Village at Pleasant Valley $4.2M Ownership Redone (Real Deals)


Village at Pleasant Valley $4.2M Ownership Redone (Real Deals)
(Google Earth)

New investors in an 89,781-SF retail center in west Little Rock entered the ownership picture in transactions totaling $4.19 million.

The Village at Pleasant Valley LLC, led by John Ramsey, sold a 37.9 percent stake in its namesake project at 10700 Rodney Parham Road for $2.5 million to Kelley Commercial Realty LLC, led by Hank Kelley, as well as an 8.7 percent stake for $580,347.

An additional 16.5 percent was acquired for $1 million by VPV Properties LLC, also led by Kelley.

The Village at Pleasant Valley carried the sales in the form of 17-year loans of $1.9 million, $580,347 and $939,538.

The 8.96-acre development is secured by a $6.6 million mortgage held by BancorpSouth Bank of Tupelo, Mississippi.

In addition to John and Mary Ramsey, original investors in the Village at Pleasant Valley LLC included Chester D. Phillips, David and Kay Jones and Ron and Joyce Harb.

The limited liability company bought the project for $7.3 million in May 1996 from Phoenix Rock Centers Ltd., an affiliate of Trammell Crow Co. of Dallas.

Rockefeller Transaction
A 4.5-acre commercial site in west Little Rock tipped the scales at $1.2 million.

Winrock Farms Inc. purchased the land at the northwest corner of David O. Dodd Road and Lawson Cut-off from Riverside Properties LLC.

Winrock and Riverside are both led by Lisenne Rockefeller.

Riverside acquired the property for $950,000 in March 2017 from Terraforma LLC, led by Doug Meyer and David Bruning.

Warehouse Sale
A 12,672-SF warehouse in Little Rock drew a $450,000 transaction.

Parts Warehouse Inc., led by Fletcher Lord Jr., bought the 3100 Dugan Drive project. The seller is BCR Investments LLC, led by Benjamin Davis II, Cindi Mathis and Ronald Davis.

The 6.76-acre development previously helped secure a March 2017 mortgage of $359,883 held by Central Bank of Little Rock. BCR purchased the property for $300,000 in July 2014 from Legacy Associates Inc., led by Veletta Smith Hall.

Multifamily Buy
A 15-unit apartment project in downtown Little Rock rang up a $400,000 sale.

Capital View Apartments LLC, led by Matthew Looney, acquired the T. Graham Manor Apartments at 1214 W. Sixth St. The seller is TA Holdings LLC, led by Jeffrey, Wendy, Thomas and Candis Anderson.

The deal is backed with a $430,000 loan from Owens Consulting Group Inc. of Torrance, California.

The 0.17-acre development previously was tied to an August 2011 mortgage of $320,000 originated by Summit Bank of Arkadelphia.

The property was bought for $400,000 in March 2004 from Mary Buchanan and Tom Hankins.

Oxford Inn Purchase
An 18-unit apartment complex in Jacksonville changed hands in a $360,000 deal.

KP Properties of Arkansas LLC, led by Kel Denker and Paul Mead, purchased the Oxford Inn at 921 S. First St.

The seller is Oxford Inn Inc., led by James Kirkpatrick. The deal is financed with a $360,000 loan from Centennial Bank of Conway.

Oxford Inn acquired the 2.55-acre development for $100,000 in August 2004.

The seller is Allied Associates of Arkansas Inc., led by Larry Johnson.

Haybar Acquisition
A 3,659-SF office project in downtown Little Rock sold for $225,000.

Haybar Properties LLC, led by Bryan Hosto, bought the James Law Firm office at 1821 Broadway St. from William and Patricia James.

The 0.24-acre development previously was linked with a December 2005 mortgage of $261,000 held by Summit Bank of Arkadelphia.

The property was purchased for $290,000 in December 2005 from Leverett & Watts LLC, led by Mark Leverett and Rosalyn Watts.

Riverview Manor
A 3,678-SF home in the Riverview Manor neighborhood weighed in at $1 million.

The Donna Kay Clark Trust acquired the house from the Gene Graves Revocable Trust.

The residence previously was tied to a July 2011 mortgage of $650,000 held by One Bank & Trust of Little Rock.

The property was bought for $1.1 million nearly seven years ago from the Jane Boyd Prince Revocable Trust.

Hickory House
A 4,515-SF home in west Little Rock’s Hickory Creek neighborhood is under new ownership after a $750,000 deal.

Clinton and Mary Hutchinson purchased the house from the Jones Family Trust, led by Steven Jones Sr. and his wife, Mary.

The deal is funded with a 25-year loan of $750,000 from Regions Bank of Birmingham, Alabama.

The property was acquired for $580,000 in May 1998 from Susan and Larry Gilb.

Arbors Abode
A 4,252-SF home in The Arbors neighborhood of west Little Rock’s Chenal Valley development drew a $675,000 transaction.

Dennis and Nancy James bought the house from Trammell Construction Inc., led by Renee Trammell. The deal is backed with a 30-year loan of $540,000 from Regions Bank.

The residence previously was linked with an August 2005 mortgage of $550,000 held by Little Rock’s Bank of the Ozarks.

The site was purchased for $100,000 in December 2004 from Deltic Timber Corp. of El Dorado.

Prospect Home
A 3,155-SF home in Little Rock’s Prospect Terrace neighborhood rang up a $637,000 sale.

Gary Duke and Jeffrey Chapman acquired the house from the Anderson Revocable Trust, led by Overton and Kay Anderson.

The residence previously helped secure an October 2017 mortgage of $1.1 million held by Regions Bank.

The Andersons bought the property for $115,000 in August 1978 from Donald and Susan Mehlburger.

Ranch Dwelling
A 4,462-SF home The Ranch neighborhood of west Little Rock changed hands in a $545,000 deal.

Harriet Ford purchased the house from Jim Pace Homes LLC. The residence previously was tied to a May 2017 mortgage of $506,400 held by BancorpSouth Bank.

Jim Pace Homes acquired the location for $90,000 a year ago from Pinnacle Ridge Development Co., led by George Petrov.

Miramar Residence
A 3,918-SF home in the Miramar Place neighborhood in west Little Rock’s Chenal Valley development sold for $540,000.

The Kathy M. Gill Trust bought the house from Adam and Alicia Fernandez. The deal is financed with a 30-year loan of $300,000 from Bear State Bank of Little Rock.

The residence previously was linked with a May 2016 mortgage of $417,000 held by Simmons Bank of Pine Bluff.

The Fernandez family purchased the property for $525,000 two years ago from Michael and Adena Jenkins.

Oaks House
A 3,479-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $538,720 deal.

Michael and Brooke Miller acquired the house from Kathy and Edwin Watson.

The residence previously was tied to an April 2016 mortgage of $100,000 held by Regions Bank.

The Watsons bought the property for $544,000 in May 2013 from David and Theresa Bard.