Little Rock Apartment Complexes Draw $2.7M Transaction (Real Deals)


Little Rock Apartment Complexes Draw $2.7M Transaction (Real Deals)
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The sale of two apartment projects in Little Rock tipped the scales at $2.75 million.

Nectarine LLC of Redmond, Washington, bought the 33-unit Cantrell Valley Apartments at 7201 Kentucky Ave. and the 52-unit Clearbrook Village Apartments at 619 and 719 Brookside Drive from Parker Investments LLC, led by Ricky Parker.

The deal is backed with a five-year loan of $2.2 million from Arkansas Federal Credit Union of Jacksonville.

The 0.85-acre Cantrell Valley development and the combined 1.46-acre Brookside development were linked with a November 2016 mortgage of $3.1 million held by Chambers Bank of Danville.

Brookside was purchased for $1.4 million in September 2016 from Rock Ventures LLC, led by Michael Vick Jr. and Jason Mathis.

Cantrell Valley was acquired for $1.2 million in November 2016 from Jarrett Property Management EYBJ LLC, led by Emery Jarrett.

Commercial Land

A 2.55-acre commercial site in west Little Rock changed hands in a $930,000 transaction.

Two Rahling Centre LLC, led by John Rees, purchased the land near the northeast corner of Cantrell and Rummell roads. The seller is KMS Legacy LLC, led by Kristy Spann.

The land was tied to a February 2016 mortgage of $485,000 held by Centennial Bank of Conway.

KMS bought the property for $510,000 more than four years ago from IberiaBank of Lafayette, Louisiana.

Deco Acquisition

A 7,100-SF commercial project in North Little Rock rang up a $750,000 sale. Deco Property Holdings LLC, led by Brett Decoursey, acquired the property at 7525 Young Road from the Michael D. Zweifler Revocable Trust.

The trust provided a 20-year mortgage of $750,000 to finance the deal.

Zweifler purchased the 1.14-acre development for $251,000 in December 2010 from Vernon and Patricia Weiner and Clyde and Marcie Brooks.

Rental Sale

An 8,060-SF retail project in Jacksonville is under new ownership after a $725,000 deal.

Raines Bros. Development Co. LLC of Ashburn, Georgia, bought the Aaron’s Rent To Own at 805 N. First St. from Cantrell View Partnership, led by Bek Kaiser and the Willis R. Smith Revocable Trust.

The deal is financed with a three-year loan of $580,000 from First Arkansas Bank & Trust of Jacksonville.

The 0.78-acre development previously was linked with a 2008 mortgage of $600,000 held by BancorpSouth Bank of Tupelo, Mississippi.

Cantrell View acquired the property in February 1997 as part of a $378,000 deal with Boatmen’s National Bank of Arkansas in Little Rock.

Office Transaction

A 4,464-SF office building in west Little Rock drew a $630,000 transaction.

Merica Financial of Baton Rouge and Taylorized Properties LLC, led by Scottie Taylor, purchased the 11524 Fairview Road project in a 67%-33% ownership split. The seller is BMR Inc., led by Robert Alexander.

BMR bought the 0.42-acre development for $430,000 in May 1995 from The Irwin Co., led by Jim Irwin; and McCarley & Co., led by Robert McCarley.

Golden Investment

A four-unit apartment property in downtown Little Rock sold for $273,000.

Golden Investments LLC, led by Steven and Jane Douglas, acquired the 1015 Scott St. project. The seller is Quapaw Properties LLC, led by Kathy Wells.

The deal is funded with a three-year loan of $326,250 from First Security Bank of Searcy. Quapaw Properties purchased the 0.16-acre development for $240,000 in November 2005 from Paulette and George Blevins Jr.

Heights Teardown

A residential teardown development in Little Rock’s Country Club Heights neighborhood is in motion after a $1.15 million transaction.

Jeff Fuller Homes LLC bought the 4,551-SF home from Beverly Baird Coleman and sold the 0.48-acre property in split sales of $625,000 each to Seth and Hailey Easley and JL Investments LLC, led by Jason and Lara Hum.

Construction of the Hums’ home is backed with a $1.3 million loan from First Security Bank.

The Baird family acquired the property for $2,083 in April 1924 from Little Rock’s Southern Trust Co.

Club House I

A 3,079-SF home near the Country Club of Little Rock changed hands in a $740,000 deal.

Jake Bequette purchased the house from Nicholas and Lindsay Makris. The residence was tied to a June 2019 mortgage of $424,570 held by Simmons Bank of Pine Bluff.

The Makris family bought the property for $709,000 in March 2017 from Shawn and Elizabeth Grotte.

Woodlands Edge

A 4,925-SF home in west Little Rock’s Woodlands Edge neighborhood rang up a $730,000 sale.

Kristin Zorn acquired the house from Nicholas and Jamie Booker. The deal is financed with a 30-year loan of $739,506 from Simmons Bank. The residence was linked with a July 2016 mortgage of $564,000 held by Regions Bank of Birmingham, Alabama.

The Bookers purchased the property for $705,000 more than four years ago from the Michael & Valerie Moran Family Revocable Trust.

Club House II

A 2,511-SF home near the Country Club of Little Rock is under new ownership after a $670,000 deal.

Ellis and Sandra Register bought the house from Jay and Sara Mitchell. The deal is funded with a 30-year loan of $510,400 from Gateway Mortgage Group of Jenks, Oklahoma.

The residence was tied to a November 2014 mortgage of $417,000 held by Bank of Little Rock Mortgage Corp.

The Mitchells acquired the property for $590,000 in March 2014 from Morgan and Jennifer Keyes.

Creekside Abode

A 3,858-SF home in Sherwood’s Creekside neighborhood drew a $625,000 transaction. Harold and Carolyn Settle purchased the house from Kellco Custom Homes Inc., led by Tracie Kelley.

The residence was linked with a December 2019 mortgage of $476,000 held by First Security Bank. The site was bought for $94,000 nine months ago from Metropolitan Realty & Development LLC, led by Michael Friederichsmeyer.

Miramar Place

A 3,626-SF home in west Little Rock’s Miramar Place neighborhood sold for $567,000.

Raj Patel and Min Kim acquired the house from Jonathan and Lisa Goldberg. The deal is backed with a 15-year loan of $453,600 from JPMorgan Chase Bank of Columbus, Ohio.

The Goldbergs purchased the residence for $560,000 in April 2016 from The Wilson Co., led by Janet Dillon.

East Palisades

A 2,426-SF home in Little Rock’s East Palisades neighborhood changed hands for $527,500.

Ryan and Sarah Gibson bought the house from Jon and Janet Teague. The deal is financed with a 30-year loan of $474,750 from IberiaBank.

The residence was tied to a December 2016 mortgage of $348,000 held by Simmons Bank.

The Teagues acquired the property for $495,000 in July 2011 from Jenny Smith.