Stonehaven Purchase Surpasses $7.1 Million (Real Deals)


Stonehaven Purchase Surpasses $7.1 Million (Real Deals)
Stonehaven Assisted Living project at 101 Olympia Drive in Maumelle (Pulaski County Assessor)

The sale of a 60-unit assisted living project in Maumelle weighed in at $7.15 million.

CHG Senior Living RE Stonehaven LLC, an affiliate of Cornerstone Healthcare Group of Dallas, purchased Stonehaven Assisted Living at 101 Olympia Drive.

The seller is Stonehaven Assisted Living LLC, led by James Thomas. The deal is financed with a $5.2 million loan from First Security Bank of Searcy.

The 7.59-acre development previously was tied to a July 2005 mortgage of $4.3 million held by Farmers Bank & Trust of Camden.

Stonehaven Assisted Living acquired the site for $500,000 more than 11 years ago from Osborne Development Ltd., led by Cindy Bixler.

Trampoline Transaction
The future site of an extreme aerial sports facility in west Little Rock tipped the scales at $1.87 million.

CT BTS LLC, an affiliate of The McLain Group of Fort Smith, bought five acres at the southeast corner of Col. Glenn and Talley roads.

The sellers are Virginia Fleming Unser and Ginger Owens. Construction of the 3rd Realm project for CircusTrix is backed with an 18-month loan of $3.9 million from Chambers Bank of Danville.

The property was assembled in two intrafamily transactions with Emily Ann Fleming Dickinson, $2,000 in November 1974, and $18,000 in December 1978.

Best Value Deal
A 53-room motel in northwest Pulaski County changed hands in a $1.48 million deal.

Shanti Sai LLC, led by Harshadbhai Patel, acquired the America’s Best Value Inn at 14325 Frontier Drive.

The seller is Parkway Motel Inc., led by Kantilal Patel. The deal is funded with a $753,564 loan from Centennial Bank of Conway.

The 2.01-acre development previously was linked with a December 2011 mortgage of $645,082 held by First State Bank of Warren and a January 2010 loan of $595,000 from the U.S. Small Business Administration.

The location was bought for $280,000 in July 1998 from Ansuya Patel.

Momi Purchase
A vacant Wendy’s in Little Rock rang up a $651,000 sale.

Momi Investment LLC, led by Avtar Momi, purchased the 2,960-SF fast-food facility at 7312 Cantrell Road.

The seller is Cantrell Road Partners LLC, led by Stuart Hankins and Frank Fletcher. The deal is financed with an eight-year loan of $621,000 from Merchants & Farmers Bank of Dumas.

The 0.47-acre development was acquired in three deals totaling $130,000.

The sellers were Louise Keaton Trust No. 1 and Oscar and Dorothy Kochtitzky, $35,000 each in August 1977; and Walthour-Flake Co., led by Dickson Flake, $60,000 in August 1978.

Village Acquisition
A 42-unit condominium project in southwest Little Rock is under new ownership after a $600,000 deal. Quail Redevelopment LLC of Addison, Texas, bought Dreher Village at 8601 Dreher Lane from City National Bank of Los Angeles.

City National recovered the development at a $550,000 foreclosure sale in April 2015 from Little Rock Group LLC, led by Steven St. Clair.

The property previously was tied to a September 2007 mortgage of $1 million held by Imperial Capital Bank of La Jolla, California, and a January 2010 mortgage of $1.7 million held by Southwest Bank of Tustin, California.

Salute Sale
A 3,136-SF liquor store in west Little Rock drew a $470,000 transaction.

TaytayJack LLC, led by Paul Bowersock, acquired Salute Fine Wines & Spirits at 10700 W. Markham St. The seller is Gray-Van Inc., led by Larry Grayson.

The 0.36-acre development previously was linked with a November 2014 mortgage of $414,131 held by Arvest Bank of Fayetteville.

Gray-Van bought the project for $625,000 in April 2005 from Lunar Management Co., led by Martha Morrow.

Home Instead
A 3,462-SF office building in downtown Little Rock sold for $450,000.

Skills For 21st Century LLC, led by Matt McClure, purchased the 909 Cumberland St. project to house his Home Instead Senior Care offices. The seller is Little Rock Historic Properties LLC, led by Mark Brown and Jill Judy.

The deal is backed with a five-year loan of $455,000 from Stone Bank of Mountain View.

The 0.23-acre development previously was tied to a February 2014 mortgage of $178,400 held by Central Bank of Little Rock.

The property was acquired for $42,000 in October 2013 from Karan and David Hearn.

Dental Development
A 1,658-SF clinic in the Heights area of Little Rock changed hands in a $400,000 deal.

HDC Holdings LLC, led by Christopher Houk, bought the Heights Dental Clinic at 1919 N. Fillmore St. The seller is K Smith LLC, led by Kathleen Smith.

The deal is funded with a 10-year loan of $400,000 from Simmons Bank of Pine Bluff.

The 0.09-acre development was purchased for $150,000 in January 2005 from Don Downs.

Maumelle Parcel
A 0.52-acre commercial site in Maumelle rang up a $265,000 sale.

Prachi Investment Inc., led by Dipesh Patel, acquired the property near the northwest corner of Maumelle Boulevard and Town Centre Drive. The seller is Sears Construction Development & Leasing LLC, led by Todd Sears.

The deal is backed with a one-year loan of $198,750 from Arvest Bank. The property previously secured a June 2013 mortgage of $215,000 held by First Security Bank.

The land was bought for $227,000 in December 2007 from Bob Fewell.

Office Buy
A 2,349-SF office building in downtown Little Rock is under new ownership after a $260,000 deal.

807 West Third Street LLC, led by Pat James and Matthew House, purchased its namesake project from David and Linda Hargis.

