Village at Valley Ranch Draws $10.5M Transaction (Real Deals)


Village at Valley Ranch Draws $10.5M Transaction (Real Deals)

A 90-bed nursing and rehabilitation facility in west Little Rock tipped the scales at $10.5 million.

OM ACQ LLC, an affiliate of Conway’s Reliance Health Care Inc., bought the Village at Valley Ranch at 6411 Valley Ranch Drive. The seller is Wagnon Place Inc., led by Joey Wiggins.

The deal is backed with a five-year loan of $8.9 million from First Community Bank of Batesville. The 4.62-acre development previously was linked with February 2020 mortgages of $6.6 million held by First National Bank of Paragould and $1 million held by Frisco Valley LLC, led by Kris Compton.

Wagnon Place acquired the property seven months ago for $7.8 million from Frisco Health Investments Ltd., led by Compton and Jeffrey Smithers.

Tandem Lube Buys

A pair of quick lube projects sold for a combined $960,000.

Ozark Lubes Realty LLC of Marlborough, Massachusetts, purchased the Razorback Quik Lube at 6011 W. 12th St. in Little Rock and the Magic Lube at 513 N. J.P. Wright Loop Road in Jacksonville for $480,000 each.

The sellers are State Line Properties LLC and Magic Lube Corp. of Arkansas, both led by James Richard Murphy.

The 1,600-SF Little Rock project previously was tied to a March 2020 mortgage of $505,000 held by Partners Bank of Helena-West Helena. The 2,580-SF Jacksonville project was linked with an October 2019 mortgage of $685,000 held by the bank.

The 0.38-acre Little Rock development was acquired for $375,000 six months ago from Thomas Roe Properties Inc., led by Donald Roe.

The 0.66-acre Jacksonville property was bought for $375,000 in April 1996 from Martha Harris.

Agri Acquisition

A 124.3-acre agri property in east Pulaski County changed hands in a $715,000 deal.

Westbrook Farms LLC, led by Kent Westbrook, acquired the land at the northeast corner of Interstate 40 and East Valentine Road. Jay Cunningham, the seller, financed the deal by carrying a five-year mortgage of $515,000. The farmland was tied to a January 2014 mortgage of $125,000 held by the Bank of England.

The property was purchased in December 1994 for $85,000 from the Harold Young Trust.

Multifamily Sale

A six-unit apartment house in downtown Little Rock is under new ownership after a $575,000 deal.

Cat Lap Flats LLC, led by Adam Smith, bought the 1004 Scott St. project from Little Rock Historic Properties LLC, led by Mark Brown and Jill Judy. The deal is funded with a 20-year loan of $488,750 from First National Bank of Paragould.

The 0.22-acre development previously was linked with a March 2016 mortgage of $303,000 held by Little Rock’s One Bank & Trust. The property was acquired for $245,000 in May 2009 from Angela and John Dougan.

Dixon Manor

A 77-unit mobile home park in south Pulaski County rang up a $361,000 sale.

Granite Hill MHP LLC of Garwood, New Jersey, purchased the 1700 W. Dixon Road project from Dixon Manor LLC of Corte Madera, California.

The 12.37-acre development was bought for $805,000 in August 2012 from Dixon Manor MHP LLC of Cedaredge, Colorado.

Commercial Duo

Two small commercial buildings in Little Rock drew a $260,000 transaction.

Suha LLC, led by M.D. Shahnawaj, acquired the 2,030-SF project at 2223 W. Markham St. and the 1,200-SF project at 2201 W. Markham St. from LLP LLC, led by Lance Levi.

The deal is backed with a $208,000 loan from Centennial Bank of Conway.

The combined 0.27-acre development was purchased for $115,000 in July 2005 from Edgar Easley.

River Residence

A 4,994-SF home in the Two Rivers Harbor neighborhood on the western edge of Little Rock weighed in at $1.1 million. The Aisa Trust, led by Sadiq and Shirin Ali, bought the house from Adele and Robert Berry.

The residence was tied to a December 2015 mortgage of $1 million held by IberiaBank of Lafayette, Louisiana.

The 1.47-acre property was acquired for $219,000 in March 2006 from Bottom Line Inc., led by Charles Hinson.

The Estates

A 5,056-SF residence in The Estates neighborhood of west Little Rock sold for $750,000. The Warren & Allison Davis Trust purchased the house from the William Daniel Wright Revocable Trust.

The home was bought for $840,000 in April 2004 from Cliff Ford.

Ensbury Place

A 4,060-SF home in west Little Rock’s Ensbury Place neighborhood changed hands in a $668,400 deal.

Drew and Sydney Smith acquired the house from Liberty Construction LLC, led by Mark Shepard. The deal is financed with a 15-year loan of $510,400 from Simmons Bank of Pine Bluff.

The residence was linked with an August 2019 mortgage of $504,000 from Centennial Bank. Liberty Construction purchased the site for $102,000 in Octo-ber 2018 from Homes by Hesley Inc., led by Richard Hesley.

Mirabel Court

A 4,214-SF home in west Little Rock’s Mirabel Court neighborhood is under new ownership after a $628,000 transaction. The Jones Family Trust, led by Steve and Mary Jones, bought the house from Mohamed Kamel and Hoda Aref.

The residence previously was tied to a November 2017 mortgage of $515,250 from U.S. Bank of Cincinnati.

The property was acquired nearly three years ago for $572,500 from Turner & Sons Construction Inc., led by John Turner.

Miramar Place

A 3,533-SF home in west Little Rock’s Miramar Place neighborhood rang up a $537,500 sale.

Everette Hatcher IV and his wife, Kari, purchased the house from Brent and Kristi Robinson. The deal is backed with a 30-year loan of $430,000 from Simmons Bank.

The Robinsons bought the residence for $506,361 in February 2017 from WI Properties LLC, led by Todd Witham.