A three-property, 570-unit apartment transaction in southwest Little Rock tipped the scales at $20.35 million.
BBR Oil LLC of Iowa City bought the 280-unit Spanish Valley Apartments at 5300 Baseline Road and 8501 Dreher Lane, the 181-unit Spanish Willows Apartments at 7510 and 7515 Geyer Springs Road and the 109-unit Spanish Viento Apartments at 5701 Dreher Lane.
The sellers were affiliates of Cross Equities of Addison, Texas: Quail Redevelopment LLC, Windamere Redevelopment LLC and Willow Redevelopment LLC.
The deal is backed with a three-month loan of $11.3 million from West Bank of West Des Moines, Iowa.
The 15-acre Spanish Valley development was assembled in deals totaling $4.3 million.
The sellers were Quail Valley Apartments LLC, led by Donald Marshall Jr., $3.7 million in December 2016; and City National Bank of Los Angeles, $600,000 in November 2016.
The redevelopment previously was tied to a December 2016 mortgage of $5.3 million held by American Bank of Commerce in Wolfforth, Texas.
The 4.48-acre Spanish Viento development was acquired for $2.3 million in June 2017 from Marsilmor Properties LLC, led by Helen Marshall.
The project previously was linked with a July 2017 mortgage of $2.7 million held by American Bank of Commerce.
The 7.78-acre Spanish Willows development was assembled in deals totaling $1.6 million.
The sellers were City National Bank of Los Angeles, $750,000 in July 2016; and Velocity Commercial Capital LLC of Westlake Village, California, $925,000 in August 2017.
The redevelopment previously was tied to a July 2016 mortgage of $2.1 million held by American Bank of Commerce.
Farmland Sale
More than 856 acres in northwestern Pulaski County is under new ownership after a $1.88 million transaction.
Palarm Bayou Farm LLC, led by Lambert Marshall Jr. and Kent Westbrook, purchased the agri land along its namesake waterway between Interstate 40 and Hwy. 365.
The seller is Tranum Family LLLP, led by Billy Tranum.
The deal is financed with a 20-year loan of $1.3 million from Brighthouse Life Insurance Co. of Charlotte, North Carolina.
The property was bought for $990,000 in April 1997 from the Jimmy B. Sims Farms Inc. Pension Trust.
Convenient Site
A Jacksonville convenience store project is in motion after a $1.68 million deal.
KG Store 138 LLC, an affiliate of the Kum & Go chain in West Des Moines, Iowa, acquired the 1.72-acre site at 1501 W. Main St. from SNR Consulting LLC of Chesterfield, Missouri.
The property previously was linked with a February 2016 mortgage of $722,500 held by First Arkansas Bank & Trust of Jacksonville.
SNR Consulting purchased the location more than two years ago in an $850,000 deal that encompassed the 1,864-SF Thai Taste restaurant at 1516 W. Main St., the 6,020-SF retail project at 1525 W. Main St. and the 0.77-acre site of a Phillips 66 convenience store at 1501 W. Main St.
The seller was JY Rental LLC, led by Richard Jones.
Brookwood Office
A 14,967-SF office building in Little Rock’s Riverdale area weighed in at $1.3 million.
2100 Brookwood LLC, led by Brock Brockinton, bought the 2100 Brookwood Drive project from Stamja-LP AR Properties LLC, led by Stephen LaFrance Jr.
The deal is funded with a $1 million loan from Centennial Bank of Conway.
The 1.81-acre development was acquired for $1.6 million in August 2004 from BDC LLC, led by Thomas Babb.
Repertory Multifamily
A 16-unit apartment building in downtown Little Rock changed hands in a $786,800 deal.
Peachtree Opportunity Fund LLC, led by Mark Brown and Jill Judy, purchased Peachtree Apartments at 315 E. Sixth St. from the Arkansas Repertory Theatre.
The deal is backed with a five-year loan of $756,000 from One Bank & Trust of Little Rock.
The 0.26-acre development previously helped secure a December 2007 mortgage of $1.5 million and a January 2018 mortgage of $595,950 held by Little Rock’s Bank of the Ozarks.
The Arkansas Rep bought the property for $250,000 in September 1992 from Ruebel Holmes.
Parcel Purchase
A 3.05-acre commercial parcel in North Little Rock rang up a $226,843 sale.
924 W. 15th St. LLC, led by James “Bubba” Wood, acquired the land near the southeast corner of Schaer and 15th streets.
The seller is RLW Properties LLC, led by Dr. Robert Warner Jr.
The deal is financed with a one-year loan of $226,843 from BancorpSouth Bank of Tupelo, Mississippi.
The land previously helped secure an April 2012 mortgage of $4 million held by the bank.
The property was purchased in July 2001 as part of a $3.3 million deal with Kroger Ltd. Partnership I of Cincinnati.
Country Club House
A 3,685-SF home in Little Rock’s Country Club Heights neighborhood drew a $940,000 transaction.
Nealy and John Wells bought the house from PMC Revocable Trust, led by Stacie Clyburn. The deal is funded with a 30-year loan of $740,000 from Iberia-Bank of Lafayette, Louisiana.
The residence previously was tied to a January 2012 mortgage of $548,000 held by Delta Trust & Mortgage Inc. of Little Rock.
The property was acquired more than six years ago for $685,000.
The seller was the Harris Joint Revocable Trust, led by William and Judith Harris.
Heights Home
A 4,300-SF home in the Heights area of Little Rock sold for $855,000.
Jeffrey Grynwald Jr. and his wife, Ana, purchased the house from Westheights LLC, led by Kelley Johnson.
The formerly 1,376-SF house was bought for $318,000 in April 2017 from Jeri Haynie.
Edgerstoune Abode
A 3,804-SF home in Little Rock’s Edgerstoune neighborhood is under new ownership after a $656,500 deal.
David and Jennifer Kawatu acquired the house from Bart and Melisa Barlogie.
The deal is backed with a 30-year loan of $453,100 from Bank of Little Rock Mortgage Corp.
The residence previously was linked with a June 2014 mortgage of $465,500 held by Arvest Bank of Fayetteville.
The Barlogies purchased the property for $590,000 in September 1999 from Charles and Linda Hicks.
Round River Residence
A 2,464-SF home in Little Rock’s Round River neighborhood changed hands in a $560,000 transaction.
Joseph Smith and his wife, Sarah, bought the house from Kelly Currence. The deal is financed with a 30-year loan of $504,000 from One Bank.
Currence acquired the residence for $460,000 in February 2018 from the Smiths.
Lamarche Place
A 4,498-SF home in the Lamarche Place neighborhood of west Little Rock’s Chenal Valley development rang up a $539,500 sale.
Phillip and Jessica Jakubowicz purchased the house from Tadd and Maggie Richert.
The deal is funded with a 30-year loan of $539,500 from IberiaBank. The residence previously was tied to a $416,600 mortgage held by Simmons Bank of Pine Bluff.
The Richerts bought the property for $521,000 in May 2015 from the Grady & Lisa Wooten Joint Trust.
