North Little Rock’s Simply Home Inn & Suites at 110 E. Pershing Blvd.
A 55-room motel in North Little Rock tipped the scales at $1.3 million.
Shree Mahalaxmi Corp. of Humble, Texas, bought the Simply Home Inn & Suites at 110 E. Pershing Blvd. from KMP LLC, led by Kolila Patel.
The 1.2-acre development previously was linked with a September 2014 mortgage of $438,958 held by State Bank of Texas in Dallas.
KMP acquired the site for $342,000 in June 1997 from Crossroads Shopping Center LLC, led by Warren Stephenson and Jim May.
Dollar Deal
A Dollar General store in Little Rock rang up a $1.28 million transaction.
Dollar Little Rock LLC of Highland Park, Illinois, purchased the 3500 John Barrow Road project from PB General Holdings (Barrow) LLC, led by Leonard Boen.
The 1-acre development previously was tied to an October 2014 mortgage of $970,450 held by Bear State Bank of Harrison.
The site was bought for $189,000 eight months ago from Billy and Joyce Trimble.
Heights Retail
A 3,120-SF retail project in the Heights area of Little Rock changed hands in a $700,000 deal.
Satellite Heights Real Estate LLC, led by Keith Holland, acquired the Mamacita’s Bar & Grill location at 5923 Kavanaugh Blvd.
The seller is the Dutton Family Trust, led by William and Nancy Hall Dutton.
The deal is financed with a five-year loan of $508,000 from Little Rock’s Bank of the Ozarks.
The 0.23-acre development is the former home of Hall’s Drug Store. The Hall family’s ownership dates back to May 1945 when J.V. and Ruth Hall purchased the property from G.E. and Margaret Jernigan.
NLR Property
A 3.81-acre commercial site in eastern North Little Rock sold for $400,000.
TRL Properties LLC, led by Todd Havens, bought the land at the northeast corner of U.S. 70 and Highway 391.
The sellers are the Clifton Family LLLP, led by Norman Clifton; and Isbell Land Sales LLC, led by Terry Isbell.
The property was acquired for $185,000 in June 2005 from Wayne and Saleta Wagner.
Main Acquisition
A 4,833-SF building in downtown Little Rock is under new ownership after a $350,000 transaction.
South Main Holding LLC, led by Valerie Wingert and Carl Evans, purchased the 1600 Main St. project.
The seller is Tomcat Holdings LLC, led by Spencer Elmen and Steven Wait.
The deal is backed with a $510,300 loan from Arkansas Capital Corp. of Little Rock. The 0.17-acre development previously helped secure an April 2007 mortgage of $494,000 held by Arvest Bank of Fayetteville.
Tomcat Holdings bought the property for $250,000 more than eight years ago from Jimmy Crossfield.
Loop Transaction
A 1-acre commercial property in west Little Rock drew a $260,000 sale.
Hinson Loop Properties LLC, led by Stephen Leek, acquired the 1,375-SF project at 1909 Hinson Loop Road from the Denzil Max Yarbough Jr. Revocable Trust.
The deal is funded with a $208,000 loan from Centennial Bank of Conway.
The property was purchased for $44,000 in August 1974 from Alyie Tuggle and Jeanne Buck.
Hickory Home
A 4,549-SF home in west Little Rock’s Hickory Creek neighborhood weighed in at $1.2 million. Michael and Jerene Montgomery bought the house from Martha Smith.
The deal is financed with a five-year loan of $875,000 from Union Bank & Trust of Monticello.
The residence was acquired for $725,000 in November 1996 from Clint Boshears Realty Inc.
Accadia Residence
A 5,517-SF home in the Accadia Court neighborhood of west Little Rock’s Chenal Valley development rang up an $830,000 sale.
Johnathan and Christie Boils purchased the house from the Dillon Group Inc., led by Janet Dillon.
The deal is backed with a 25-year loan of $664,000 from Regions Bank of Birmingham, Alabama. The residence previously was linked with a January 2014 mortgage of $664,000 held by Centennial Bank.
The location was bought for $111,000 in August 2013 from Robert Cearley Jr. and his wife, Sarah.
Heights House
A 3,285-SF home in the Heights area of Little Rock changed hands in a $684,000 deal.
Caroline Reynolds and Bobby Kakati acquired the property from John and Victoria Starling. The deal is funded with a 25-year loan of $649,800 from Regions Bank.
The residence previously was tied to July 2011 mortgages of $417,000 held by Bank of Little Rock Mortgage Corp. and $124,500 held by Delta Trust & Bank of Little Rock.
The Starlings purchased the property for $570,000 in July 2011 from Delta Trust & Bank.
Grandview Abode
A 4,237-SF home in the Grandview neighborhood sold for $670,000.
Crata Castleberry and David McCullough bought the house from Randolph and Lisa Nicklas.
The deal is financed with a 15-year loan of $324,000 from Bank of the Ozarks. The residence previously was linked with an October 2013 mortgage of $417,000 held by Delta Trust Mortgage Inc. of Little Rock.
The Nicklas family acquired the property for $614,000 19 months ago from Larry and Sheila Vaught.
Hotel Financing I
A 149-room hotel in west Little Rock was used to help secure a $670 million funding agreement.
Two Dallas limited partnerships, CBM Two Hotels Ltd. and C2 Land Ltd., both led by Charles Lathem, received the loan from German American Capital Corp. of New York.
The 4.3-acre Courtyards by Marriott at 10900 Financial Centre Parkway site was purchased for nearly $2.3 million in December 2005 from Essex House Condominium Corp. of Bethesda, Maryland.
Warehouse Mortgage
The owner of the 9.3-acre Boen Business Park development in west Little Rock picked up a $6.86 million financial package.
CG Corporate LLC, led by Stephen LaFrance Jr. and Jason LaFrance, obtained the 10-year loan from Relyance Bank of Pine Bluff.
The two 61,500-SF warehouses at 10600 and 10620 Col. Glenn Road were bought for $8.05 million in March 2010 from 10600 Colonel Glenn LLC and 10620 Colonel Glenn LLC, both led by Gene Cauley.
Hotel Financing II
A 71-room hotel in midtown Little Rock was refinanced with a $2.24 million mortgage.
Marchant & Reese Hotels LLC, led by John Reese, got the five-year loan from Central Bank of Little Rock.
In addition to the St. Vincent GuestHouse Inn at 301 S. University Ave., the debt is secured by a 0.75-acre apartment project at 115 N. Taylor St. and 5511-15 A St. and the 0.38-acre Marchant Group office project at 5410 W. Markham St.
The properties previously were tied to a July 2009 mortgage of $2.3 million held by Central Bank.
Control of the leased GuestHouse property dates back to a June 1992 deal with the Resolution Trust Corp. as receiver for United Federal Savings & Loan Association of Jonesboro.
The thrift made a $2.2 million project loan in 1985 to Medical Center Guesthouse of Little Rock Ltd., led by Harvey Komet.
The apartment property was assembled in two deals totaling $650,000. The sellers were C.E. Partners Ltd. Four, led by Charles Menard, $400,000 in January 1998; and Betty Henry, $250,000 in July 1997.
The Marchant Group property was assembled in three transactions totaling $97,000. The sellers were John and Dorothy Fulmer, $49,000 in May 1996; Howell Lam, $40,000 in November 2007; and Robert Jerry Jr. and his wife, Sherri, $8,000 in September 2006.
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