Hall and Davidson Buildings Sold for $2.3 Million

Hall and Davidson Buildings Sold for $2.3 Million
A rendering of improvements to the Hall and Davidson buildings at 201-215 W. Capitol Ave. (Rock Capital Real Estate)

The expected sale of the Hall and Davidson buildings at 201-215 W. Capitol Ave. in downtown Little Rock recently closed.

Price tag: $2.3 million.

The property, which encompasses the five-story, 41,672-SF Hall Building and three-story 19,725-SF Davidson Building, was bought in the name of 201 W. Capitol LLC.

Some of the folks behind this local investment group include members of Rock Capital Group and Rock Capital Real Estate: Dan Roda, Danny Brickey, Jordan Haas and Blake Smith.

Other equity partners are Reimagine Hospitality Corp., led by Kunal Mody, and the Sam Alley family of Little Rock.

Reimagine developed and owns the 105-room Sheraton Four Points Hotel in Bentonville. The Alleys helped redevelop and are investors in the 192-room, 15-suite Chancellor Hotel in Fayetteville.

You might recall that the Hall-Davidson property is earmarked for redevelopment as a boutique hotel.

The Shulte Hospitality Group of Louisville, Kentucky, which manages the Chancellor, will manage the new hotel.

Hall-Davidson was acquired from Capitol Lofts LLC, led by Scott Reed.

Known for starting but not finishing projects in Little Rock, Reed envisioned redeveloping the property into 56 apartments in the upper floors, with maybe a brewery and restaurants on the ground floor.

As part of the acquisition, the new ownership group assumed $286,532 of debt owed to the Pulaski County Brownfields Revolving Loan Fund.

Redevelopment work is targeted to begin in October.

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