Cantrell Valley Plaza Sells for $1 Million (Real Deals)

A 13,150-SF office building in the Riverdale area of Little Rock changed hands in a $1 million sale.

Triangle Insurance Co. of Enid, Okla., bought Cantrell Valley Plaza at 2725 Cantrell Road from Pinnacle Hotel Group Inc., led by Chetan Patel.

The 1.73-acre development was tied to a September 2009 mortgage of $772,500 held by Ozark National Life Insurance Co. of Little Rock.

Pinnacle Hotel acquired the project for $850,000 nearly four years ago from Ozark National.

Allied Redevelopment

A 19,250-SF commercial facility in Little Rock is undergoing redevelopment after a $640,000 transaction. Allied Properties LLC, led by William Rogers, purchased the 724 Jones St. project from Arkansas Capital Corp. of Little Rock.

The deal is financed with a one-year loan of $1.4 million from BancorpSouth Bank of Tupelo, Miss.

The 0.96-acre former BMW Motorcycle development previously was linked with a July 2009 mortgage of $1.85 million held by ACC. The property was turned over to ACC in August 2010 by Jas & Sons Inc., led by James Willbanks.

The location was bought for $125,000 in March 2002 from Argee Properties Partnership I, led by Roger and John Glasgow.

Mini Acquisition

A 2.02-acre development in west Little Rock rang up a $399,000 deal. B&H Partners LLC, led by Christopher Black and Russell Hall, acquired Lawson Road Mini Storage at 15700 Lawson Road from Little Rock’s Metropolitan National Bank.

The deal is backed with a five-year loan of $345,108 from First Security Bank of Searcy.

Metropolitan recovered the 89-unit project from Lagniappe Development Inc. and Floyd David Cloud Jr. at a $286,000 foreclosure sale in June 2012. The project was linked with a May 2006 mortgage of $547,037 held by the bank.

Cloud purchased the property for $640,000 more than seven years ago from Lawson Road Mini Storage LLC, led by Rick Millerick.

Woodlands Sale

An 80-acre tract in southeast Pulaski County drew a $200,000 sale.

Ridgewood Timber Corp. of Batesville bought the mostly wooded property on the north side of Bracy Road about a mile east of Highway 367. The sellers are Ronald and Billie Bennett.

The Bennett family acquired the land for an undisclosed sum in January 1956 from Hobert and Aurora Huff.

Country Club House

A 4,697-SF home near the Country Club of Little Rock tipped the scales at $1 million.

Daniel and Rachael Oberste purchased the house from Lee and Molly Owens.

The deal is funded with a 30-year loan of $750,000 from Bank of America in Charlotte, N.C.

The residence previously was tied to a November 2012 mortgage of $600,000 held by Red River Bank of Alexandria, La.

The Owens family bought the property for $275,000 in April 2004 from Hardin Design & Construction Inc., led by Keith Hardin.

Germay Home

A 5,050-SF home in the Germay Court neighborhood of west Little Rock’s Chenal Valley development sold for $758,000.

Richard and Patricia Macy acquired the house from John and Roseann Baden. The transaction is financed with a 30-year loan of $417,000 from IberiaBank Mortgage Co. of Little Rock.

The residence previously was linked with an August 2004 mortgage of $697,846 held by Regions Bank of Birmingham, Ala.

The Badens purchased the property for $698,000 nine years ago from Lewis Home Builders Inc., led by Jon Lewis.

Orle Residence

A 4,200-SF home in the Orle neighborhood of west Little Rock’s Chenal Valley development changed hands in a $755,000 transaction.

Christopher and Sarah Ross bought the house from Stuart and Mitzi Miller. The deal is backed with a 30-year loan of $717,155 from Suntrust Mortgage Inc. of Richmond, Va.

The residence previously was tied to an October 2012 mortgage of $577,000 held by BancorpSouth Bank of Tupelo, Miss.

The location was acquired for $142,000 in March 2007 from Deltic Timber Corp. of El Dorado.

Pine Manor Abode

A 3,750-SF home in midtown Little Rock rang up a $750,000 sale.

Todd Herman and Harold Gerard III purchased the house from the Bonnie Bishop Holmes Joint Revocable Trust.

The deal is funded with a 30-year loan of $417,000 and a $258,000 loan from Centennial Bank of Conway.

The Holmes family bought the property for an undisclosed sum in July 1962 from Samuel and Georgia Boyce.

Oaks House

A 4,800-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development drew a $735,000 transaction.

James and Sandy Kelley acquired the house from Sara and Sam Richardson III.

The residence previously was linked with a June 2003 mortgage of $400,000 held by Progressive Bank of Monroe, La.

The Richardsons purchased the location for $73,000 in May 2003 from William Campbell.

Rural Residence

A 5,700-SF home near Pinnacle Mountain State Park is under new ownership after a $598,000 sale.

Michael and Ann Austen bought the house in west Pulaski County from Melissa Garner. The deal is financed with a 30-year loan of $478,320 from Bank of America.

The residence previously was tied to a July 2010 mortgage of $378,500 held by Ameriprise Bank of Minneapolis.

The 5.6-acre location was acquired for $73,000 in December 1997 from Monnie Holmes.

Office Refinance

A 54,772-SF office building in the Riverdale area of Little Rock was used to secure a $5.8 million funding agreement.

Rock Financial Group LLC, led by Walter Quinn, obtained the five-year loan from Summit Bank of Arkadelphia.

The 4.4-acre development at 1 Information Way previously was linked with a June 2008 mortgage of $5.9 million held by the bank.

Acxiom Plaza was purchased for $6.95 million five years ago from Riverdale Office Building Joint Venture, led by Acxiom Corp. and John Flake.

BSMD Mortgage

A mix of commercial and residential property in Little Rock is backing a $2.15 million financial package.

BSMD Holdings LLC, led by James Bryant and Brett Smith, received the three-year loan from Centennial Bank. The loan is secured by several transactions.

  • The 7,300-SF 2801-2805 Kavanaugh Blvd. project in the Hillcrest area was bought for $1.05 million in April 2007 from the Elizabeth Butterfield Whitbeck Trust, the Frank L. Whitbeck Share 2 Trust and the Selby Rowland Whitbeck Trust.
  • The 3,840-SF Canon Grill property at 2811 Kavanaugh Blvd. in the Hillcrest area was acquired for $600,000 in July 2006 from the Beverly B. Whitbeck Revocable Trust, led by Frank Whitbeck.
  • Two 862-SF condos and a 702-SF unit in The Cliffs project at 820 North St. were purchased for $335,000 in June 2008 from River Rock Properties LLC, led by Henry Jordan Sr. and Henry Jordan Jr.
  • A 1,180-SF house at 5223 I St. was bought for $210,000 in January 2006 from Sara and Jeffrey Priebe.
  • A 1,325-SF house at 5114 Cantrell Road was acquired for $145,000 in August 2009 from investors in Ameriquest Mortgage Securities Inc. Asset-Backed Pass Through Certificates Series 2005-R11.
  • A 1,092-SF house at 1204 Kavanaugh Blvd. was purchased for $141,000 in June 2008 from Jason Earley.