Posted 9/30/2013 12:00 am
Updated 5 months ago
The sale of two La Quinta Inns in Little Rock each topped $2 million.
Supreme Bright Portfolio LLC of Irving, Texas, bought the 901 Fair Park Blvd. project in midtown from BRE/LQ Properties LLC of New York for $2.33 million.
In turn, Supreme Bright flipped it for $2.5 million to Fair Park Lodging LLC, led by Samir Pothi and Jitendra Patel. The deal includes the neighboring Riviera Maya restaurant at 801 Fair Park Blvd.
The 110-room property is now flagged as a Days Inn.
Supreme Bright also purchased the 11701 Interstate 30 project in southwest Little Rock from BRE/LQ for $2.49 million and flipped it for $2.65 million to Otter Creek Lodging LLC, led by Animesh Patel.
The 145-room motel is now operating under the Super 8 banner.
Meanwhile in North Little Rock, the Phillips 66 Food Plaza at 4300 E. McCain Blvd. is under new ownership after a $1.25 million deal.
Quattro North Little Rock LLC of Oak Brook, Ill., acquired the project from Port Cities Oil LLC, led by Mike Coulson.