The deal is funded with a 15-year loan of $260,000 from BancorpSouth Bank of Tupelo, Mississippi. The 0.1-acre development previously was linked with a July 2008 mortgage of $100,000 held by Centennial Bank.

The property was acquired for $175,000 in July 1996 from the Catlett & Catlett Building Venture, led by Leon Catlett.

Overlook Manor
A 6,385-SF home in Little Rock’s Overlook neighborhood weighed in at $1.35 million.

Duane and Angela Birky bought the house from the Lee Bodenhamer Trust.

The deal is financed with a 25-year loan of $1.2 million from BancorpSouth Bank.

The location was purchased in December 2006 as part of a $1 million transaction with Moosehead Advertising Co., led by Patricia and Gary Green.

Bretagne Manor
A 6,245-SF home in the Bretagne Circle neighborhood of west Little Rock’s Chenal Valley development drew a $710,000 transaction.

Samuel and Kelly Bledsoe bought the house from the Ramey Joint Revocable Trust, led by Frank and Linda Ramey.

The deal is backed with a one-year loan of $639,000 from Red River Bank of Alexandria, Louisiana.

The location was purchased for $106,000 in May 1997 from Scott and Linda Zust.

Club House I
A 2,745-SF home near the Country Club of Little Rock sold for $620,000. MW Living Trust, led by Megan Wooster, acquired the house from Gregg and Paige Day.

The deal is funded with 30-year loans of $417,000 and $141,000 from Bank of Little Rock Mortgage Corp.

The Days bought the residence for $585,000 in November 2015 from David and Shay Matthews.

Heights Home
A 2,734-SF home in Little Rock’s Country Club Heights neighborhood changed hands in a $595,000 deal.

Charles Martin and Chloe Ward purchased the house from Charles and Beth Porter.

The deal is financed with a 30-year loan of $417,000 from Eagle Bank & Trust of Little Rock.

The Porters acquired the residence for $500,000 in November 2014 from Mark Meador and Wanda Meador.

Club House II
A 3,004-SF home near the Country Club of Little Rock rang up a $583,000 sale.

M.L. Shannon bought the house from Laura Landreaux. The deal is backed with a 30-year loan of $466,400 from U.S. Bank of Cincinnati.

The residence previously was tied to a May 2010 mortgage of $353,500 held by Wells Fargo Bank of Sioux Falls, South Dakota.

Landreaux purchased the property for $560,000 in July 2007 from Michael Shelby and Amy LaFrance Bancroft.

Mirabel Residence I
A 3,950-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $570,300 transaction.

Richard Rogala Jr. and his wife, Sharon, acquired the house from Byron Holmes Construction Inc.

The deal is funded with a five-year loan of $417,000 from Malvern National Bank. The residence previously was linked with a February 2016 mortgage of $452,000 held by Central Bank.

The location was bought for $79,914 a year ago from Turner & Sons Co., led by John Turner.

Midland House
A 5,262-SF home in Little Rock’s Midland Hills neighborhood drew a $568,000 transaction.

Christopher and Amy Benton purchased the house from Michelle Cauley. The deal is financed with a 30-year loan of $538,203 from IberiaBank Mortgage of Lafayette, Louisiana.

The residence previously was tied to a June 2012 mortgage of $100,000 and a July 2013 mortgage of $411,250 held by IberiaBank Mortgage.

Cauley acquired the property for $465,000 in June 2011 from James Pawelak.

Ranch Valley Abode
A 3,471-SF home in Little Rock’s Ranch Valley neighborhood sold for $567,000.

Charles and Elizabeth Porter bought the house from Robert Neighbors Jr. and his wife, Rebecca.

The deal is backed with a 30-year loan of $405,000 from Simmons Bank. The residence previously was linked with a December 2015 mortgage of $125,000 held by BancorpSouth Bank.

The Neighbors family purchased the property for $190,000 in July 2011 from Michael and Ginger Townsend.

Woodland’s House
A 3,609-SF home in Woodland’s Edge neighborhood of west Little Rock changed hands in a $558,000 deal.

Konstantinos Arnaoutakis and Marie Mesidor acquired the house from Jill Compardo. The deal is funded with a 25-year loan of $530,100 from Regions Bank of Brimingham, Alabama.

The residence previously was tied to an August 2014 mortgage of $417,000 held by Simmons Bank.

The location was bought for $75,000 in September 2013 from Rocket Properties LLC, led by Ron Tyne and Lisenne Rockefeller.

Mirabel Residence II
A 3,675-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development rang up a $515,000 sale.

Richard and Tracy David purchased the house from J. Martin Homes Inc., led by Gregory Cates. The deal is financed with a 20-year loan of $425,000 from Doris David of New Roads, Louisiana.

The residence previously was linked with a December 2015 mortgage of $428,000 held by First Security Bank.

The location was acquired for $82,000 13 months ago from Deltic Timber Corp. of El Dorado.

Oaks Residence
A 2,796-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $515,000 transaction.

Richard and Patricia Macy bought the house from the Rodney Chandler Living Trust. The deal is backed with a 30-year loan of $386,250 from Bank of Little Rock Mortgage.

The residence previously was tied to a January 2015 mortgage of $371,000 held by IberiaBank Mortgage.

The location was purchased for $85,000 in May 2012 from One Bank & Trust of Little Rock.

Seven-Digit Construction

Movie Tavern    $9,800,000
11300 Bass Pro Parkway, Little Rock
VCC LLC, Little Rock

New House    $1,650,000
25 Spring Valley Lane, Little Rock
Kevin Hughes Construction Co., Little Rock

Office Addition-Renovation    $1,200,000
321 Maple St., North Little Rock
PDC Construction Inc., Little Rock