Auto Dealership Buys Surpass $41 Million (Real Deals)

Auto Dealership Buys Surpass $41 Million (Real Deals)
North Point Ford at 4400 Landers Road in North Little Rock.

A series of auto transactions in Pulaski County added up to $41.5 million.

Affiliates of Little Rock’s McLarty Auto Group bought four auto properties from affiliates of Asbury Automotive Group of Duluth, Georgia.

The deals are funded with a $35.2 million loan from SunTrust Bank of Atlanta.

MAG-AR 4400 Landers Road LLC purchased North Point Ford at 4400 Landers Road and North Point Lincoln at 4336 Landers Road in North Little Rock from Asbury Automotive Arkansas Dealership Holdings LLC for $14.4 million.

The property was assembled in three deals:

• $11.5 million for the 14.39-acre dealership in May 2011.

Seller: NPF Holdings LLC, a McLarty family entity.

• $275,000 for a 0.28-acre parcel on Smokey Lane in November 2006.

Sellers: Adams Trust and the Credit Shelter Trust, both led by Alice Faye Adams.

• $141,000 for 1.62 acres on Newman Drive in July 2000.

Seller: An investment group composed of James Dietz, Hershel Bowman, Douglas W. Ashcraft; CBM Construction Co., led by Clark McGlothin; Dennis Jungmeyer; Hal Matthews; Rablaco LLC, led by Tom Cory; R-4 Enterprises Inc., led by Raymond Roberts; Seymour Real Estate LLC, led by Mike Seymour; Dow Worsham II; and Arkansas Precast Corp. of Jacksonville.

MAG-AR 4313 Landers Road LLC acquired North Point Toyota at 4313 Landers Road in North Little Rock from Asbury Automotive Arkansas Dealership Holdings for $12.1 million.

The 12.11-acre development previously was tied to an October 2013 mortgage of $5.5 million held by Toyota Motor Credit Corp. of Torrance, California.

Asbury assembled half of the property in deals totaling $2.3 million. The sellers were Fletcher Realty LLC, led by Frank Fletcher, $1.5 million for the 2.4-acre Frank Fletcher Chrysler Jeep location at 4313 Landers Road in January 2006; Davidson Holding Co., led by Skip Davidson, $1.38 million for 2.54 acres on Smokey Lane in March 2007; L&S Concrete Co., led by Charles Weaver, $772,000 for two acres on Smokey Lane in January 2006; and Joe Edd Hawkins, $75,000 for a 0.15-acre parcel on Smokey Lane in January 2006.

The remaining 4.97 acres are leased from MJG Family Ltd., led by Michael Goshen.

MAG-AR 4621 Colonel Glenn LLC bought BMW of Little Rock at 4621 Col. Glenn Plaza Road in west Little Rock from Asbury Automotive Arkansas for $12 million.

The 5.38-acre site was purchased for $4.2 million in July 2013 from LLEJ I, led by Leonard Boen.

MAG-AR 5500 Starita Drive LLC acquired North Point Collision Center North at 5500 Starita Drive in Sherwood from NP FLM LLC for $3 million.

The 4-acre development helped secure an October 2013 funding agreement of $75 million with Bank of America in Charlotte, North Carolina.

The project was bought for $2.5 million in June 2008 from Astar Asb Ar1 LLC of Dallas.

Quail Valley Sale
A 240-unit apartment project in southwest Little Rock weighed in at $3.7 million.

Quail Redevelopment LLC, an affiliate of Cross Equities LLC of Addison, Texas, acquired Quail Valley Apartments at 5300 Baseline Road.

The seller is Quail Valley Apartments LLC, led by Donald Marshall Jr.

The deal is financed with a three-year loan of $5.3 million from American Bank of Commerce in Wolfforth, Texas.

The 12.59-acre development previously was linked with an October 2014 mortgage of $2.8 million held by Southern Bancorp Bank of Arkadelphia.

