Woodland Heights Draws $37.7M Transaction (Real Deals)


A 146-unit senior living project in west Little Rock tipped the scales at a reported $37.75 million.

WOJV Little Rock LLC, an affiliate of New York’s White Oak Healthcare Finance, purchased the Woodland Heights project at 8700 Riley Drive. The seller is Woodland Heights Al Real Estate LLC, an affiliate of Compass Pointe Healthcare Systems of Baltimore.

The deal is part of a $79.6 million funding agreement with M&T Realty Capital Corp. of Baltimore.

The 6.62-acre development and an adjoining undeveloped 1.02-acre parcel previously were tied to a May 2015 mortgage of $17.4 million held by Compass Bank of Birmingham, Alabama.

The property was bought for $13.9 million from Woodland Heights LLC, an affiliate of the Arkansas Teacher Retirement System.

Office Park Acquisition

A 40,607-SF office complex in North Little Rock weighed in at $1.87 million.

Two Cops And A Lot LLC, an investment group led by John Hathaway and Wes Martin, bought the Commercial Office Parks at 4610-4704 Commercial Drive.

The seller is Danco Construction Co., led by Preston Wright. The deal is financed with a $1.4 million loan from Encore Bank of Little Rock.

The 4.25-acre development was assembled in 1994 buys from Old World North Ltd., led by Mary Louise Thompson, $1.3 million in June and from Reed and Katherine McConnell, Kevin and Catherine McConnell, John and Phyllis Kincannon, Joe and Mary Smith, John and Suzanne Jackson and Donald and Bonnie Collie, $202,000; their Apartment House Builders Inc., $185,000; and their AHBI Consolidated Inc., $185,000 in August.

Convenient Purchase

A 2,370-SF convenience store in downtown North Little Rock changed hands in successive $1 million deals. US Assets Acquisition LLC of Dallas acquired the Exxon project at 416 E. Broadway from Magness Family LLLP, led by Jeff Magness, for $1.08 million.

In turn, SCF RC Funding IV LLC, an affiliate of SCF Realty Capital of Princeton, New Jersey, purchased the 0.58-acre development adjoining Verizon Arena for $1.15 million.

The project previously helped secure a January 2014 funding agreement of $44.9 million administered by RBS Citizens of Providence, Rhode Island.

The site was bought for $171,000 in April 1993 from Exxon Corp. of Houston, Texas.

Office-Warehouse Buy

An office-warehouse in southwest Little Rock rang up an $850,000 transaction.

White River Property Transactions LLC, led by Robert Abney, purchased the 32,320-SF Doss Moving project at 6600 Interstate 30 from the Doss Living Trust of Sierra Vista, Arizona.

The 4.01-acre development previously was linked with a May 2013 mortgage of $511,850 held by Arvest Bank of Fayetteville.

The property was acquired for $1.05 million in December 2007 from WJH Little Rock LLC of Memphis.

NLR Office

A 7,144-SF office building in North Little Rock drew a $450,000 transaction.

Blue Learning of Lewisville, Texas, bought the 801 W. 29th St. project from the Clifton Family LLLP, led by Norman Clifton.

The 0.6-acre development was purchased for $211,000 in September 2014 from Marple Investments LLC, led by Roy and Shirley Marple.

Postal Property

A 3,288-SF post office in Scott delivered a $416,250 sale. APIF-Arkansas LLC, an affiliate of American Infrastructure Funds in Foster City, California, acquired the 14918 Alexander Road project.

The seller is FDI Postal Properties II Inc., an affiliate of Frall Developers in Mount Airy, Maryland.

The 1.67-acre development is now helping secure a $425 million funding agreement administered by Citizens Bank of Cleveland.

FDI bought the property for $400,000 in July 1998 from Little Rock’s Terry Moore & Associates Inc.

Chenal Downs

A 9,638-SF home in west Little Rock’s Chenal Downs neighborhood tipped the scales at $1.47 million.

Frank and Michelle Tetnowski purchased the 5.39-acre residential spread from Sharilyn Gasaway.

The deal is funded with a 30-year loan of $1.1 million from Angle Oak Mortgage Solutions LLC of Atlanta.

Gasaway acquired the location for $225,000 in April 2009 from Rick Ferguson.

Ridgefield Estates

A 5,742-SF home in the Ridgefield Estates neighborhood of Pulaski County is under new ownership after a $640,000 sale.

Scott and Kathleen Gatlin bought the house from James and Teresa Alexander.

The deal is backed with a 30-year loan of $484,000 from Simmons Bank of Pine Bluff. The 5.35-acre residential spread previously was tied to a May 2017 mortgage of $424,100 held by Simmons.

The Alexanders purchased the for $650,000 in August 2016 from the Francis and Mary Browning Revocable Trust.

Cypress Pointe

A 4,255-SF home in west Little Rock’s Cypress Pointe neighborhood changed hands in a $615,000 deal. Jeff and Candice Whitlock acquired the residence from Jeff and Carrie Hankins.

The house previously was linked with a January 2013 mortgage of $384,000 held by Bank of Little Rock Mortgage Corp.

The location was bought for $110,000 in June 2004 from Ranch Properties Inc., led by Ed Willis.

Woodlands Edge

A 3,974-SF home in west Little Rock’s Woodlands Edge neighborhood rang up a $550,100 sale.

Syed and Sumera Ali purchased the house from Max C. Goolsby Revocable Trust.

The deal is financed with a 30-year loan of $556,370 from Arvest Bank.

Goolsby acquired the residence for $535,000 in May 2016 from Dillon Group Inc., led by Janet Dillon.

Grandview House

A 3,352-SF home in Little Rock’s Grandview neighborhood attracted a $530,000 transaction.

James Mitchell III and his wife, Sara, bought the house from Virginia Buttry. The deal is funded with a 15-year loan of $424,000 from Simmons Bank.

The residence previously was tied to a December 2009 mortgage of $230,000 held by Regions Bank of Birmingham, Alabama.

The property was purchased for $69,000 in October 1975 from Harold Sebring Jr. and his wife, Sue.

Marabel Court

A 4,024-SF home in the Marabel Court neighborhood of west Little Rock’s Chenal Valley development sold for $520,000.

Joshua and Melissa Fraum acquired the house from Brent and Mary Lutz. The deal is backed with a 30-year loan of $484,350 from Bank of Little Rock Mortgage.

The residence previously was linked with a March 2017 mortgage of $240,000 held by BancorpSouth Bank of Tupelo, Mississippi.

The Lutz family bought the property for $482,000 30 months ago from Mark Baker Custom Homes Inc.

Hillcrest Home

A 2,223-SF home in the Hillcrest area of Little Rock is under new ownership after a $515,000 deal.

Michael and Elizabeth Peeler purchased the house from Steven and Kimberly Gardner.

The deal is financed with a 30-year loan of $412,000 from Bank of Little Rock Mortgage.

The residence previously was tied to an April 2015 mortgage of $225,000 held by First Financial Bank of El Dorado.

The property was acquired for $79,000 in May 2008 from James Williamson.