$10.5M Sale Brings New Owners to Landings (Real Deals)


$10.5M Sale Brings New Owners to Landings (Real Deals)
(Google Earth)

A 154-unit apartment project in west Little Rock weighed in at $10.5 million.

C&W The Landings Apartments LLC and Woodcock Realty Holdings LLC of Midland, Texas, bought The Landings at Rock Creek at 13200 Chenal Parkway.

The seller is Landings Acquisition LLC, an affiliate of Maxus Properties of North Kansas City, Missouri.

C&W assumed a September 2016 mortgage of $7.8 million originated by Northmarq Capital Inc. of Bloomington, Minnesota.

The 7.39-acre development was purchased for $5.4 million in September 2001 from Chicago-based Waterton Rock Ltd., led by Peter Vilim.

Zaxby’s Transaction
Zaxby’s in Maumelle tipped the scales at $1.78 million.

DTT Properties LLC of Milledgeville, Georgia, acquired the 3,422-SF eatery at 104 Carnahan Drive from Gregel Restaurant Property II LLC of Cincinnati.

Gregel bought the 0.84-acre development for $1.8 million in May 2007 from IHDG Pulaski-01 LLC, led by William Walker.

Office Acquisition
A 7,980-SF office building in west Little Rock rang up a $1.34 million sale.

Shollmier LLC, led by Ken Shollmier, purchased the 20 Rahling Road project. The seller is Demiro Properties LLC, led by Michael and Deborah Brooks.

The 0.89-acre development previously was tied to a March 2013 mortgage of $1 million held by Centennial Bank of Conway.

The site was acquired for $151,000 in April 2003 from Deltic Timber Corp. of El Dorado.

Commercial Buy
An 8,324-SF office/retail project in west Little Rock changed hands in a $930,000 deal.

GNK Properties LLC, led by Denesh and Huma Khullar, bought the 1415 Breckenridge Drive property from Samuel and Stephanie Strong.

The deal is funded with a $1.6 million loan from Live Oak Banking of Wilmington, North Carolina.

The Strongs purchased the 0.74-acre development for $440,000 in November 1985 from William and Jean Casey.

Car Wash Construction
A car wash development is in motion after an $826,000 deal.

Cantrell Tunnel Wash LLC, led by Edward Bailey and Jim Harkins, acquired Hogwash Detail at 7708 Cantrell Road and Taqueria La Pasadita at 7706 Cantrell Road. The 5,440-SF mixed-use commercial project was sold by G.E.M. Properties LLC, led by Darush Malek.

The deal is backed with a five-year loan of $2.7 million from Relyance Bank of Pine Bluff.

The 0.79-acre development previously was linked with a December 2005 mortgage of $900,000 held by Summit Bank of Arkadelphia.

The property was bought for $800,000 in January 2006 from James and Mary Jo Lusk.

Office Deal
A 7,425-SF office building in south Little Rock is under new ownership after a $550,000 deal.

FSE AR Holdings LLC of Alabaster, Alabama, purchased the 8017 Interstate 30 project from Charles and Susan Taylor.

The deal is financed with a 10-year loan of $440,000 from PNC Bank of Birmingham, Alabama.

The 0.66-acre development previously was tied to a May 2009 mortgage of $540,000 held by BancorpSouth Bank of Tupelo, Mississippi.

The Taylors acquired the property for $445,000 in May 2009 from John and Debbie Rees.

Acreage Sold
An undeveloped 20-acre tract in west Little Rock drew a $425,000 transaction.

AR L Dev LLC, an affiliate of Rausch Coleman Homes of Fayetteville, bought the land on the west side of David O. Dodd Road, adjoining the north side of the Woodbridge Estates neighborhood.

The seller is C&P Land & Realty LLC, led by Angelo Coppola. Development of the property is funded with a two-year loan of $1.8 million from First Security Bank of Searcy.

The land previously was linked with an August 2017 mortgage of $206,270 held by the bank.

The property was purchased 20 months ago as part of a $275,000 deal with the Tucker Living Trust, led by June Tucker.

Warehouse Transaction
An 8,320-SF warehouse in Little Rock sold for $225,000. The One Inc., led by Aaron Reddin, acquired the 4500 W. 61st St. project from Centerpoint Energy Resources Corp. of Houston.

The deal is backed with a five-year loan of $180,000 from Simmons Bank of Pine Bluff.

Centerpoint’s predecessor, Arkla Gas Co., bought the 0.96-acre location in September 1955 as part of a $3,500 deal with the Industrial Development Co. of Little Rock, led by Everett Tucker Jr.

Valley Falls Estates
A 5,520-SF home in west Little Rock’s Valley Falls Estates neighborhood tipped the scales at $1.22 million.

Jay and Kimberly Bhama purchased the house from the Havens Family Revocable Trust, led by Kenneth and Callie Havens. The deal is financed with a 20-year loan of $900,500 from Bank of Little Rock Mortgage Corp.

The residence previously was tied to a November 2016 mortgage of $417,000 held by First Security Bank.

The site was acquired for $205,000 from Krishna Investment Trust, led by Kanti and Nila Sharolia.

Ensbury Place
A 3,434-SF home in the Ensbury Place neighborhood of west Little Rock rang up a $518,000 sale.

Ryan and Ashley Atkins bought the house from Karen James Custom Built Homes Inc. The deal is funded with a 30-year loan of $414,000 from Raymond James Bank of St. Petersburg, Florida.

The residence previously was linked with a December 2017 mortgage of $406,400 held by First Security Bank.

The site was purchased for $91,000 15 months ago from Deltic Timber.

Prospect Terrace
A 3,552-SF home in Little Rock’s Prospect Terrace neighborhood changed hands a $500,000 deal. Rocky and Jennifer Goodman acquired the property from Vic and Susan Fleming.

The deal is backed with a $400,000 loan from Gateway Mortgage Group LLC of Jenks, Oklahoma. The Flemings bought the house from Robert and Jamie Snider for $209,000 in April 1986.