A 260-unit apartment complex in west Little Rock tipped the scales at $31.58 million.
Stonebridge At The Ranch Apartments Owner LLC, an affiliate of RAIT Financial Trust of Philadelphia, bought its namesake project at 1 Stonebridge Circle.
The seller is Stonebridge Little Rock LLC, an affiliate of RAIA Properties of Ramsey, New Jersey.
The 14.83-acre development previously was linked with two April 2006 mortgages totaling $17 million held by Column Guaranteed LLC of New Orleans.
Stonebridge Little Rock acquired the project for $24.2 million in January 2006 from Stonebridge Ranch Ltd. of San Antonio.
Walgreens Acquisition
The sale of a west Little Rock Walgreens weighed in at $6.2 million.
Gary and Joan Cohen of Valencia, California, purchased the 14,880-SF project at 8815 Stagecoach Road from STAMJA-DT AR Properties LLC, led by Jason LaFrance.
The deal is funded with a $5.1 million loan from Amegy Bank of Houston, Texas.
The 1.8-acre site was bought for $1.1 million in August 2009 from Hwy 5/Otter Creek Investments LLC, led by Gene Cauley.
Book Building
An 87,100-SF warehouse in the Little Rock Port area is under new ownership after a $2.55 million transaction.
6700 Sloane LLC, led by Terry Barnes, acquired the 6700 Sloane Drive project. The seller is Educators Book Depository of Arkansas Inc., led by Barry Burks.
The corporation purchased the 6.93-acre site in June 1998 from the City of Little Rock for $107,000.
Dealership Purchase
A tractor dealership in Sherwood changed hands in a $1.8 million sale.
TTC Realty LLC of Texarkana, Texas, led by James Carlow, bought the 4.25-acre development at 7200 Landers Road project an adjoining 1.74-acre parcel. The seller is Sherwood Tractor Property LLC, led by Danny and Donna Montgomery.
The deal is backed with a five-year loan of $4.5 million from Twin Lakes Community Bank of Flippin.
The 12,650-SF facility previously was tied to an August 2014 mortgage of $3.8 million held by the bank.
Sherwood Tractor Property acquired the property for $1.7 million eight months ago from the Douglas & Sheree Meyer Family Revocable Trust.
Dollar Transaction
A Dollar General store in Sherwood rang up a $715,000 transaction.
The John Cleveland Baker III Amended Trust No. 1 purchased the 9,000-SF project at 14929 Hwy. 107 from Long-Watson-Long Development LLC, led by Rodney Watson.
The deal is financed with a three-year loan of $265,000 from Simmons First National Bank of Pine Bluff.
The 0.83-acre development previously was linked with a December 2005 mortgage of $495,000 held by U.S. Bank of Cincinnati.
Long-Watson-Long bought the property for $290,000 in November 2004 from Wanda and Alf Langston, Carolyn and Donald Jackson and Shirley and James Cook.
Four-Piece Property
Adjoining commercial properties in the Hillcrest area of Little Rock drew a $685,000 sale.
Markham Harrison Properties LLC, led by Bryan Duke, acquired two buildings, a house and parking area from Bert and Laura Miller.
The 0.62-acre property includes a 4,286-SF building at 5302 W. Markham St., a 2,735-SF building at 5300 W. Markham St. and a 1,144-SF house at 5301 A St.
The deal is funded with a one-year loan of $685,000 from First Security Bank of Searcy.
The Millers bought the commercial property for $275,000 in June 1994 from the Lillian P. Cloud Trust. The house was purchased for $45,000 in December 1996 from the estate of Laura Wygai.
Office Land
A 2.32-acre commercial site in west Little Rock shifted ownership in a $300,000 transaction.
Capital Properties LLC, led by Gus Blass III, and the Robert A. Vogel Revocable Trust bought the land at the southwest corner of Kanis Road and Centerview Drive.
The seller is Phillips Development Corp., led by Elizabeth Small.
The property is part of an 89-acre tract the three parties acquired in June 1995 from the Federal Deposit Insurance Corp. for $2.63 million.
