River Pointe Apartments Attracts $40M Transaction (Real Deals)

River Pointe Apartments Attracts $40M Transaction (Real Deals)
(Google Earth)

A 384-unit apartment project in North Little Rock weighed in at $40 million.

HPI River Pointe LLC, an affiliate of Hamilton Point Investments of Old Lyme, Connecticut, bought River Pointe Apartments at 7325 Riverpointe Drive. The seller is Riverpointe Development LLC, led by Keith Richardson.

The deal is funded with a 7-year loan of $26 million from KeyBank of Cleveland.

The 14.3-acre site was acquired in August 2002 as part of a $626,000 deal with Riverview Development LLC, led by Billy Randall Machen.

Madison Health Buy

A 140-bed nursing home in south Pulaski County tipped the scales at $5.57 million.

2821 West Dixon Road LLC, an affiliate of Strawberry Fields REIT Ltd. of South Bend, Indiana, purchased the Madison Health & Rehab project.

The seller is Dixon Realty LLC, an affiliate of Skyline Healthcare of Woodbridge, New Jersey.

The 10.93-acre development was bought for $4 million in May 2016 from Trinik Holdings LLC, led by Saeed Niksefat.

Dollar Acquisition

A Dollar General store in North Little Rock rang up a $1.03 million sale.

C&O Enterprises LLC, led by Gary Childers and David Onstead, acquired the 9,000-SF project at 11046 U.S. Highway 165.

The seller is Oakley Investments LLC, led by Stephen Cox.

The deal is backed with a 7-year loan of $1.3 million from Simmons Bank of Pine Bluff.

Oakley Investments purchased the 1.14-acre development for $999,000 in March 2012 from PB General Holdings (NLR Hwy 165) LLC, led by Scott Proctor.

AG Expansion

A 6,516-SF office building in North Little Rock changed hands in a $920,000 deal.

First Assembly of God North Little Rock Inc. bought the 4512 Burrow Drive project from an ownership group divided among Larry Clary, 50%, and Harvey Thomas and John Tarkington, 25% each.

The 0.58-acre property was assembled in deals with Metro Builders Inc., led by Don Collie Sr., $150,000 in November 1985; and Collie, Reed and Katherine McConnell; John and Susan Jackson; Joe and Mary Smith; John and Phyllis Kincannon; Kevin and Catherine McConnell; along with Apartment House Builders Inc. and AHBI Consolidated Inc., both led by Reed McConnell Sr., $16,600 in September 1994.

Commercial Land

A 4.68-acre parcel in Sherwood sold for $900,000. David and Jacki Bruning purchased the land near the northwest corner of Silver Creek Drive and Warden Road from DoDa Construction LLC, led by Doug Meyer.

The property was bought in January 1996 as part of a $324,000 deal with the J.A. Faulkner estate.

Rural Commercial

A 42-acre mixed-use property in southwest Pulaski County drew a $750,000 transaction.

R&M Planning LLC, led by Christopher Meyer, acquired the 6,014-SF Cargo Carriers facility at 16800 Baseline Road from William and Sharon David.

The deal is financed with 5-year loans of $501,500 and $110,500 from IberiaBank of Lafayette, Louisiana.

The property was assembled in two deals with Jeanie Leonard, $157,000 in April 1997; and Patricia Robinson, Hazel Banks and Larry, Michael and Willis Wright, $73,000 in September 2004.

Pinnacle North Sale

A 75,051-SF industrial facility in Little Rock is under new ownership after a $730,000 deal.

NSF LLC, led by Richard Akel, purchased the 1400 E. 28th St. project.

The seller is Pinnacle North Corporate Aircraft Interiors LLC, led by Ronald Powell Jr.

The deal is funded with a 7-year loan of $800,000 from Relyance Bank of Pine Bluff.

The 4.35-acre development previously was tied to an August 2014 funding agreement of $6 million with Advantage Capital Community Development Fund LLC of New Orleans.

Pinnacle North acquired the property for $800,000 in August 2014 from Ben and Diane Davis.

Maumelle Commercial

A former Sonic project in Maumelle changed hands in a $325,000 deal.

BDP Holdings LLC, led by Brent Medders, bought the 0.91-acre development at 101 Carnahan Drive. The seller is Hard-Mark Land Co., led by Van Eberhard.

The property previously was linked with a July 2009 mortgage of $879,407 held by Regions Bank of Birmingham, Alabama.

Hard-Mark purchased the location for $175,000 in August 1990 from Bob Fewell.

Edgehill Manor

A 4,744-SF home in Little Rock’s Edgehill neighborhood weighed in at $1.8 million.

Two Edgehill Residence Trust, led by Scott Landers, acquired the house from Dr. Michael Bauer III.

The residence previously was tied to a $1.3 million funding agreement with Simmons Bank.

Bauer bought the property for $999,000 in December 1995 from Richard and Susan Wildung.

Rural Residence

A 3,482-SF home in west Pulaski County rang up a $850,000 sale.

Persons Family Revocable Living Trust purchased the 10.7-acre spread from Geoffrey and Stacy Tirman. The property now is helping secure a 9-month funding agreement of $1 million from Southern Bank of Poplar Bluff, Missouri.

The Tirmans acquired the residence for $950,000 in April 2018 from Thomas and Jennifer Burnett.

Canal Pointe

A 4,073-SF home in Little Rock’s Canal Pointe neighborhood changed hands in an $828,500 deal.

Spencer and Jennifer Andrews bought the house from the Steven & Norma Hoffman Joint Revocable Trust.

The Hoffmans purchased the location for $80,000 in February 1998 from Pleasant Valley Inc., led by Marion Burton.

Shadow Lawn

A 3,189-SF home in Little Rock’s Shadow Lawn neighborhood sold for $530,000.

Brad and Suzanne Howard acquired the house from the Meadors Family Bypass Trust, led by Frederick and Andrew Meadors. The deal is backed with a 30-year loan of $424,000 from First Security Bank of Searcy.

The property was bought for $27,000 in June 1964 from William and Frances Powers.

Woodlands Edge

A 4.917-SF home in the Woodlands Edge neighborhood of west Little Rock drew a $518,285 transaction.

Timothy and Elaine Baxter purchased the house from HA Custom Homes LLC, led by Subrahmanyam Narravula.

The deal is financed with a 30-year loan of $484,350 from SWBC Mortgage Corp. of San Antonio. The residence previously was linked with an October 2018 mortgage of $421,600 held by BancorpSouth Bank of Tupelo, Mississippi.

The location was acquired for $66,000 in July 2016 from Rocket Properties LLC, led by Lisenne Rockefeller and Ron Tyne.

Shady Valley

A 4,076-SF home in North Little Rock’s Shady Valley neighborhood is under new ownership after a $500,000 deal. Zachary and Arlene Hemphill bought the house from the Robert & Nancy Miller Joint Revocable Trust.

The deal is funded with a 30-year loan of $474,999 from IberiaBank. The residence previously was tied to a February 2013 mortgage of $303,000 held by Telcoe Federal Credit Union of Little Rock.

The Millers purchased the property for $560,000 in August 2006 from the Grayson Living Trust, led by Keith and Melanie Grayson.