Posted 8/8/2011 12:00 am
Updated 11 months ago
Kingridge Enterprises Inc., led by Mark Jackson, acquired the land a mile southeast of Sweet Home along Fourche Creek and Harper Road.
The seller is Jimmy Winemiller's U.S. Investment Realty Co.
The transaction is financed with a 10-year loan of $1.8 million from Rabo Agrifinance Inc. of St. Louis and a two-year loan of $800,000 from U.S. Investment.
The property previously was tied to a January mortgage of $1.04 million held by Arvest Bank of Fayetteville.
U.S. Investment purchased the farm for $1.3 million seven months ago from the Ernest & Mary Harper Joint Revocable Trust, David Harper, Angela Harper Car-michael, the Anna L. Harper Revocable Trust and Alfred Harper.
The Harper family began assembling the land in deals dating back to January 1923 and running through January 1950.
A west Little Rock church is under new ownership after a $995,000 sale.
Disciples Church of Arkansas Inc. bought the 6.1-acre development at 800 Kirby Road from Parkway Place Baptist Church Inc.
The deal is funded with a five-year loan of $550,000 from BancorpSouth Bank of Tupelo, Miss. The property previously helped secure an April 2005 mortgage of $3.26 million held by Centennial Bank of Conway.
Parkway Place purchased the former Lord of Life Lutheran Church for $643,000 in June 2002 from the Mid-South District of the Lutheran Church-Missouri Synod.
The synod acquired the property for $301,000 in April 1988 from Winrock Development Co., led by Russ McDonough.
A car wash project is in the works following a $670,000 land deal at west Little Rock's Shackleford Crossings project.
GDR Partners LLC, le by Gary Weare, David Eusanio and Richard Spooner, purchased the 0.82-acre site at 2702 S. Shackleford Road. The seller is Shackleford Crossings LLC, formerly led by Steve Clary.
The development is backed with a one-year loan of $1.76 million from Malvern National Bank. The property previously was used to help secure $57.4 million of debt held by M&I Marshall & Ilsley Bank of Milwaukee.
The site was bought in October 2005 as part of an $11.4 million land deal with Summit Mall Co. LLC.
The limited liability company was a joint venture between Simon Property Group Inc. of Indianapolis and Dillard's Inc. of Little Rock.
A 4,645-SF home in west Little Rock's Pleasant Valley neighborhood changed hands in a $615,000 sale.
Michael and Sherri Bixler acquired the house from Jeff and Cathy Hooker. The deal is financed with a one-year loan of $417,000 from IberiaBank of Little Rock.
The residence previously was linked with a June 1998 mortgage of $330,000 originated by Little Rock's Bank of the Ozarks and a January 2009 mortgage of $331,115 originated by Bank of Little Rock Mortgage Corp.
The property was purchased for $400,000 in June 1998 from Spencer and Virginia Johnson.
Jackson Towers Note
The owner of a 100-room independent living center in Jacksonville landed a $3.92 million funding agreement.
Jacksonville Towers Inc. of Fort Lauderdale, Fla., obtained the 35-year loan from Wells Fargo Bank of McLean, Va.
The 5.32-acre Jacksonville Towers development at 200 S. Hospital Drive previously was tied to a December 1977 loan from the U.S. Department of Housing & Urban Development.
The location was bought for $133,000 more than 33 years ago from General Properties Inc., led by James P. Matthews.
A non-profit, special needs school in west Little Rock picked up a $500,000 line of credit.
Access Group Inc., led by Wallace Davis, received the funding from Delta Trust & Bank of Little Rock.
The 4-acre development at 10618 Breckenridge Drive also is tied to a December 2008 mortgage of $1.65 million held by the bank.
The property was acquired for $1.04 million in February 2001 from Bible Church of Little Rock.