Hammons WLR Land Sells for $3.6M (Real Deals)

by George Waldon  on Monday, Nov. 5, 2018 12:00 am   4 min read

(PAgis/Google Earth)

Three parcels totaling 7.36 acres in west Little Rock exited bankruptcy after a $3.6 million transaction.

JDHQ Land Holding LLC, an affiliate of Atrium Holding Co. of Phoenix, bought the land south of the Embassy Suites at 11301 Financial Centre Parkway from the John Q. Hammons Revocable Trust of Springfield, Missouri.

The properties previously were tied to an October 2003 mortgage of $1.6 million held by Simmons Bank of Pine Bluff as successor to Little Rock’s Metropolitan National Bank.

The land was assembled in deals totaling nearly $1.6 million.

The trust purchased adjoining parcels totaling 2.92 acres at what became the northwest and northeast corners of Kanis Road and Embassy Suites Drive in July 1999 as part of a $600,000 deal with the Corum Trust, led by Judy Corum.

The remaining acreage was acquired for $991,000 in August 2000 from William and Jane Turpin, Guy Turpin, Clarence and Dorothy Turpin, Melvin and Oberta Turpin, Valery Bruner, Julian Turpin, Lillie Turpin and Cheryl and Lee McGee Jr.

RELATED: Roadblock Removed to Widening Kanis

Warehouse Purchase
A 56,336-SF warehouse in North Little Rock is under new ownership after a $3.25 million transaction.

West 68th Street LLC, an affiliate of Conway’s Nabholz Real Estate Holdings, purchased the former FedEx building at 801 Fiber Optic Drive. The seller is HCI Ltd. of Monroe, Louisiana.

The 10.95-acre development previously was linked with an April 2011 mortgage of $3.4 million held by Origin Bank of Ruston, Louisiana.

HCI bought the project for $4.17 million more than seven years ago from Prip 801 LLC, an affiliate of Paladin Realty Income Properties of Los Angeles.

Multifamily Acquisition
A 19-unit apartment project in west Little Rock weighed in at $1 million.

Bristol Manor Townhomes LLC, led by Luis Velez, acquired its namesake complex at 101 Ellis Drive.

The seller is Kitterman Properties II LLC, led by John and Marsha Kitterman.

The deal is backed with a 20-year loan of $840,000 from Diamond Bank of Murfreesboro.

The 0.81-acre development previously helped secure a November 2003 mortgage of $6.5 million held by BancorpSouth Bank of Tupelo, Mississippi. The project was purchased for $475,000 in June 1997 from William Scott.

Office & Parking Buy
Dental office space and parking in North Little Rock changed hands in a $772,500 deal.

Brad Jolly Sr. and Scott Jolly bought the 3,126-SF Jolly Family Dentistry space at 4601 Fairway Ave. along with a 25 percent stake in adjoining parking.

The sellers are John and Bliss Dean. The deal is financed with a $440,000 loan from Centennial Bank of Conway.

The 0.72-acre office site was purchased for $157,633 in April 1988 from the Crestwood Co., led by James P. Matthews.

The 0.15-acre parking site was acquired for $25,000 in January 2005 from Municipal Recreation Improvement District No. 4, led by William Sowell.

Office Land
A 1.22-acre undeveloped office site in the Riverdale area of Little Rock rang up a $695,000 sale.

Project Riverfront LLC, led by Mark McLarty, purchased the location near the southeast corner of Riverfront and Morgan Keegan drives. The seller is EHB LLC, led by Robert Bass.

McLarty reports that nothing has been decided regarding future development of the property.

EHB bought the land for $640,000 in March 2009 from Swan Harbor LLC, led by Leon and Cori Catlett, Alan Perkins and Scott Trotter.

Land Reclamation
Two commercial sites totaling 3.61 acres drew a $272,000 transaction.

Outlet Development LLC, led by Parwinder Singh, acquired the land near the northeast corner of Stagecoach and Otter Creek roads from Arvest Bank of Fayetteville.

Arvest entered the ownership picture in 2013 through acquisition of North Little Rock’s National Bank of Arkansas.

NBA recovered one parcel at a $478,531 foreclosure sale in January 2009 from Michael and Angela Prichard and the other at a $516,649 foreclosure sale in June 2010 from Dreamland LLC, led by Russell Huckaby and Jerry Atchley.

Edgehill Residence
A 3,799-SF home in Little Rock’s Edgehill neighborhood tipped the scales at $2 million.

The Linda LaFrance Revocable Trust purchased the house from the Lois A. Gehl Trust. The deal is funded with a one-year loan of $1.1 million from Relyance Bank of Pine Bluff.

The residence was acquired for $1.2 million in October 1999 from Brian and Lynn Foster.

Hallen Court I
A 3,501-SF home in the Hallen Court neighborhood of west Little Rock’s Chenal Valley development sold for $735,000.

Rickey and Sandra Perry bought the house from Stevens Commercial Contractors Inc., led by Jackie Stevens.

The deal is backed with a 30-year loan of $588,000 from Arvest Bank. The residence previously was tied to an August 2017 mortgage of $597,096 held by First Security Bank of Searcy.

The lot was purchased for $126,000 14 months ago from El Dorado’s Deltic Timber Corp. through Prestige Homes LLC, led by Robert and Boyd Wright.

Ensbury Place
A 4,238-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $629,000 transaction.

Mudassar Kamran and Saima Ghori acquired the house from Billy Hartness Construction Co. The deal is financed with a 30-year loan of $638,480 from Simmons Bank.

The residence previously was linked with a June 2017 mortgage of $478,000 held by First Security.

The location was bought for $87,000 in December 2016 from Deltic Timber.

Hallen Court II
A 5,076-SF home in the Hallen Court neighborhood of the Chenal Valley development changed hands in a $635,000 deal.

Deborah and Nicholas Prior purchased the house from Rees Construction LLC, led by John Rees.

The deal is funded with a 15-year loan of $425,000 from Simmons Bank. The residence previously was tied to a May 2006 mortgage of $661,000 held by BancorpSouth Bank.

The site was acquired for $139,000 more than 12 years ago from Deltic Timber.

Chenal Downs
A 3,837-SF home in west Little Rock’s Chenal Downs neighborhood rang up a $625,000 sale.

Milton and Janet Goodwin bought the house from the Bray Revocable Trust, led by William Bray Jr. and his wife, Cassandra. The deal is backed with a 30-year loan of $325,000 from Simmons Bank.

The residence previously was linked with an August 2017 mortgage of $200,000 held by Regions Bank of Birmingham, Alabama.

The Brays purchased the 5-acre site for $140,000 in January 1999 from Deltic Timber.

Chimney Rock
A 5,350-SF home in Sherwood’s Chimney Rock neighborhood drew a $600,000 transaction.

Flyway Properties LLC, led by Mac Hogan, acquired the house from the Barbara Bond Denniston Revocable Trust.

The location was bought for $52,000 in August 1994 from Lilac LLC, led by Andy Collins.

 

 

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