Wilmington Apartments Hosts $8M Transaction (Real Deals)


Wilmington Apartments Hosts $8M Transaction (Real Deals)
Wilmington Apartments, a 120-unit apartment project at 617 Donovan Briley Blvd. in North Little Rock, was built in 2002. (Pulaski County Assessor)

A 120-unit apartment complex in North Little Rock weighed in at $8 million. Wilmington Little Rock LLC, an affiliate of RREAF Holdings of Dallas, bought Wilmington Apartments at 617 Donovan Briley Blvd.

The seller is Republic Wilmington Ltd., an affiliate of Toronto’s Republic Funds.

The deal is financed with a seven-year loan of $6.4 million from Berkadia Commercial Mortgage LLC of Horsham, Pennsylvania.

The 17.11-acre development previously was linked with a July 2017 mortgage of $3.9 million held by Arbor Commercial Funding I LLC of Uniondale, New York.

The property was acquired three years ago for $4.9 million from Wilmington Acquisition LLC, an affiliate of Maxus Properties of Kansas City, Missouri.

Branch Buy

The tenant became the owner of a west Little Rock bank branch in a $1.25 million transaction.

First Service Bank of Greenbrier purchased its 5,842-SF office at 700 Hardin Road from Anchor Realty Investments LLC, led by David Bubbus.

The 0.97-acre development previously was tied to an April 2019 mortgage of $722,500 held by Simmons Bank of Pine Bluff.

Anchor Realty bought the property for $850,000 15 months ago from IberiaBank of Lafayette, Louisiana.

Bakery Purchase

An 11,068-SF bakery project in Sherwood changed hands in an $825,000 transaction.

5750 Commerce Sherwood LLC, led by Adam Hart, acquired the Flowers Bakery facility at 5750 Commerce Court from the Joyce Ramsey Trust No. 1.

The deal is funded with a five-year loan of $962,000 from First Security Bank of Searcy.

The 1.35-acre location was purchased for $112,000 in December 1999 from Sherwood Office Partnership, led by Willis Smith.

Clean Acquisition

A west Little Rock car wash sold for $732,050. Sharkleford Corner LLC, led by James Harkins, Russell Short and Edward Bailey, bought the Suds project at 10801 W. Markham St.

The seller is Markham Autowash LLC, led by Mark Middleton.

The deal is backed with a five-year loan of $643,492 from Armor Bank of Forrest City.

Markham Autowash acquired the property for $475,000 in March 2011 from Centennial Bank of Conway.

Site Transaction

A 0.75-acre commercial parcel in southwest Little Rock drew a $35,000 transaction.

Rex and Tammy White purchased the land at the northeast corner of Distribution and Production drives from J.E. Hawkins Ltd. LLLP.

The property was bought for $30,000 in January 1980 from Allstate Investments Inc., led by Tommy Swarek.

Country Club House

A 4,470-SF home near the Country Club of Little Rock tipped the scales at $1.3 million.

John Mark Saviers and his wife, Melissa, acquired the property from Mac and Pat Dodson. The deal is financed with a 15-year loan of $1 million from BancorpSouth Bank of Tupelo, Mississippi.

The Dodsons purchased the residence for $550,000 in June 1994 from the Abner McGehee Sr. Life Trust.

Heights Home

A 4,750-SF home in the Heights area of Little Rock rang up a $995,000 sale.

Nicholas and Lindsay Makris bought the house from the Fillmore Trust, led by John and Melissa Rutledge. The deal is funded with a 30-year loan of $450,000 from Simmons Bank.

The residence previously was linked with an October 2011 mortgage of $400,000 held by First Security Bank.

The property was acquired for $882,000 in April 2011 from Susan Nichols.

Valley Falls

A 5,418-SF home in the Valley Falls Estates neighborhood of west Little Rock is under new ownership after an $850,000 transaction.

The Jeffrey Dean Weatherly Revocable Trust purchased the house from Susan Plunkett. The deal is financed with a 25-year loan of $680,000 from Regions Bank of Birmingham, Alabama.

The location was bought for $170,000 in June 2001 from VFE LLC, led by Rick Ferguson.

Walton Heights

A 4,180-SF home in west Little Rock’s Walton Heights neighborhood changed hands in a $740,000 deal.

Elizabeth and Stephan Seng acquired the house from the Robertson Family Trust, led by Daniel and Tiffany Robertson. The deal is funded with a 30-year loan of $510,001 from Bank of Little Rock Mortgage Corp.

The residence previously was tied to a September 2016 mortgage of $385,000 held by Finance of America Mortgage LLC of Horsham, Pennsylvania.

The Robertsons purchased the property for $601,000 in October 2012 from John and Lacy Eidt.

Falstone Court I

A 4,950-SF home in west Little Rock’s Falstone Court neighborhood sold for $699,500.

Robert and Misty Knighten bought the house from Willmark Homes Inc., led by Mark Caruthers. The deal is backed with a 15-year loan of $400,000 from Weichert Financial Services of Morris Plains, New Jersey.

The residence previously was linked with a June 2019 mortgage of $480,000 held by Centennial Bank. Willmark acquired the site for $100,000 13 months ago from PotlatchDeltic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington.

Villages at Wellington

A 4,300-SF home in the Villages at Wellington neighborhood of west Little Rock drew a $605,000 transaction

Asif Valani purchased the house from MJ Innovative Builders Corp., led by Jamal Solaimanian. The deal is financed with a 30-year loan of $468,000 from U.S. Bank of Cincinnati.

MJ Innovative bought the site for $73,000 in August 2015 from Winrock Enterprises Inc., led by Russ McDonough Jr.

Falstone Court II

A 4,000-SF home in west Little Rock’s Falstone Court neighborhood rang up a $596,780 sale.

Amanda Harcrow and Dewey Hopkins III acquired the house from B&D Homes Inc., led by Ben Wiedower.

The deal is funded with a 30-year loan of $437,101 from Regions Bank. The residence previously was tied to a September 2019 mortgage of $333,000 held by First Security Bank.

B&D Homes bought the site for $121,000 10 months ago from PotlatchDeltic Real Estate.

Riviera Residence

A 2,866-SF condo in the Riverdale area of Little Rock is under new ownership after a $570,000 transaction.

Kenneth and Stephanie Gunderman purchased the 10th-floor residence at 3700 Cantrell Road from Riviera Partners LLC, led by Randy Mourot.

The space previously helped secure an April 2007 mortgage of $15 million held by Centennial Bank.

The 123,976-SF Riviera Building was acquired for $6.6 million more than 13 years ago from Heartland Properties Corp., led by Larry McCraw.

Kingwood Place

A 3,531-SF home in Little Rock’s Kingwood Place neighborhood changed hands in a $540,000 deal.

Rockwood Family Revocable Trust, led by Sydney Ann Ragon Clifford and Heartsill Ragon III, bought the house from Tonya and Vincent Dunlap.

The deal is backed with a 30-year loan of $415,000 from Bank of England. The residence previously was linked with a March 2016 mortgage of $417,000 held by IberiaBank of Lafayette, Louisiana.

The Dunlaps purchased the property for $585,000 more than four years ago from David and Jessica McElreath.