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Golden Corral, Twin Peaks Tandem Buy Tallies $6.3M (Real Deals)Lock Icon

4 min read

Tandem sales of a North Little Rock eatery and a west Little Rock breastaurant added up to more than $6.3 million.

Spirit Master Funding X LLC, an affiliate of Spirit Realty Capital in Dallas, purchased the 12,258-SF Golden Corral at 5001 Warden Road for $3.58 million and the 6,971-SF Twin Peaks at 10 Shackleford Drive for $2.79 million.

The sellers are SVCN 2 LLC and SVCN 5 LLC, affiliates of the RMR Group in Newton, Massachusetts.

The 2.99-acre Golden Corral development previously helped secure a September 2005 funding agreement overseen by Citibank of Sioux Falls, South Dakota.

The project was purchased for $3 million in September 2005 from GE Capital Franchise Finance Corp. of Scottsdale, Arizona.

The 2.1-acre Twin Peaks development previously helped secure a November 2014 funding agreement of nearly $2.5 billion overseen by Citibank.

The project was acquired for $2.3 million in June 2014 from TC Little Rock LLC of Phoenix.

Multifamily Flip I

A 52-unit apartment project in midtown Little Rock is under new ownership after a $2.77 million flip.

LEIA2019 Properties LLC, led by Rick Ferguson, sold Pinnacle Rock Apartments at 1100 Fair Park Blvd.

The buyer is Bandit Properties LLC, led by John Dennis. The deal is financed with a seven-year loan of $2.3 million from Encore Bank of Little Rock.

LEIA2019 bought the 0.91-acre development for $2.69 million two months ago from Pinnacle Rock Apartments LLC, led by Ethan Schultz and Garrett Edwards.

The project previously was tied to an October 2017 mortgage of $1.7 million held by First Security Bank of Searcy.

Pinnacle Rock purchased the property for $1.3 million in November 2015 from Fair Park Gardens LLC, led by Keith Holland.

Multifamily Flip II

A 24-unit apartment project in Little Rock changed hands as part of a $1.17 million flip.

LEIA2019 Properties sold Mabelvale Apartments at 7414 Mabelvale Pike and an adjoining 1.22-acre parcel.

The buyer is Bandit Properties LLC, led by John Dennis.

The transaction is backed with a seven-year loan of $999,600 held by Encore Bank.

LEIA2019 acquired the 0.65-acre development and the adjoining parcel for $1.08 million two months ago from Mabelvale Rose LLC, led by Ethan Schultz.

The property previously was linked with a September 2018 mortgage of $819,400 held by Relyance Bank of Pine Bluff.

Mabelvale Rose bought the property for $864,000 more than 19 months ago from Van Geuns Properties LLC, led by Jeffrey Du Celliee Muller.

Entergy Office

A 10,697-SF office building in downtown Little Rock sold for $826,500.

Entergy Arkansas LLC, a subsidiary of New Orleans-based Entergy Corp., repurchased its 901 Louisiana St. project from Coral Gables LLC of New York.

The 0.48-acre development was sold for $699,000 in April 1976 by Entergy Arkansas’ predecessor, Arkansas Power & Light Co.

Arcturus Acquisition

A 15,780-SF office-warehouse in Little Rock drew a $550,000 transaction.

Arcturus Inc. of Oxnard, California, bought the 11225 Interstate 30 project from Buehler Properties LLC, led by Darwin and Lisa Buehler.

The deal is funded with a three-year loan of $460,958 from First Community Bank of Batesville.

The 0.74-acre development previously helped secure an April 2019 mortgage of $1.3 million held by Arvest Bank of Fayetteville.

Buehler purchased the property for $580,000 in February 2006 from Fluid Handling Components Inc., led by Kris Holiman.

Anchor Buy

A 2,455-SF former bank branch in North Little Rock rang up a $315,000 sale.

Anchor Realty Investments LLC, led by David Bubbus, acquired the 3200 JFK Blvd. project from Pontus Vault Portfolio II LLC of La Jolla, California.

The deal is financed with a 10-year loan of $250,000 from Citizens Bank of Batesville.

The 0.55-acre development was bought for $470,000 in April 2016 from First States Investors 6000C Ltd. of New York.

Church Purchase I

A 17,232-SF church project in North Little Rock is under new ownership after a $232,994 sale.

Stewards of Christ Outreach Inc. purchased the 4706 Atkins St. property from New Deliverance Temple Church of God in Christ.

The deal is backed with a $232,994 loan from Centennial Bank of Conway.

The 1.23-acre development previously was tied to a February 2006 mortgage of $367,493 held by Twin City Bank of North Little Rock.

Deliverance Temple acquired the property for $500,000 in July 2002 from Rose City Immanuel Baptist Church.

Church Purchase II

A 4,070-SF church in southwest Little Rock changed hands in a $175,000 transaction.

Eagle Saints Outreach Ministry International bought the 3405 Baseline Road property from Baseline Christian Church Inc.

The deal is funded with a five-year loan of $145,000 from Arvest Bank.

The 3.84-acre property was assembled in four transactions totaling $8,550.

The sellers were Alice Breedlove, Dave and Ailene Denton and Louis and Eloise Mize, $500 in October 1951; Breedlove, $1,000 in December 1952; Ailene Denton, $1,050 in June 1954; and Robert and Marnette Sengel, $6,000 in September 1957.

Pleasant Valley

A 4,096-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $777,000.

Arlee Busby III and his wife, Melanie, acquired the house from Kyle and Robyn Allmendinger. The deal is financed with

a 30-year loan of $510,000 from First-Trust Home Loans Inc. of Sheridan.

The Allmendingers bought the property for $320,000 in October 2009 from John and Jan Turbeville.

Rural Residence

A 4,036-SF home in west Pulaski County drew a $760,000 transaction.

David and Jennifer Kuperman purchased the house from Thomas and Martha Galek. The deal is backed with a 30-year loan of $749,999 from Regions Bank of Birmingham, Alabama.

The Galeks acquired the property for $170,000 in August 1985 from James Bearden.

Cammack Woods

A 3,367-SF home in Cammack Village rang up a $619,000 sale.

Sean and Audrey Morell bought the Cammack Woods house from Hartness Construction Co., led by Brenda Hartness. The deal is funded with a 30-year loan of $619,000 from Arvest Bank.

The residence previously was linked with a June 2019 mortgage of $489,600 held by Bank of Little Rock Mortgage Corp.

The location was purchased for $180,000 11 months ago from CBM Appraisals Inc., led by Chris Maris.

Lamarche Place

A 4,321-SF home in west Little Rock’s Lamarche Place neighborhood is under new ownership after a $511,000 transaction.

Glenn Anderson acquired the house from Jamaal Anderson. The deal is financed with a 30-year loan of $408,800 from Paramount Residential Mortgage Group Inc. of Corona, California.

The residence previously was tied to an April 2013 mortgage of $381,500 held by Quicken Loans Inc. of Detroit.

The property was bought for $500,000 in September 2007 from James and Zada Adametz.

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