A 260-unit apartment complex in North Little Rock weighed in at $12.7 million.
SCBP Lake Associates LLC, an affiliate of Spring Capital in Philadelphia, bought Lakewood Hills Apartments at 2400 McCain Blvd. The seller is RCP Lakewood LLC, an affiliate of RCP General Inc. of New York.
The deal is financed with a $15.8 million loan from Latitude Management Real Estate Capital III Inc. of Beverly Hills, California.
The 14.4-acre development previously was tied to a September 2007 mortgage of $9.5 million held by Capmark Bank of Midvale, Utah.
RCP Lakewood acquired the project for $8.8 million in November 2002 from Waterton Lakewood LLC of Chicago.
Breastaurant Buy
The Little Rock Hooters changed hands in a $3.3 million sale-leaseback.
Hagop and Christiane Kouyoumdjian of La Verne, California, purchased the 6 Anglers Way project from HOA Restaurant Holder LLC of Atlanta.
The deal is funded with a two-year loan of $2.1 million from Stearns Bank of St. Cloud, Minnesota.
HOA Restaurant Holder bought the 1.7-acre location for $1.35 million in September from Bass Pro Outdoor World LLC of Springfield, Missouri.
Taco Acquisitions
Tandem Taco Bell transactions tipped the scales at a combined $3 million.
Realty Income Properties 22 LLC, an affiliate of Real Income Corp. of San Diego, acquired the 0.71-acre development at 1809 N. First St. in Jacksonville for $1.74 million and the 0.64-acre development at 7201 JFK Blvd. in Sherwood for $1.25 million.
The seller is KMAC II LLC of Lafayette, California. The properties previously helped secure a November 2011 mortgage of $4.6 million and a January 2017 mortgage of $9.3 million held by Wells Fargo Bank of Sioux Falls, South Dakota.
The eateries were purchased in November 2007 from CPCG KM AR 2 LLC of Los Angeles: $1.42 million for the Jacksonville project and $962,000 for the Sherwood project.
Multifamily Purchase I
Apartment property in south Little Rock drew a $1.36 million transaction.
Van Geuns Properties LCC, led by Noel Muller, bought the 24-unit Mabelvale Apartments at 7414 Mabelvale Pike, an adjoining 1.2-acre parcel and nine units at 3518 Arapaho Trail and the neighboring six units at 3426 Arapaho Trail.
The seller is Town Creek LLC, led by Rick Ferguson. The deal is backed with a three-year loan of $1 million from Little Rock’s Bank of the Ozarks.
A year ago, Town Creek acquired the Mabelvale units and land for $435,000 from 133 LLC, led by Keith Jackson, and the Arapaho Trail units for $250,000 from Elgin and Anita Junior.
Multifamily Purchase II
A 20-unit apartment project in Jacksonville rang up a $610,000 sale.
TCB Investments LLC, led by James Hoffman and Brian Teeter, purchased the Linda Lane Apartments at 2213 Linda Lane. The seller is BNT Properties Corp., led by Bill Cobb.
The deal is financed with a one-year loan of $488,000 from BancorpSouth Bank of Tupelo, Mississippi.
The 1-acre development previously helped secure a March 2015 mortgage of $1 million held by Central Bank of Little Rock.
BNT bought the project for $450,000 in December 2007 from Oregon Trail Properties Inc., led by Lawrence Mulloy.
Sultan Sale
A 3,000-SF convenience store and eatery in North Little Rock is under new ownership after a $370,000 transaction.
Lake Lane LLC, led by Naser Abed and Asim Awad, acquired the Chism Trail Cafe & Store at 300 Lake Lane. The seller is Sultan Inc., led by Chodry Cheema.
The 1.77-acre development previously helped secure a December 2014 mortgage of $1.1 million held by Centennial Bank of Conway.
Sultan purchased the project for $300,000 more than three years ago from First Security Bank of Searcy.
Edgehill Manor
A 6,187-SF home in Little Rock’s Edgehill neighborhood weighed in at $2 million.
Russ McDonough III and his wife, Kimberly, bought the residence from the Jane Hunt Meade Revocable Trust.
The property was acquired for $1.4 million in March 2005 from the E. Sheffield Nelson Revocable Trust.
Country Club House
A 3,229-SF home near the Country Club of Little Rock sold for $655,000.
Meredith and Colin Pelton purchased the house from William Edwards Jr. and his wife, Cynthia. The deal is funded with a 30-year loan of $355,000 from Gateway Mortgage LLC of Jenks, Oklahoma.
The property was bought for $185,000 in August 1991 from Watson Arnold Jr. and his wife, Tricia.
Mirabel Abode
A 4,353-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development changed hands in a $572,000 transaction.
Mohamed Kamel and Hoda Aref acquired the house from Turner & Sons Construction Inc., led by John Turner.
The deal is backed with a 30-year loan of $515,250 from U.S. Bank of Cincinnati. The residence previously was linked with a February 2017 mortgage of $420,000 held by BancorpSouth Bank.
The site was purchased for $80,000 in February 2016 from Byron Holmes Construction Inc.
Ensbury Residence
A 3,600-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development drew a $550,000 deal.
Paul and Kathy Young bought the house from Liberty Construction LLC, led by Mark Shepard.
The residence previously was tied to a December 2016 mortgage of $416,000 held by First Security Bank.
Liberty acquired the site for $90,000 13 months ago from Deltic Timber Corp. of El Dorado.
Heights Home
A 2,206-SF home in the Heights area of Little Rock rang up a $515,000 sale.
Jamie and John Bizzell purchased the house from William Rolston IV and his wife, Candace. The deal is financed with a 30-year loan of $515,000 from Regions Bank of Birmingham, Alabama.
The residence previously was linked with a November 2013 mortgage of $365,000 held by Riverside Mortgage Co. of Little Rock.
The Rolstons bought the property for $457,000 in October 2014 from DKB Construction LLC, led by William Wrape III and Joseph Prause.
Condo Space
A 2,115-SF condo in downtown Little Rock is under new ownership after a $508,000 transaction.
Workroom Investments LLC, led by Brad and Kathy Workman and James and Gloria Croom, acquired the 15th-floor space in the River Market Tower at 315 Rock St. The seller is RMT II LLC, led by Jimmy Moses and Rett Tucker.
RMT purchased 757 SF for $220,000 in November from Rodney Watson Jr.
The balance of the space was owned by RMT since the project was developed.
This 1,358 SF helped secure April 2014 mortgages of $18.6 million held by First Security Bank and $3.3 million held by Citizens Bank of Batesville and a June 2015 mortgage of $132,817 held by First Security.
Pine Manor Dwelling
A 3,846-SF home in Little Rock’s Pine Manor neighborhood sold for $506,500.
Theresa McCallie bought the house from Guillermo Escobar and Alison Gizinski. The deal is funded with a 25- year loan of $506,500 from Regions Bank.
The property previously was tied to a June 2013 mortgage of $417,000 held by Arkansas Federal Credit Union of Jacksonville.
The residence was acquired for $462,000 more than four years ago from Rush & Co., led by Ben Rush.