Jiffy Sale
A Jiffy Lube location in Little Rock sold for $200,000.
Raines Bros Development Co. LLC of Ashburn, Georgia, purchased the 3124 S. University Ave. property from Barclay Property LLC, led by William Barclay Jr.
The 0.29-acre development previously was used to help secure a June 2014 mortgage of $989,626 held by Centennial Bank of Conway.
The property was bought in April 2005 as part of a $1 million deal with Jiffy Lube International of Maryland Inc. of Houston, Texas.
Residential Acreage
Undeveloped acreage in west Pulaski County changed hands in a $155,000 deal.
Henry and William Giggleman acquired 47 acres a mile west of Roland from Timberland Bancshares Inc., led by Tandy Menefee.
Timberland recovered the land in November 2009 from Proverbs Properties LLC, led by Terry Gheta.
The acreage was tied to a November 2005 mortgage of $249,724 held by Timberland Bank of El Dorado.
Hillcrest Home
A 5,600-SF home in Little Rock’s Hillcrest neighborhood rang up a $650,000 transaction.
Christopher and Margaret Young bought the house from Philip A. Kern and Joan McEwen Joint Revocable Trust.
The deal is backed with a 30-year loan of $418,000 from Fairway Independent Mortgage Corp. of Plano, Texas.
The residence previously was linked with a December 2008 mortgage of $115,025 held by Charter One of Providence, Rhode Island, and a December 2011 mortgage of $321,900 held by Wells Fargo Bank of Sioux Falls, South Dakota.
The property was acquired for $335,000 in August 1995 from the Howard Ashley Ted Bailey Revocable Trust.
Concrete Funding
A 2.85-acre concrete development in Sherwood is helping secure a $30 million financial package.
Concrete Pumping Property Holdings LLC of Los Angeles obtained the funding agreement through Cortland Capital Market Services LLC of Chicago.
The 3,900-SF facility at 8908 Landers Road was purchased for $500,000 in January 2007.
The seller was Zumwalt Family LLC, led by Joan Zumwalt.
Multifamily Mortgage
A 216-unit apartment complex in North Little Rock was refinanced with a $28 million mortgage.
Burkhalter FBN LLC, led by John Burkhalter, received the seven-year loan from Centennial Bank.
The 12-acre Fountaine Bleau North development at 4401 E. 46th St. previously tied to an April 2013 mortgage of $26.5 million held by Jonesboro’s Liberty Bank of Arkansas.
The location near the northeast corner of Smokey Lane and 46th Street was acquired for $555,000 in June 2011 from Osborne Leasing Inc., led by Bobby Osborne.
Kappa Refinance
The owner of a 147,163-SF shopping center in the Riverdale area of Little Rock landed a $5.5 million financial package.
Kappa Realty LLC, led by Christopher Robertson, received the loan from Far-mers & Merchants Bank of Stuttgart.
The near 18.5-acre Riverdale Center development at 2500 Cantrell Road previously was linked with a July 2005 mortgage of $6.1 million originated by First Community Bank of Jonesboro.
Kappa bought the project for $4.2 million in November 1993 from New York Life Insurance Co.
Bella Rosa Loan
The owner of a mixed-use commercial project in west Little Rock picked up a $4.6 million funding agreement.
Bella Rosa Commerce Center LLC, led by Kris Upton, got the five-year loan from One Bank & Trust of Little Rock.
The 7.6-acre development at 16101 Cantrell Road previously was tied to a December 2011 mortgage of $3.6 million held by First Security Bank.
The Bella Rosa Commerce Center was purchased for $4.5 million in May 2006.
The seller was Highway 107 Associates LLC, led by James May III and Warren Stephenson.
The project is broken into 30,000 SF of office, 29,000 SF of warehouse and 24,000 SF of mini-storage space.
Million-Dollar Construction
FedEx Distribution Facility $17,360,716
8 Industrial Parkway, Little Rock
BC Construction Group, Livingston, Michigan
Regions Bank Branch $1,050,000
17615 Chenal Parkway, Little Rock
Massey Construction, Little Rock
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