The former Gallery 360, shown above, has been demolished to make room for Natural State Wellness Dispensary at 900 S. Rodney Parham Road in Little Rock.
Related entities paired up to acquire two west Little Rock apartment projects for $10.55 million each.
Little Rock Ventures I LLC, an affiliate of DLP Capital Partners of St. Augustine, Florida, and Charal Little Rock I LLC of Sarasota, Florida, bought the 239-unit Pleasant Pointe Apartments at 1602 Green Mountain Drive.
Little Rock Ventures II LLC and Charal Little Rock II LLC purchased the 211-unit Valley Crossing Apartments at 1502 Green Mountain Drive.
The sellers are MIMG LXXXIII Pleasant Pointe Sub LLC and MIMG LXXXIII Valley Crossing Sub LLC, affiliates of Monarch Investments of Franktown, Colorado.
The deals involved the assumption of two October 2015 Fannie Mae mortgages with balances of $7.1 million.
The two complexes were acquired for $9 million each nearly four years ago from an investment group led by RRE Reserves Holdings LLC, an affiliate of Resource Real Estate of Philadelphia.
Planned Purchase
A 7,435-SF medical office building in west Little Rock sold for $1.31 million.
Planned Parenthood of Arkansas & Eastern Oklahoma Inc. purchased the Arkansas Foot & Ankle Clinic at 1501 Aldersgate Road from Gold Family Rental Properties LLC, led by Allan and Laura Gold.
Gold Family Rental bought the 1.31-acre development for $1.1 million in August 2007 from Aldersgate Property LLC, led by Gary Tharp.
Riverdale Retail
A 4,594-SF commercial project in Little Rock’s Riverdale area drew a $500,000 transaction.
TFR Properties LLC, led by Edward and Laurie David, acquired the Bullard’s Liquor and About Vase property at 3400-3402 Old Cantrell Road from Roy and Karen Bullard.
The deal is financed with a $467,500 loan from Centennial Bank of Conway.
The 0.68 development was purchased for $210,000 in November 1978 from Habeas Corp., led by Griffin Smith.
Cannabis Redevelopment
A 2,512-SF eclectic art gallery and adjoining land in west Little Rock rang up a combined $226,000 sale to a purveyor of medical marijuana.
BRLS Properties AR-Little Rock LLC, an affiliate of Harvest Health & Recreation Inc. of Tempe, Arizona, bought the Gallery 360 at 900 S. Rodney Parham Road. The seller is Gallery B Inc., led by John Magee.
BRLS also purchased an adjoining 0.14-acre parcel for $26,000 from Arjay Properties LLC, led by Ralph Friedmann III and Karl Friedmann.
Gallery B bought its property in August 2002 for $94,000 from Wilton Treadway Sr. and his wife, Sarabelle. Arjay acquired its land in July 2002 as part of a $50,000 deal with the Treadways.
Shadowlawn Home
A 3,817-SF home in Little Rock’s Shadowlawn neighborhood changed hands in a $960,000 deal. John and Stacy Grobmyer purchased the house from Sarah Henry.
The deal is funded with a 30-year loan of $760,000 from Bank of England.
The property was bought for $205,000 in April 1989 from James and Corinne Beard.
Riverbend Residence
A 3,021-SF home in Little Rock’s Riverbend neighborhood is under new ownership after an $845,000 transaction.
The namesake residence trust of Joseph and Donna Bates acquired the house from the Barbara Darragh Revocable Trust.
The property was purchased for $190,000 in February 1991 from Virginia Bailey.
Country Club House
A 4,001-SF home near the Country Club of Little Rock sold for $711,000.
William and Marisa Thames bought the house from James and Patricia McClelland. The deal is backed with a 30-year loan of $639,900 from U.S. Bank of Cincinnati.
The McClellands acquired the property for $125,000 in May 1992 from Kenneth and Linda Shollmier.
Ensbury Place I
A 4,219-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development drew a $672,500 transaction.
The namesake joint revocable trust of Matthew and Julie Hardee purchased the house from HA Custom Homes LLC, led by Subrahmanyam Narravula.
The deal is financed with a 25-year loan of $538,000 from Regions Bank of Birmingham, Alabama. The residence previously was tied to a $524,000 mortgage held by BancorpSouth Bank of Tupelo, Mississippi.
The location was bought for $88,000 in December 2017 from Deltic Timber Corp. of El Dorado.
Maisons Abode
A 5,504-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development rang up a $650,000 sale.
Mark and Aundrea Stevens acquired the house from the Hays Family Revo-cable Trust, led by Joe and Patricia Hays.
The deal is funded with a 30-year loan of $560,000 from IberiaBank of Lafayette, Louisiana.
The residence was purchased for $650,000 in June 2005 from Chenal Valley Construction Inc., led by Jim Miles.
Ensbury Place II
A 3,575-SF home in the Ensbury Place neighborhood changed hands in a $589,000 deal. Kenneth and Donna Kraft bought the house from Dumont Construction LLC, led by Larry Evans and Brian Dumont.
The deal is backed with a 30-year loan of $471,000 from Bank of Little Rock Mortgage Corp.
The residence previously was linked with an April 2018 mortgage of $393,250 held by Little Rock’s Bank OZK.
The site was acquired for $91,000 in December 2017 from Deltic Timber.
The Ranch
A 3,165-SF home in The Ranch neighborhood of west Little Rock is under new ownership after a $550,000 transaction.
Kevin and Christie Chapman purchased the house from Penny Beebe.
The deal is financed with a 30-year loan of $400,000 from First Community Bank of Batesville.
The residence was bought for $600,000 in February 2008 from Steve and Patricia Roberson.
Mirabel Court
A 3,618-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development sold for $540,000.
Edward and Becky Mrachek acquired the house from Maroun and Kay Farah. The deal is funded with a 30-year loan of $484,350 from Highlands Residential Mortgage Ltd. of Dallas.
The Farahs purchased the residence for $535,000 in February 2017 from Randy James Construction Co.
Normandy Abode
A 3,102-SF home Little Rock’s Normandy neighborhood drew a $532,000 transaction.
William and Claire Beaumont bought the house from Rachel and Hamilton Kemp. The deal is backed with a 15-year loan of $425,600 from First Financial Bank of El Dorado.
The residence previously was tied to an August 2014 mortgage of $344,000 held by Morgan Stanley Private Bank of Purchase, New York.
The property was acquired five years ago from the Robert L. Bond Living Trust for $344,00.
Courts House
A 3,809-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development rang up a $512,000 sale.
Zheng Ping and Qin Li purchased the house from Kevin and Susan Mackenzie. The deal is financed with a 30-year loan of $512,000 from SunTrust Bank of Atlanta.
The Mackenzies bought the residence for $485,000 in August 2005 from Tekton Builders LLC, led by Todd Anderson.
Sign up for Daily E-news
