Bank & Trust of Little Rock. The seller was 10121 Rodney Parham LLC, led by John Olaimey.

One Bank filed a foreclosure suit in December 2013 on an original loan of $735,250 that dated back to September 2005. According to the suit, the loan had been past due since September 2013, with a total outstanding balance of $689,355.

10121 Rodney Parham, originally led by Gene Cauley, acquired the 0.96-acre development for $850,000 in September 2005 from Galbreck Properties LLC.

The limited liability company was composed of Lowry Barnes and Allan Roberts, 20 percent each; John Newman and H.E. Cummins III, 17.5 percent each; Mark Bentley and Tom Rystrom, 15 percent combined; and Walter Ebel III, 10 percent.

Magnolia Flats Buy

A 12-unit apartment project in downtown Little Rock is under new ownership after a $690,000 deal.

Magnolia Flats LLC, led by Chris Moses, purchased the 401 E. Capitol Ave. project. The seller is Tri-B Realty Inc., led by John Billingsley.

The transaction is financed with a five-year loan of $770,000 from Arvest Bank of Fayetteville.

Tri-B Realty bought the 0.32-acre development for $96,000 in December 1977 from Central Arkansas Christian Schools.

Terrywood Purchase

A 34-unit apartment project in southwest Little Rock rang up a $400,000 sale.



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