Chapel Ridge Project Draws $11M Transaction (Real Deals)


Chapel Ridge Project Draws $11M Transaction (Real Deals)
Chapel Ridge Apartments at 10401 Brockington Road in Sherwood (Google Earth/Mapbox)

A 160-unit apartment complex in Sherwood tipped the scales at $11.37 million.

Robertson Building LLC and Branch at Carson Springs II LLC, affiliates of Zimmerman Properties of Springfield, Missouri, bought the Chapel Ridge project at 10401 Brockington Road.

The seller is Sherwood Housing Associates Ltd., an affiliate of Denver’s Alden Torch Financial.

The deal is backed with a $9.2 million loan from Jones Lang Lasalle Multifamily LLC of St. Paul, Minnesota.

The 9.45-acre development previously was linked with a November 2004 mortgage of $8.1 million held by Regions Bank of Birmingham, Alabama.

Sherwood Housing Associates acquired the location for $281,000 in November 1999 from Ronald and Sarah Morris.

Hotel Acquisition
A 96-room hotel in west Little Rock weighed in at $2.63 million.

Bri & Dee Corp., led by Dipesh Dinu, purchased the M Star project at 1010 Breckenridge Drive from J&B Legacy Hotels LLC of Denton, Texas.

The deal is financed with a 25-year loan of $2.3 million from Entegra Bank of Franklin, North Carolina.

The 2.15-acre development previously was tied to a November 2015 mortgage of $2.3 million held by International Bank of Commerce in Oklahoma City.

J&B bought the property for $2.4 million three years ago from Prominent Hotels LLC of Irving, Texas.

Convenient Sale
A 3,113-SF convenience store in southeast Pulaski County changed hands in a $1.1 million deal.

Arch Street Partners LLC, led by Asif Hussain, acquired the Phillips 66 project at 10401 Arch Street Pike from In Ho and Yeon Nam Lee. The deal is funded with an $825,000 loan from Centennial Bank of Conway.

The 1.94-acre development previously was linked with an October 2015 mortgage of $703,777 held by Arvest Bank of Fayetteville.

The property was purchased for $946,000 in January 2005 from Flash Market Inc., led by Harold Patterson.

Child Care Purchase
An 8,714-SF child care project in west Little Rock sold for $1.02 million.

Robert Zeiler bought the Childcare Network site at 800 Kirk Road from Bilmor Inc. of Memphis. The deal is backed with a five-year loan of $1 million from Relyance Bank of Pine Bluff.

The 1.26-acre development previously was tied to a July 2011 mortgage of $1 million held by First Security Bank of Searcy. Bilmor acquired the property for $1 million more than seven years ago from Bank of Little Rock.

Branch Buy
A 1,916-SF bank branch in west Little Rock drew a $650,000 transaction.

Homail Inc., led by Walid Ismael, purchased the project at 10900 Col. Glenn Road from IberiaBank of Lafayette, Louisiana. The deal is financed with a one-year loan of $669,000 from Bank of England.

The 0.98-acre site was bought for $383,000 in May 2003 from Boen Enterprises LLC, led by Leonard Boen.

Terminal Property
A 28,000-SF truck terminal in Little Rock is under new ownership after a $550,000 deal.

Ben Davis Properties Management LLC acquired the Southwestern Motor Transport project at 9622 Interstate 30 from GILX Development Inc. of San Antonio.

GILX purchased the 7.55-acre development for $650,000 in February 1998 from War Inc., led by Winfred Robertson.

Office Deal
A 4,500-SF office building in Little Rock rang up a $410,000 sale.

Michael Cupples and Brad Canada bought the 7707 T St. project from James Family Properties LLLP, led by Judith Scherer. The deal is funded with a 10-year loan of $536,000 from Merchants & Farmers Bank of Dumas.

The 0.48-acre property was acquired for $162,000 in March 1993 from Charles Patterson Jr. and his wife, Anne.

Church Land
A 1.12-acre parcel in North Little Rock changed hands in a $185,000 deal.

First Assembly of God, North Little Rock Inc. purchased the land adjoining the east side of its 4500 W. Commercial Drive property from the James Darrell Burton & Margaret C. Burton Living Trust.

The property previously was linked with a September 2013 mortgage of $119,111 held by First Arkansas Bank & Trust of Jacksonville.

The property was bought for $155,000 in June 2005 from Central Farms LLC, led by Byron McKimmey.

Warehouse Deal
A 9,600-SF warehouse in North Little Rock sold for $150,000.

TCB Partners LLC, led by Norman Clifton, acquired the 1803 Hwy. 161 project and adjoining vacant 1,871-SF restaurant at 1719 Hwy. 161 from Jerry Wilson and Teresa Boyd.

The property was purchased for $215,000 in May 2009 from Mexico Chiquito Properties LLC, led by Jerry Haynie.

Club House
A 5,124-SF home near the Country Club of Little Rock tipped the scales at $1.17 million.

Goldtrap Properties LLC, led by Cathy Goldtrap, bought the house from MJH Trust, led by Merritt Dake. The deal is backed with a $925,000 loan from Centennial Bank.

The residence previously was tied to a June 2018 mortgage of $1 million held by IberiaBank.

The trust acquired the property for $1.1 million in September 2015 from Michael and Pamela Ashcraft.

Heights Home
A 3,428-SF home in the Heights area of Little Rock sold for $750,000.

The Quinn Joint Revocable Trust, led by Brian and Ginger Quinn, purchased the house from Goldtrap Properties. The deal is financed with a 30-year loan of $712,500 from IberiaBank.

The residence previously was linked with a December 2017 mortgage of $633,000 held by First Western Bank of Booneville.

Goldtrap bought the property for $745,000 11 months ago from Stephen and Mary Hudson.

Chenal Downs
A 3,911-SF home in the Chenal Downs neighborhood of west Little Rock drew a $500,000 transaction.

Patrick Kennedy and Sally Martens acquired the house from Cheng Wang and Chunping Gu.

The residence was purchased for $429,000 in April 2010 from Homesales Inc., an affiliate of Chase Manhattan Mortgage Corp. of Edison, New Jersey.