Chenal Rehabilitation Sells For $5.9M (Real Deals)

Chenal Rehabilitation Sells For $5.9M (Real Deals)
Chenal Rehabilitation & Healthcare Center at 3115 S. Bowman Road. (Google Earth)

The sale of a 70-unit convalescent hospital in west Little Rock weighed in at $5.9 million.

Bowman Pointe Property Investments LLC, an affiliate of Stein & Associates of Fort Smith, bought the Chenal Rehabilitation & Healthcare Center at 3115 S. Bowman Road. The seller is Rolling Hills HC Inc., led by Joey Wiggins.

The deal is funded with five-year loans of $5 million from First National Bank of Fort Smith and $885,000 from Rolling Hills.

The 4.48-acre development previously helped secure a July 2017 mortgage of $7.6 million held by Southern Bank of Poplar Bluff, Missouri.

The property was purchased for $4.1 million 19 months ago from FC Encore Properties B Holdco LLC, an affiliate of Formation Capital of Atlanta.

Helping Hand Sale
A 19,692-SF children’s center in North Little Rock tipped the scales at $3.7 million.

Foxden Enterprises LLC, led by Todd Denton, acquired the 4901 Northshore Drive project from Helping Hand Properties LLC, led by John Washburn. The deal is financed with an 18-month loan of $4.2 million from First Arkansas Bank & Trust of Jacksonville.

The 8-acre development previously was tied to a May 2011 mortgage of $1.8 million held by Bank of England and a September 2013 mortgage of $1.7 million held by Regions Bank of Birmingham, Alabama.

The location was bought for $475,000 in August 1998 from Northshore Park Ltd., led by Harold Tenenbaum, $380,000; and Karen Smith Riecke and her husband, Edward, $95,000.

Dental Acquisition
A 9,000-SF dental office in North Little Rock rang up a $1.16 million sale.

Blackburn Capital LLC, led by Todd Stewart, purchased Rock Family Dental at 2411 McCain Blvd. The seller is Lakewood Place LLC, led by William Hixson.

The 0.9-acre development previously was linked with a January 2013 mortgage of $744,075 held by Little Rock’s Bank OZK.

The site was acquired for $337,000 in April 1999 from the Crestwood Co., led by James Matthews.

Convenient Purchase
An 8,000-SF convenience store in Cabot changed hands in a $1.02 million transaction.

Vault CS 9909 Hwy 5 LLC, an affiliate of Vault Equity Partners of Bloomfield Hills, Michigan, bought the 9909 Hwy. 5 project.

The seller is Taylor Mercantile LLC, an affiliate of Mountain Oil Express Co. of Acworth, Georgia.

The 2.49-acre development was purchased for $700,000 in May 2008 from T.Ricks LLC, led by Rick Kent.

Sherwin-Williams Buy
A 5,000-SF paint store in west Little Rock sold for $973,191.

Pachyderm Properties LLC of Bloomfield Hills, Michigan, acquired the 724 Towne Oaks Drive project from Sherwin-Williams Co. of Cleveland.

The 0.62-acre location was bought for $141,000 in March 1996 from John Trotter.

Realty Office
The Little Rock home of the Janet Jones Co. drew a $600,000 transaction.

7915 Cantrell Road LLC, led by Susan Reynolds, purchased the 7915 Cantrell Road project from Joe Selz, John Borchert, Gaines Norton Jr. and Russell Armstrong.

The deal is backed with a five-year loan of $510,000 from IberiaBank of Lafayette, Louisiana.

The 0.43-acre development was ac-quired from Little Rock’s Union National Bank in June 1979 for $245,000.

Damgoode Transaction
A 2,990-SF Little Rock pizzeria is under new ownership after a $510,000 deal.

Pies in the Sky LLC, led by John Hathaway and Wes Martin, bought the Damgoode Pies project at 6706 Cantrell Road. The seller is Damgoode Properties LLC, led by Jeffrey Trine.

The deal is financed with a 20-year loan of $408,000 from BancorpSouth Bank of Tupelo, Mississippi.

The 0.78-acre development previous-ly was tied to an October 2014 mortgage of $493,000 held by Simmons Bank of Pine Bluff.

The property was assembled in October 2010 deals with Carrie On LLC, led by Barbara Ann Fowler, $304,000, and Lewis Block III, $101,000; and in a May 2014 deal with Ellen Golden, Direct Importer of French Antiques LLC, $145,000.

Coffee Land
A 2.79-acre commercial parcel in North Little Rock rang up a $385,000 sale. Westrock Coffee Roasting LLC, led by Scott Ford, acquired the land adjoining the west side of its 30 Collins Drive facility.

The seller is Landquisition LLC, led by Robert Summers. The property was bought for $122,000 in December 2012 from Brent and Lea Ann Bumpers.

Convenient Property
A 6,000-SF convenience store near Pinnacle Mountain State Park changed hands in a $200,000 deal.

United Lone Enterprises LLC, led by Mohammad and Shahlla Lone, purchased the 7808 Hwy. 300 project from Arvest Bank of Fayetteville.

The deal is funded with a three-year loan of $200,000 from Evolve Bank & Trust of West Memphis and a $200,000 loan from Charles D. Davidson.

The 0.76-acre development was recovered from Kim Joo and Chong Ho Kil and their JK Mart Inc. in December 2009 through a $200,000 foreclosure action.

Heights Home
A 4,705-SF home in the Heights area of Little Rock sold for $995,000.

Jason and Lara Hum bought the house from Jeff Fuller Homes LLC. The deal is backed with a 15-year loan of $453,100 from Centennial Bank of Conway.

The residence previously was linked with a November 2018 mortgage of $746,250 held by Bank OZK. The property was purchased for $615,000 in August 2017 from Nancy Huckabay.

River Ridge Abode
A 3,385-SF home in Little Rock’s River Ridge Pointe neighborhood drew a $592,000 transaction.

Billie Jo Graham acquired the house from David and Christina Ledbetter. The deal is financed with a 30-year loan of $473,600 from Cornerstone Home Lending Inc. of Houston, Texas.

The residence previously was tied to an October 2012 mortgage of $300,000 held by Fairway Independent Mortgage Corp. of Plano, Texas. The house was bought for $459,000 in June 2011 from the Ted Grace Revocable Trust.