Canopy Apartments Sale Tops $9.4 Million Mark (Real Deals)


Canopy Apartments Sale Tops $9.4 Million Mark (Real Deals)

A 240-unit apartment project in west Little Rock weighed in at $9.42 million.

9201 Kanis Canopy LLC, an affiliate of DavisRE of Dallas, bought Canopy Apartments at 9201 Kanis Road. The seller is Out In The Woods LLLP, led by James Jackson and Haskell Dickinson II.

The deal is financed with a $7.8 million loan from Prudential Multifamily Mortgage LLC of Arlington, Virginia.

The 11.6-acre development previously was linked with a September 2013 mortgage of $4.5 million held by Grandbridge Real Estate Capital LLC of Charlotte, North Carolina.

Most of the property has been owned by the Dickinson family since June 1943. A 0.36-acre parcel was added for $16,000 in a January 1984 deal with Robert and Eleanor Calhoun.

Complex Buy
A west Little Rock apartment complex tipped the scales at $1.2 million.

Westrock Gardens LLC, led by Christopher and Zachary Schultz, purchased its 30-unit apartment project at 10000 W. Markham St. The seller is Tisdale Properties & Development LLC, led by Tracy Tisdale.

The deal is funded with a $1 million loan from First Security Bank of Searcy. The 0.81-acre development previously was tied to a March 2005 mortgage of $1.3 million held by Regions Bank of Birmingham, Alabama.

Tisdale Properties bought the project for $1.1 million in February 2005 from the Jack McCoy Dowdy Revocable Living Trust.

Galpal Acquisition
An 8,458-SF commercial building in Little Rock’s Heights neighborhood changed hands in a $1 million transaction.

Galpal Investments LLC, led by Alicen and Tim Paladino, acquired the 5208 Kavanaugh Blvd. project from the estate of Jo Ann Yancey.

The deal is backed with a $1 million loan from Riverside Bank of Sparkman (Dallas County). The 0.32-acre development previously was linked with a June 2003 mortgage of $585,802 held by Little Rock’s Bank of the Ozarks.

The Yancey family purchased the property for $180,000 in January 1983 from R.H. McKinney Jr. and his wife, Elizabeth.

Pyramid Transaction
A 3,400-SF commercial spot in downtown Little Rock sold for $672,000.

Chang You bought the former home of Three Fold Noodles & Dumplings Co. at 221 W. Second St. in the Pyramid Place Building from TSM Properties LLC, led by Stephen Maxwell.

The deal is financed with a 20-year loan of $457,800 held by BancorpSouth Bank of Tupelo, Mississippi. The property previously was tied to a May 2011 mortgage of $408,000 held by Pyramid Building LLC, led by Barbara Yates.

TSM acquired the space for $510,000 more than six years ago from Pyramid Building.

Downtown LR Flip
A 0.48-acre development in downtown Little Rock was flipped in deals that ended with a $650,000 transaction.

Broadway Park LLC, led by Brett Pitts, sold the Miracle Wash Laundromat at 1424 Main St. to Tusk Holdings LLC, led by Rusty Thompson.

Broadway Park, which carried $612,500 of the sale, purchased the property eight days earlier for $575,000 from Matt Foster Investments LLC.

The project previously was linked with September 2016 mortgages of $350,000 held by the Campbell Law Firm 401K Plan and $200,000 held by Mark Nichols.

Matt Foster Investments bought the property for $500,000 15 months ago from Grif-Co LLC, led by Keith Griffin.

Land Purchase
A 0.91-acre parcel in downtown Little Rock is under new ownership after a $475,000 deal.

Irwin Cantrell Properties LLC, led by Warren Stephens, acquired the land at the southwest corner of La Harpe Boulevard and the Union Pacific Railroad.

The seller is Schlereth Family LLC, led by John Schlereth.

The property was assembled as part of five transactions with Allen and Vivian Hurt, an undisclosed sum in January 1956; Rebecca and Lee Williams, $2,000 in September 1960; Missouri Improvement Co., an affiliate of the Missouri Pacific Railroad Co. of St. Louis, $540 in March 1962; the Missouri Pacific Railroad, $340 in April 1962; and the city of Little Rock, $6,600 in March 1963.

Kiddie Location
A Kiddie Academy project in west Little Rock is in motion after a $305,000 land deal.

Zenith Landings LLC, led by Abiodun Oluwa and Olabode Olumofin, bought a 1.47-acre site at 610 Wellington Hills Road. The seller is Winrock Enterprises Inc., led by Russ McDonough III.

Construction is funded with a $3.8 million loan from Chatham Bank of Savannah, Georgia.

Winrock acquired the land in connection with two buys totaling $784,000. The sellers in both deals were John and Johnnie Shackleford, 20 acres in January 1997 for $420,000 and 21 acres for $364,000 in February 1996.

Ace Property
A 5.03-acre parcel in west Little Rock rang up a $205,000 sale.

Ace General Contractors Inc., led by Khagan Bhatti, purchased the land on the east side of 11419 Stagecoach Road from the Douglas & Lita Woodall Living Trust.

The trust provided a 30-year mortgage of $190,000 to make the transaction happen.

The Woodall trust bought the property in March 2007 as part of a $101,000 deal with the Joy H. Stevens Revocable Trust.

Country Club Manor
A 5,770-SF home near the Country Club of Little Rock weighed in at $1.1 million.

Robert Bass Jr. and his wife, Deborah, acquired the house from John Dickens. The deal is backed with a one-year loan of $650,000 from First Financial Bank of El Dorado.

The property was purchased for $342,000 in August 2009 from Clark and Katherine Raborn.

Ensbury Abode
A 4,058-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development drew a $637,278 transaction.

Adam and Alexandra Glasier bought the house from Graham Smith Construction LLC of Little Rock. The deal is financed with a 30-year loan of $500,000 from U.S. Bank of Cincinnati.

The residence previously was tied to a March 2017 mortgage of $412,000 held by Bank of the Ozarks.

The site was acquired for $90,000 in December 2016 from Deltic Timber Corp. of El Dorado.

Heights Home
A 2,491-SF home in the Heights area of Little Rock changed hands in a $527,500 deal.

Mary and Scott Nelson purchased the house from Evan and Jennifer Gregory. The deal is funded with a 30-year loan of $200,000 from One Bank & Trust of Little Rock.

The residence previously was linked with a September 2012 mortgage of $393,900 held by Arvest Mortgage Co. of Lowell.

The Gregory family bought the property for $398,000 in November 2010 from Jeffrey and Melissa Francis.

Shady Residence
A 4,667-SF home in North Little Rock’s Shady Valley neighborhood sold for $507,500.

The Watts Family Trust, led by Phillip and Karen Watts, acquired the house from the Lensing Family Revocable Trust, led by Ronald Lensing.

The deal is backed with a 30-year loan of $460,000 from IberiaBank of Lafayette, Louisiana. The location was purchased for $50,000 in May 2003 from Alvin and Anne Eanes.