Posted 3/18/2013 12:00 am
Updated 1 year ago
We don’t have a lot of details yet.
But the year-end sale of assets by Little Rock’s Metropolitan National Bank to The Broe Group of Denver included mortgages in Texas.
We are told the mortgages originally totaled about $27 million and are secured by real estate in the Dallas-Fort Worth metro area.
We’re also told that Metropolitan was the lead lender on the Texas deals, which included participation by other Arkansas lenders.
By the way, other Arkansas banks also participated in the $47.6 million Metropolitan loan that funded construction of the 20-story River Market Tower in downtown Little Rock.
You might recall that loan was part of the asset purchase by Broe that included the Legacy Building in Fayetteville and undeveloped residential acreage in Maumelle.