Value Place Hotel Visited by $4M Sale (Real Deals)

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

A 121-room hotel in west Little Rock tipped the scales at $4.08 million.

Value Place Little Rock AR West LLC of Wichita, Kansas, bought the Value Place Hotel at 21 Remington Drive from VP Partners 2 LLC of Fort Smith, led by Chris Whitt.

The deal is financed with a $4.08 million loan from Simmons First National Bank of Pine Bluff.

The 3.59-acre development previously was tied to a June 2010 mortgage of $5 million held by BancorpSouth Bank of Tupelo, Mississippi.

VP Partners 2 acquired the site for $665,000 in November 2004. The seller was Boen Enterprises LLC, led by Leonard Boen.

Industrial Transaction

A 6,450-SF warehouse in southwest Little Rock is under new ownership after a $1.26 million sale.

ARCP SN Mabelvale AR LLC of Phoenix purchased the 11618 Otter Creek South Road project.

The seller is Rogers Warehouse Development LLC, an affiliate of Crossland Construction Co. of Columbus, Kansas.

The facility previously was linked with an October 2011 mortgage of $690,000 held by CrossFirst Bank of Overland Park, Kansas.

Rogers Warehouse Development ac-quired the land beneath the project for $300,000 in April from Clifford and Gayla Byrd.

The Byrd family bought the 2.72-acre location for $272,000 in July 2006.



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