The property was bought for $2.8 million in October 2014 from Quail Valley Ltd. of Clayton, Missouri.

Dollar Transaction
A Family Dollar Store in southwest Little Rock tipped the scales at nearly $1.37 million.

The Thomas E. Keyser & Gwendolyn Keyser Revocable Trust of Los Angeles purchased the 8,320-SF store at 3500 Baseline Road from FD Little Rock Arkansas Baseline Road LLC, an affiliate of the Atwater Group of Chicago.

The 1.96-acre development previously was tied to a February 2016 mortgage of $1 million held by One Bank & Trust of Little Rock.

The location was acquired 13 months ago for $149,000 from Robert Brook Properties LLC, led by Jon Luer.

Pinnacle Purchase
A 6,120-SF office building in downtown Little Rock changed hands in an $800,000 transaction.

Pinnacle Hotel Group Inc., led by Chetan Patel, bought the 119 Izard St. project from Nussbaum-Cockrill LLC, led by Alan Nussbaum.

The deal is backed with a five-year loan of $680,000 from Little Rock’s Bank of the Ozarks.

The 0.52-acre development previously was linked with an August 2002 mortgage of $680,000 held by Bank of America.

The location was purchased for $144,000 in 2002 from the namesake trusts of Dickson, Gordon and John Flake.

Hotel Land
A hotel project is in motion after a 1.78-acre site on the north side of Little Rock’s Gateway Town Center sold for $755,983.

Gateway Lodging LLC, led by Chetan Patel, acquired the land north of Bass Pro Parkway. The seller is Gateway Creek LLC, led by Isaac Smith.

The property previously was tied to a January 2016 mortgage of $6 million held by First Security Bank of Searcy.

Gateway Creek bought an 89.3 percent stake in the property 13 months ago as part of a $4.97 million deal with Town Center LLC, led by Tommy Hodges.

Jacksonville Acreage
A 75.5-acre tract in Jacksonville drew a $275,000 transaction.

Jack and Michelle Anderson purchased the land near the southeast corner of Military Road and Southeastern Avenue from Lone’s Jacksonville Inc., led by Shahlia Lone.

The deal is funded with a 20-year loan of $365,000 from AgHeritage Farm Credit Services of Little Rock.

The property previously helped secure a September 2012 mortgage of $224,000 held by Centennial Bank of Conway.

The land was acquired more than four years ago as part of a $281,000 deal with Arkansas Emergency Transport LLC, led by Roger Hosman.

Fourche Rock
A 16-unit apartment project in south Little Rock rang up a $150,000 sale.

Colonial Park RBG LLC of West Plains, Missouri, bought Fourche Rock Apartments at 4815 Mabelvale Pike from City National Bank of Los Angeles.

The bank recovered the 0.6-acre development from Little Rock Group LLC, led by Steven St. Clair, in April 2015 at a $150,000 foreclosure sale.

The property was purchased for $460,000 in December 2006 from NCK LLC, led by Linda Koubek.

Heights Home
A 3,992-SF home in the Country Club Heights neighborhood is under new ownership after an $840,000 transaction.

John and Betsy Walker acquired the house from the Roescheise Family Revocable Living Trust, led by Donald and Ethel Roescheise.

The deal is financed with a one-year loan of $672,000 from Bank of England.

The residence previously was linked with a December 2008 mortgage of $620,000 held by Regions Bank of Birmingham, Alabama.

The property was bought for $60,000 in May 1965 from Emma Rogers.

Riverbend Residence
A 3,180-SF home in Little Rock’s Riverbend neighborhood changed hands in a $710,000 sale.

Clifford Woods LLC, led by Mack and Donna McLarty, purchased the house from the Marjorie O. McLean Revocable Trust.

The property was acquired for $194,000 in 1991 from Virginia Bailey.

Seven-Digit Construction

Renovation    $1,809,476
H&E Equipment
2801 W. 65th St., Little Rock
Buquet-Leblanc Inc., Baton Rouge