Zaxby's Combo Deal Rings Up $2.4 Million (Real Deals)

The sale of two Zaxby’s restaurant projects in Pulaski County each topped the $1 million mark.

DTT Properties LLC of Milledgeville, Ga., bought the 208 Brookswood Road property in Sherwood for $1.3 million and the 209 Marshall Road property in Jacksonville for $1.1 million.

The seller in both deals is IHDG Pulaski-01 LLC, led by William D. Walker.

The deal is backed with a $2.33 million loan from Fidelity Bank of Atlanta.

The 1.06-acre Sherwood development previously was tied to an April 2007 mortgage of $1.4 million held by Mountain State Bank of Cumming, Ga.

The 0.95-acre Jacksonville development previously was linked with a July 2007 mortgage of $1.5 million held by Mountain State.

The Sherwood property was acquired for $430,000 more than six years ago from Robert and Bessie McAllister and Stine and Violet McAllister.

The Jacksonville location was purchased for $540,000 nearly six years ago from Eugene Brech.

Convenient Sale

A Shell convenience store in North Little Rock changed hands in a $1.1 million transaction.

Paramount Petroleum LLC, led by Ashwini Gupta, acquired the 10920 Maumelle Blvd. project from In Ho and Yeon Lee.

The deal is funded with a five-year loan of $800,000 and a one-year loan of $150,000 from Pine Bluff National Bank.

The 1.01-acre development previously was tied to a June 2008 mortgage of $800,000 held by North Little Rock’s National Bank of Arkansas.

The project was bought for $960,000 in July 2005 from Investors Inc., led by Kevin Horton.

Ranch Projects

Two undeveloped parcels in The Ranch development in west Little Rock are under new ownership.

HSRE Clarity Pointe at Little Rock LLC of Des Moines, Iowa, purchased a 4.06-acre site near the northeast corner of Ranch Boulevard and Ranch Drive for $920,000.

Fourjay LLC of Memphis acquired a 1.19-acre parcel for a Wendy’s near the northeast corner of Cantrell Road and Ranch Boulevard for $831,000.

The seller in both deals was Ranch Properties Inc., led by Ed Willis.

Construction of HSRE’s 59-bed Alzheimer facility is financed with a four-year loan of $7.18 million from Compass Bank of Birmingham, Ala.

The land was bought in the name of Ranch Properties in November 1989 as part of a $2.66 million transaction with a related entity, Johnson Ranch Partnership, also led by Willis.

The partnership purchased the land in August 1984 as part of a $2.15 million deal with Johnson Land Co., led by Glenn H. Johnson.

Markham Park Buy

A KFC project in west Little Rock rang up a $650,000 transaction.

Markham Park LLC, led by Graham Smith, bought the 0.58-acre development at 100 Markham Park Drive from the H.C. Schmieding Produce Co. Inc. Profit Sharing Trust and Schmieding Foundation Inc.

The deal is backed with a $520,000 loan from Delta Trust & Bank of Little Rock.

The property was acquired for $750,000 in May 1993 from Maury Mitchell Associates Ltd. V.

Church Acquisition

A 5,000-SF child care project in North Little Rock drew a $250,000 sale.

Somers Avenue Church of Christ Inc. purchased the 5101 McClanahan Drive project from Knollwood Associates, led by John Archer.

The deal is funded with a five-year loan of $564,815 from Metropolitan National Bank of Little Rock.

Knollwood bought the 0.54-acre development for $227,000 in November 1982 from La Petite Academy Inc., led by J.L. Brozman.

Doghouse Deal

A south Little Rock musical enterprise sold for $168,000.

Le Cartier LLC, led by Etta Carter, acquired Doghouse Recording at 6319 Forbing Road. The seller is Truvest LLC, led by Terence and Britteny Bass.

The deal is financed with a five-year loan of $171,955 from One Bank & Trust of Little Rock. The 0.94-acre property previously was linked with an August 2012 mortgage of $125,000 held by the bank.

Truvest purchased the project for $100,000 nine months ago from Jennifer McClellan.

Arbors Home

A 5,050-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley neighborhood changed hands in an $825,000 sale.

Jeffrey Henning bought the house from Susan Paszkiewkz. The deal is backed with a 30-year loan of $660,000 from U.S. Bank of Cincinnati.

The residence was tied to March 2012 mortgages of $417,000 held by Metropolitan National Bank and $378,600 held by First Security Bank of Searcy.

The property was acquired for $1.05 million in December 2007 from Thomas and Mary Jane Herr.

Heights House

A 3,966-SF home in the Country Club Heights neighborhood of Little Rock is under new ownership after a $715,000 deal. Mark Bailey Jr. purchased the house from William and Jill Childers.

The deal is funded with a 30-year loan of $607,750 from U.S. Bank. The residence previously was linked with an October 2012 mortgage of $417,000 held by Riverside Mortgage Co. of Little Rock.

The location was bought for $150,000 in October 2001 from Susan Fuller.

PV Residence

A 4,896-SF home in west Little Rock’s Pleasant Valley neighborhood rang up a $657,000 sale.

Melvin Dassinger III and his wife, Mary, acquired the house from Joel and Kathryn Gladden.

The deal is financed with a 30-year loan of $417,000 and a five-year loan of $108,600 from Metropolitan National Bank. The residence previously was tied to an August 2012 mortgage of $406,800 held by Bank of Little Rock Mortgage Corp.

The property was purchased for $705,000 in February 2007 from Chris and Anne Ladner.

Cliffewood Abode

A 5,000-SF home in Little Rock’s Cliffewood neighborhood sold for $570,000.

Mary Woods bought the house from James and Nancy Burrell.

The residence previously was linked with a July 2005 mortgage of $230,000 held by Regions Bank of Birmingham, Ala.

The location was acquired for $135,000 in November 2004 from Richard Smith III and his wife, Susan.

Oakcliff Mortgage

The owner of a 50,724-SF office-retail center in southwest Little Rock picked up a $2.35 million funding agreement.

Oakcliff LLC, led by Joseph Kelley, obtained the 10-year loan from Midwest BankCentre of St. Louis.

The debt is secured by the 5-acre Little Rock Corporate Center development at 7501 Interstate 30 and its 86,000 SF of warehouse space, plus two commercial parcels on East 11th Street in North Little Rock encompassing 5.4 acres.

The properties previously were tied to a July 2012 mortgage of $3.9 million held by BMO Harris Bank of St. Louis.

The bank sold the properties 10 months ago to Oakcliff in a transaction valued at $1.1 million.

Pyramid Funding

A 17,100-SF office-warehouse project in west Little Rock was used to secure a $2.33 million mortgage.

Robert M. Goff & Associates, led by Wally Allen, received the loan from Delta Trust & Bank.

The 1.45-acre Pyramid Park Business Center development at 11300 Financial Centre Parkway previously was linked with an April 2007 loan of $2.36 million from Twin City Bank of North Little Rock.

The property was purchased for $2.72 million in April 2001 from Boen Enterprises LLC, led by Leonard Boen.

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