$6M Transaction Rolls Into LR Infiniti Dealer (Real Deals)

The sale of a west Little Rock auto dealership weighed in at $6 million.

Security Holdings Inc., an affiliate of Fenton Motors of Tyler, Texas, acquired Ellis Infiniti at 15 Col. Glenn Plaza Drive. The seller is ACE-H LLC, led by Anna C. Ellis.

The deal is funded with a $5.3 million loan from Infiniti Financial Services of Irving, Texas. The 15,700-SF facility previously was tied to a March 2012 mortgage of $4.1 million held by Wells Fargo Bank of Sioux Falls, S.D.

The 2.82-acre location was acquired for $1.38 million in June 2010 from Asbury Automotive Arkansas LLC of Duluth, Ga.

New Lafayette Owners

A condo-conversion project in downtown Little Rock tipped the scales at $3 million.

Lafayette Building LLC, led by Charles and Jessica Gallagher, purchased its namesake property at 523 Louisiana St. The seller is Lafayette Plaza LLC, an affiliate of Tower Investments LLC of Woodland, Calif.

The deal encompasses nearly 43,000 SF of commercial space on floors one through five and the mezzanine level and 10 residential condos on floors six through nine.

The deal is financed with a five-year loan of $2.4 million from Fidelity National Bank of West Memphis.

The 0.3-acre development previously helped secure a December 2005 mortgage of $6.5 million held by Arvest Bank of Fayetteville.

The 130,000-SF building was acquired for $1.99 million in February 2005 from Lafayette Partnership, originally composed of Henry Nichols and Johnny Mitchum.

National Bank of Arkansas replaced Mitchum in the ownership picture after he defaulted on $780,000 of debt he had personally guaranteed.

Heritage Acquisition

An education property in west Little Rock changed hands in a $2.7 million deal.

Doda Construction, led by David Bruning and Doug Meyer, bought the 14,248-SF Heritage College project at 1309 Old Forge Road. The seller is Family Center Properties LLC, led by Paschal Gagliardo.

The deal is backed with a six-month loan of $1.49 million from BancorpSouth Bank of Tupelo, Miss.

The 2.4-acre development previously was linked with a February 2006 mortgage of $845,000 originated by The Right Bank for Texas in Houston.

Family Center purchased the property for $418,000 at an October 2004 foreclosure sale.

The courthouse auction followed an August 2004 judgment of $385,393 against Martin and Rosa Marin by Bank of Little Rock.

Seven-Digit Construction

Regional Operations Center    $12,600,870
Midcontinent Independent System Operator    
1700 Centerview Drive, Little Rock
Nabholz Construction Corp., Conway

K Loft Apartments     $3,000,000
315 Main St., Little Rock
AMR Construction LLC, Little Rock

Northpoint Ford    $2,658,300
4400 Landers Road, North Little Rock
Brinkmann Constructors, Chesterfield, Mo.

Bank Branch    $1,900,000
2504 McCain Blvd., North Little Rock
First Security, Searcy

Kitchen/Ashley’s Renovation    $1,104,328
Capital Hotel    
111 W. Markham St., Little Rock
East Harding Inc., Little Rock

Rich Buy

A 52,298-SF trucking facility in Little Rock is under new ownership after an $825,000 sale.

Rich Transport LLC of Cudahy, Wis., acquired the Rich Logistics/Rich Warehousing & Distribution Center at 6011 Scott Hamilton Road.

The seller is Richards Finance Co. LLC, led by Betty Richards.

The 3.7-acre property was bought in October 1998 as part of an $825,000 deal with McKesson Corp., the successor to Meyer Brothers Drug Co. of Arkansas.

Vet Purchase

A 2,720-SF veterinary clinic in west Little Rock drew a $370,000 transaction.

PVVC LLC, led by Jonathan Brent Koonce, purchased the 3712 Woodland Heights Road project. The seller is Pleasant Valley Veterinary Clinic Inc., led by Hartford Hamilton.

The corporation provided a $310,000 mortgage to finance the deal.

The half-acre location was acquired for $110,000 in August 1978 from Roy and Salliejane Rainey.

Arbors Residence

A 5,000-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development rang up a $689,000 deal.

Rel and Sondra Luttrell bought the house from Vincent and Cynthia Restivo. The deal is funded with a one-year loan of $539,000 from IberiaBank of Lafayette, La., and a 15-year loan of $295,000 from IberiaBank Mortgage Co. of Little Rock.

The residence previously was tied to a July 2010 mortgage of $417,000 held by Metropolitan National Bank of Little Rock.

The Restivos purchased the property for $785,000 nearly four years ago from Jerry and Nellwyn Griffith.

Carmel Home

A 3,894-SF home in west Little Rock’s Carmel neighborhood sold for $530,000.

Josephine Ambruzs and Steven Roberts acquired the house from the Robert Mason Lewis & Sherard T. Lewis Amended & Restated Living Trust.

The deal is financed with a 30-year loan of $503,500 from Regions Bank of Birmingham, Ala. The residence previously was linked with a June 2013 mortgage of $160,000 held by Summit Bank of Arkadelphia.

The Lewis family bought the property for $534,000 in January 2005 from the Anne M. Martin Revocable Trust.

Anthony Financing

A private school in Little Rock landed a $5 million funding agreement.

Anthony School Inc. obtained the 10-year loan from First Federal Bank of Harrison.

The property encompasses about 11 acres west of Watt Street between Ohio and Illinois streets that was once home to a church and more than a dozen homes. The land was assembled in 23 transactions totaling $3.8 million.

  • 2005: New Life Ministries International Inc., led by Joe Stricklin, $565,000 in June; Jonathan Hermani, $142,000 in August; Spann Family Properties LLC, led by Billy Spann Jr., $115,000, and Sands and Janet Jones, two $136,000 sales, and Mary Ross, $136,000, all in September; Harvey and Page Sheppard, $112,000, Gay and Paul Montgomery, $113,000, and Ronald and Keena Vellance, $166,000, all in October; Ray and Dorothy Davis, $174,300, Lizabeth Lookadoo, $162,700, all in November; and Teresa Baker, $149,000 in December.
  • 2006: Jacqueline Koehler, $100,000 in February; Virginia Atkinson, $121,000 in March; Frances Greenwood, $158,000, and Taylor and Kelly Holbert, $217,000, in June; Christy King, $140,000 in July; and Jill and James Doyle, $162,000 in September.
  • 2007: Ray Jon McCollough, $199,000 in February; Jeremy and Jenny Teeter, $150,000, and Paul and Rebecca Owen, $176,000, all in May; and Helen Wright, $154,000 in June.
  • 2008: Hargett Family LLC, $138,000 in May.

Part of the property previously was tied to a July 2008 mortgage of $5.5 million held by Regions Bank.

D1 Funding

An 18,000-SF sports training facility in west Little Rock is backed with a $2.82 million financial package.

WB Sports of Little Rock LLC, led by William Bartholomew, received the five-year loan from First Bank of Nashville, Tenn.

The 4.2-acre D1 development at 10 Viewpoint Cove previously was linked with a February 2008 mortgage of $3.38 million held by Tennessee Commerce Bank of Franklin, Tenn.

The location was purchased for $697,000 in July 2007 from Linda and Gene Pfeifer and Jim Hathaway Jr. and his wife, Gay.