A 120-unit apartment project in North Little Rock changed hands in a $1.9 million transaction. PC Wilmington LLC of Provo, Utah, acquired the Wilmington Apartments complex at 617 Donovan Briley Blvd. from Wilmington Apartments Ltd. of Gardena, California.
The 17.1-acre development previously was linked with a May 2001 mortgage of $5.9 million held by PNC Bank of Louisville, Kentucky.
The limited partnership purchased the site in January 2001 for $528,000 (87 cents per SF). The seller was Camp Robinson Road Joint Venture, led by Jim Hathaway.
Multifamily Land
A gated apartment project is in motion in west Pulaski County after a $1.17 million land deal.
Panther Branch LLC, led by Brandon Huffman, bought 11.4 acres near the southwest corner of Kanis and Cooper Orbit roads from Alice Perryman.
The 168-unit development is backed with a three-year loan of $14 million from First Federal Bank of Harrison.
The Perryman family assembled the land in two buys from Frank and Mattie Smith, an undisclosed sum in May 1934; and Pauline Smith, $300 in June 1935.
Hillcrest Apartments
A 14-unit apartment complex in the Hillcrest area of Little Rock rang up an $880,000 sale. Jackson Street Group LLC, led by Lane Patterson, purchased the 111-121 N. Jackson St. project. The seller is S&B Corp. LLC, led by Sharon Adkins.
The deal is financed with a five-year loan of $748,000 from Little Rock’s Bank of the Ozarks.
The 0.61-acre development previously was tied to a March 2010 mortgage of $791,000 held by Summit Bank of Arkadelphia.
S&B bought the property for $665,000 more than four years ago from Brave Investments, led by Michael Stewart and Andrew Adkins.
Office Property
Medical office land in west Little Rock drew an $872,942 transaction.
Emergency Drive Medical Office Building, led by John Flake, acquired the 5.07-acre tract near the northeast corner of Kanis Road and Emergency Drive from Baptist Health.
The deal is funded with a two-year loan of $896,451 from Simmons First National Bank of Pine Bluff.
Baptist purchased the land as part of a $2,000 deal in October 1970 from Myrtle Walt, Jesse Walt Jr. and his wife, Katie, Jean Walt Stallings and James and Bettye Walt.
Downtown Apartments
A 10-unit apartment project in downtown Little Rock is under new ownership after a $315,000 sale.
Little Rock Historic Properties LLC, led by Mark Brown and Jill Judy, bought Broadway Manor Apartments at 1406 Broadway. The seller is M&S Apartments LLC, led by Mark Reynolds.
The deal is backed with a $473,200 loan from Central Bank of Little Rock. The 0.26-acre development previously helped secure a December 2012 mortgage of $487,350 from Heartland Bank of Little Rock.
The project was acquired for $220,000 in March 2003 from Broadway Manor Apartments LLC, led by Karen, Elizabeth, James and Scott Minor.
Commercial Land
A 9.05-acre commercial parcel in west Little Rock sold for $275,000.
JDMC Family Ltd., led by John D. McCracken, purchased the land on the east side of Kanis Road southeast of Baker Elementary School from Emil, Arthur and Paul Reichstadt.
The Reichstadt family bought the land in June 1948 from Robert Luck.
Office Space
A 3,073-SF piece of an office building in downtown Little Rock changed hands in a $230,000 deal. Kast Properties LLC, led by Jocelyn Stotts, acquired the sixth floor of the Centre Place Building at 212 Center St. from John and Jeanie Barron.
The deal is financed with a five-year loan of $184,000 from IberiaBank of Lafayette, Louisiana.
The property previously was linked with a May 2006 mortgage of $125,000 and a May 2007 mortgage of $100,000 held by Regions Bank of Birmingham, Alabama.
The Barrons purchased the space for $75,000 in September 1997 from Centre Street Parking Inc., led by William Daniel Thomas Jr.
High-Rise Condo I
A 14th-floor condo in downtown Little Rock rang up an $835,000 sale.
Phillip Pulley bought the 2,607-SF unit in the First Security Center at 521 President Clinton Ave. from Robert and Janice Schillinger.
