Entergy Property Generates $3.1M Sale (Real Deals)

Parcel dimensions approximate
Parcel dimensions approximate

Utility land in west Little Rock tipped the scales at $3.1 million. Entergy Arkansas Inc. bought its 10.08-acre location at 12209 W. Markham St. from Newkirk Lirock Ltd. of New York.

The limited partnership purchased the land for $2.2 million in May 1980 from Arkansas Power & Light Co., the predecessor of Entergy Arkansas.

Nature Land
Related transactions in west Pulaski County combined for a $3 million tally.

The Nature Conservancy acquired 366 acres for $2.55 million from J.H. Land Inc., led by Lee Bodenhamer; and an adjoining 12 acres for $450,000 from the Lee Bodenhamer Trust.

The property is on the north side of Barrett Road, a mile north of Highway 10.

The trust purchased its property for $475,000 in May 2007 from J.H. Land. J.H. Land purchased its tract for $382,000 in July 1990 from the Gordan Page Oates Trust and Wanda Sue Oates Donnelly Revocable Trust.

Vimy Ridge Buy
An 87,000-SF office-warehouse in southwest Little Rock weighed in at $2.4 million.

L1 Alexander LLC, led by John Morton, purchased the 11610 Vimy Ridge Road project.

The seller is Vimy Ridge Partners LLC, led by John Steuri, Frank Westerman and John Lessel.

The deal is funded with a 5.5-year loan of $2 million from IberiaBank of Lafayette, Louisiana.

The 9.96-acre development previously was linked with a $2.38 million mortgage held by One Bank & Trust of Little Rock.

Vimy Ridge Partners acquired the property for $2.8 million in February 2010 from Wes-Pak Inc., led by Frank Westerman.

Gaviranga Purchase
A 25,000-SF office-warehouse in west Little Rock drew a $1.1 million transaction.

Gaviranga Investments LLC, led by Srinivasan Ramaswamy and Roopa Ram, bought the 7415 Col. Glenn Road project from the namesake living trusts of Atley and Betty Davis.

The deal for the 5.02-acre development is backed with a 20-year loan of $880,000 from One Bank & Trust.

The property was purchased for $300,000 in December 1998 from the estate of Franklin Sipes Jr.

Multifamily Transaction
Neighboring apartments in North Little Rock changed hands in an $895,000 deal.

HSD Properties LLC, led by Noel Muller; Hannema Properties LLC, led by Jeffery Muller; and TBL Rentals LLC, led by Jeremy Carroll, bought 16 units at 4421 Lynn Lane and 14 units at 1812 W. 44th St.

The seller is Columbia LLC, led by Lee Hatcher and Joi Pryor. The deal is financed with a three-year loan from Central Bank of Little Rock.

Columbia recovered the combined 1.85-acre development from Woodward-Jon LLC, led by David Falcon and William McCrary, in July 2012 at a $500,000 foreclosure sale.

Land Acquisition
A 7.88-acre parcel in west Pulaski County rang up a $600,000 sale.

Thundercloud LLC, led by Graham Smith, purchased the land at 15700 Pride Valley Road from Thomas Starks.

The deal is backed with a three-year funding agreement of $1.3 million from Simmons Bank of Pine Bluff.

A 2.7-acre parcel was acquired for $25,000 in May 2005 from Robert and Janie Owen. The Starks family owned the remaining land for more than 90 years.

Chenal Circle Abode
A 6,605-SF home in west Little Rock’s Chenal Circle neighborhood tipped the scales at $1.02 million.

The Eric Daniel Merriman Trust bought the house from the Linda D. Gleason Revocable Trust.

The residence previously was tied to a June 2016 mortgage of $859,500 held by Citizens Bank of Batesville.

The trust purchased the property for $955,000 nearly 18 months ago from Phillip and Robin Johnson.

Heights Residence
A 3,428-SF home in the Heights area of Little Rock sold for $745,000.

Goldtrap Properties LLC, led by Cathy and Robert Goldtrap, acquired the house from Stephen and Mary Hudson.

The deal is funded with a 30-year funding agreement of $633,000 from First Western Bank of Booneville. The residence previously was linked with a September 2011 mortgage of $380,000 held by Bank of Little Rock Mortgage Corp.

The Hudsons bought the property for $630,000 in April 2011 from Howard and Robin Holmes.

Ensbury Dwelling
A 3,800-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $565,000 deal.

Arlee Busby III and his wife, Melanie, purchased the house from MJ Innovative Builders Corp., led by Jamal Solaimanian.

The deal is financed with a 30-year loan of $424,000 from Union Bank & Trust of Monticello. The residence previously was tied to a December 2016 mortgage of $430,000 held by One Bank & Trust.

The site was acquired for $90,000 13 months ago from Deltic Timber Corp. of El Dorado.

Fontenay House
A 4,390-SF home in the Fontenay Circle neighborhood of west Little Rock’s Chenal Valley development drew a $548,000 transaction.

David and Meghan Repp bought the house from John and Martha Neuman. The deal is backed with a 30-year loan of $493,200 from Regions Bank of Birmingham, Alabama.

The residence previously was linked with an August 2012 mortgage of $370,350 held by JPMorgan Chase Bank of Columbus, Ohio.

The Neumans purchased the property for $590,000 in December 2005 from Billy Hartness Construction Co.

Maisons Home
A 4,899-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development changed hands in a $530,000 deal.

Mitesh and Poonam Lotia acquired the house from Asif Masood and Madiha Shahid. The deal is funded with a 10-year loan of $534,595 from Simmons Bank.

The residence was bought for $535,000 in March 2013 from Dennis and Patricia Braddy.