WLR Apartment Land Draws $2.5M Sale (Real Deals)


WLR Apartment Land Draws $2.5M Sale (Real Deals)

A future apartment site in west Little Rock weighed in at $2.5 million.

Madison at Chenal LLC, led by Brandon Huffman and Graham Smith, bought the 5,000-SF office-warehouse at 15500 Kanis Road and an adjoining 12.8-acre tract. The seller is Winrock Enterprises Inc., led by Russ McDonough III.

The deal is financed with a $5 million loan from the Barnes Revocable Trust, led by James and Terry Barnes.

Winrock acquired the combined 13.4-acre property for $245,000 in March 2001 from McMann Inc., led by Daniel McNamara.

Dealership Site
Property for an equipment dealership in southwest Little Rock tipped the scales at $1 million.

Stribling Equipment LLC of Richland, Mississippi, purchased the 9,316-SF City of Fire Ministry project at 10504 Interstate 30 and the 10,120-SF strip center at 10510 Interstate 30.

The seller is Atkinson Properties LLC, led by Russell and Richard Atkinson.

The 5.49-acre development previously was tied to a February 2013 mortgage of $458,177 held by Central Bank of Little Rock.

Atkinson bought the property for $560,000 in January 2002 from William and Ruth Huffstutlar.

Tacos Transaction
A restaurant site in west Little Rock rang up a $775,000 sale.

Tacos 4 Life Real Estate LLC, led by Austin Samuelson, acquired the 1-acre location on Shackleford Road between Longhorn Steakhouse and Boomerang Carwash.

The seller is Shackleford Crossings Investors LLC, an affiliate of Invesco Real Estate of Dallas. Construction is backed with a 10-year loan of $1.75 million from Arvest Bank of Fayetteville.

The property previously helped secure a February 2015 mortgage of $36.2 million held by ZB of Salt Lake City.

Shackleford Crossings Investors entered the ownership picture in July 2011 at a $42 million foreclosure sale after buying the project debt in May 2011 for an undisclosed sum.

The deal included the 271,675-SF Shackleford Crossings lifestyle center and undeveloped outparcels totaling about 8.7 acres that were used to secure debt of $57.4 million held by the project’s construction lender, M&I Marshall & Ilsley Bank of Milwaukee.

Gallery Purchase
A 2,200-SF commercial building in the Heights area of Little Rock changed hands in a $699,000 transaction.

Cude Properties LLC, led by Travis and Jennifer Cude, bought the Heights Gallery project at 5801 Kavanaugh Blvd. The seller is Onkav LLC, led by Gary Childers.

The deal is funded with a five-year loan of $594,150 from Simmons Bank of Pine Bluff.

The 0.08-acre development previously was linked with a June 2015 mortgage of $456,000 held by IberiaBank of Lafayette, Louisiana.

Onkav acquired the property for $545,000 in March 2014 from Mitchell and Lee-Ann Jansonius.

Lomanco Buy
A 7,436-SF bar in Jacksonville is under new ownership after a $548,000 sale.

Lomanco Inc., led by Chris Grimes, purchased Big D’s Sports Bar at 2221 W. Main St. from Danny Martindill. The 1-acre development previously helped secure a May 2015 mortgage of $566,040 held by Centennial Bank of Conway.

The property was bought for $110,000 in September 1980 from B.K.R. Enterprises Inc., led Bobby Isbell.

Residential Acreage
A 40.3-acre residential tract in west Little Rock drew a $500,000 transaction.

D. Vincent investments LLC, led by Dale Briggs, acquired the land between the south end of Beckenham Drive and the north end of Belle Pointe Drive from Megyn Bell.

Uncle Sam received $100,000 of the sale in connection with a long-running income tax dispute with Bell’s late father, Melvyn Bell.

The land was purchased for $188,000 in January 1984 from the M.W. Kay Inter Vivos Trust and the Manie Schuman Trust.

Hickory Residence
A 4,788-SF home in west Little Rock’s Hickory Hills neighborhood weighed in at $1.25 million.

The Susan Cobb Underwood Revocable Trust bought the house from the Donna Kay Clark Trust.

The residence was acquired for $1.15 million in February 2006 from the Louis Gladfelter Revocable Trust.

River Oaks Abode
A 6,814-SF home in Little Rock’s River Oaks neighborhood changed hands in a $905,500 foreclosure sale.

Bo Ventures LLP, led by Richard O’Brien, purchased the house. The previous owners were Lewis and Debra May.

The residence previously was tied to an August 2003 mortgage of $935,000 originated by First Arkansas Bank & Trust of Jacksonville. It also secured a series of 2009 mortgages held by First Arkansas, $98,555; Summit Bank of Arkadelphia, $100,000; and Regions Bank of Birmingham, Alabama, $250,000.

The Mays bought the property for $210,000 in January 1996 from Alta Hale.

Woodland’s House
A 4,017-SF home in the Woodland’s Edge neighborhood of west Little Rock sold for $651,258.

Darin and Tamela Gray acquired the house from HRH Builders Inc., led by William Darby.

The deal is financed with a 30-year loan of $553,550 from Centennial Bank. The residence previously was linked with a September 2015 mortgage of $434,400 held by Little Rock’s Bank of the Ozarks.

The location was purchased for $80,000 11 months ago from Rocket Properties LLC, led by Lisenne Rockefeller and Ron Tyne.

Robinwood Home
A 3,876-SF home in Little Rock’s Robinwood neighborhood rang up a $600,000 transaction.

William and Lesley Callahan bought the house from Kyle and Terri Patton. The deal is backed with a $250,000 loan from Centennial Bank.

The residence previously was tied to a July 2014 mortgage of $195,865 held by Union Bank & Trust of Monticello.

The Pattons acquired the property for $530,000 in March 2005 from William Stover II and his wife, Donna.

Heights Domicile
A 2,517-SF home in the Heights area of Little Rock is under new ownership after a $550,000 sale.

Jane Ann Fortenberry purchased the house from Rush Harding IV and his wife, Rachel.

The deal is funded with a 30-year loan of $440,000 from Bank of America in Charlotte, North Carolina. The residence previously was linked with a December 2011 mortgage of $344,000 held by First Security Bank of Searcy.

The Hardings bought the property for $430,000 nearly five years ago from John and Miranda Bennett.

Cypress Residence
A 4,063-SF home in west Little Rock’s Cypress Point neighborhood drew a $535,000 transaction.

Richard Griffiths acquired the house from Mark and Trisha Guenther.

The deal is financed with a 30-year loan of $417,000 from Riverside Mortgage Co. of Little Rock.

The residence previously was tied to a January 2013 mortgage of $114,250 held by IberiaBank Mortgage Co. of Lafayette, Louisiana, and a May 2016 mortgage of $366,400 held by BancorpSouth Bank of Tupelo, Mississippi.

The Guenthers purchased the location for $60,000 in July 2002 from Ranch Properties Inc., led by Ed Willis.

Seven-Digit Construction

Arkansas Urology    $4,890,730
1310 Centerview Drive, Little Rock
Clark Contractors LLC, Little Rock

Renovation Cinemark Theater    $2,430,000
18 Col. Glenn Plaza Drive, Little Rock
Bailey Construction & Consulting LLC, Little Rock

New House    $1,385,000
73 Sologne Circle, Little Rock
Taggart Design & Build LLC, Little Rock