The residence previously was tied to a November 2005 mortgage of $650,000 held by Bank of Little Rock Mortgage Corp. and a January 2006 mortgage of $250,000 held by Bank of Little Rock.
The Schillingers acquired the space for $617,000 in November 2004 from Clinton & Sherman Building I LLC, led by Jimmy Moses and Rett Tucker.
High-Rise Condo II
A 10th-floor condo in the Riverdale area of Little Rock drew a $750,000 transaction.
William and Peggy Marshall purchased the 2,185-SF unit from the Jackson T. Stephens Jr. Marital Trust.
The property was acquired for $470,000 in June 2003 from Security Bridge LLC, led by Kay Carter Howell.
Prospect Home
A 5,037-SF home in Little Rock’s Prospect Terrace neighborhood is under new ownership after a $725,000 sale.
Lindsay and Michael Enns bought the house from Jay and Leslie Lipke.
The deal is funded with a 30-year loan of $531,000 and a 20-year line of credit of $25,000 from Regions Bank.
The residence previously was linked with a May 2003 mortgage of $295,000 held by Metropolitan National Bank of Little Rock.
The Lipkes purchased the property for $39,000 in April 1977 from Little Rock’s Rector Phillips Morse Inc.
Maisons Abode
A 5,496-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development sold for $721,000.
Robert and Tammy Parker acquired the house from Rodney and Karen McCarver.
The deal is backed with a one-year loan of $721,000 from Simmons First National Bank. The residence previously was tied to a December 2011 mortgage of $583,200 held by U.S. Bank of Cincinnati.
The McCarvers bought the property for $703,000 in March 2006 from Belle Terre Properties Inc., led by Joe Edwards.
Country Club House
A 4,051-SF home near the Country Club of Little Rock changed hands in a $699,000 deal. John and Caroline Morgan purchased the house from James Rankin III and Ashley Rankin.
The deal is financed with a one-year loan of $699,000 from Delta Trust Mortgage Inc. of Little Rock. The residence previously was linked with an April 2009 mortgage of $331,300 held by Bank of Little Rock Mortgage Corp.
The property was acquired for $575,000 in September 2008 from Dale Dilday and Jane Briggs.
Oaks Residence
A 3,430-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development rang up a $585,000 sale. Luay Dajani bought the house from James and Melinda Markus.
The residence previously was tied to a February 2008 mortgage of $355,000 held by Providence Bank of Columbia, Missouri. It also helped secure a May 2008 mortgage of $804,800 and a November 2011 mortgage of $568,241 held by One Bank & Trust of Little Rock.
The location was purchased for $79,000 in January 2002 from Deltic Timber Corp. of El Dorado.
Morton Mortgage
A 98-bed nursing home in Sherwood is helping secure a $110 million funding agreement.
Sherwood Nursing Center Inc., led by Michael Morton, obtained the 51-month financial package from BOKF of Tulsa.
The 3.35-acre Sherwood Nursing & Rehabilitation Center development at 245 Indian Bay Drive was assembled in two transactions.
The former Westlake Living Center was acquired for $2.63 million in May 2002 from Sherwood Living Center Partnership, led by David McCollister.
An adjoining 0.98-acre parcel was added in a December 2010 transaction of $390,000 with Garrett & Garrett Inc., led by Thomas Garrett.
Placid Funding
A 56-unit retirement project in North Little Rock is backed with a $2.4 million financial package. Placid Hills Ltd., led by Stephanie, Charles and Akili Johnson and Jake Files, got the five-year loan from Centennial Bank of Conway.
The 5.27-acre Placid Hills Retirement Village development at 1001 Donovan Briley Blvd. previously was tied to an October 2012 mortgage of $1.97 million held by First Security Bank of Searcy.
The location was bought for $345,000 in December 2011 from Mechanics Lumber Co., led by Gene Pfeifer.
Seven-Digit Construction
Industrial Laundry $3,500,000
G&K Services
5510 W. 65th St., Little Rock
Arco/Murray National Construction
Downers Grove, Illinois
Cabinet Shop Renovation $1,537,000
Dassault Falcon Jet
3801 E. 10th St., Little Rock
Kinco Constructors LLC, Little Rock
