New Name Trails $7M Sale Of LR's Oaks Apartments (Real Deals)

New Name Trails $7M Sale Of LR's Oaks Apartments (Real Deals)
Summit at Town and Country at 7700 Chicot Road in Little Rock (Jason Burt)

A 112-unit apartment complex in southwest Little Rock weighed in at $7.26 million.

Apex Towne Country LLC of Lakewood, New Jersey, purchased the renamed Summit at Town & Country project at 7700 Chicot Road from The Oaks Apartments Ltd., an affiliate of the Zieben Group in Houston, Texas.

The deal is financed with a 10-year loan of $5.9 million from Berkadia Commercial Mortgage LLC of Ambler, Pennsylvania.

The 7.46-acre development was acquired for $3.8 million in January 2004 from Old Oaks Ltd., led by Lyndell Lay.

Office Acquisition

A 17,934-SF office building in downtown North Little Rock tipped the scales at $1.7 million.

1920 N. Main Street NLR LLC, led by Jeffrey Smith, bought its namesake address from American Home Life Insurance Co., led by Ann Powell-Black.

The deal is backed with a seven-year loan of $1.4 million from Partners Bank of Helena-West Helena.

The 1.22-acre development was purchased for $561,000 in October 1996 from North Little Rock Funeral Home Inc., led by John S. Smith.

Dual Purchase

Two mobile home parks in southwest Little Rock rang up a $1.07 million sale.

MHCI Fund I LLC, an affiliate of MHCI Group in New Smyrna Beach, Florida, acquired the 4.2-acre development at 8305-07 Stanton Road and the 3.15-acre development at 8501 Community Road from Joseph Curreri and his We Buy Arkansas LLC.

Curreri carried $535,000 of the purchase price.

The Stanton Road property was bought for $170,000 in September 2005 from Richard Glenn Jones. The Community Road property was bought for $155,000 in March 2006 from Rachel Gibbins.

Convenient Sale

A 2,745-SF convenience store in Little Rock drew a $665,000 transaction.

Zakir Inc., led by Md Zakir Hossain, purchased the Super Galleria project at 5103 Asher Ave. The seller is Chae Enterprises Inc., led by Steven Chae.

The deal is funded with a 15-year loan of $532,000 from Relyance Bank of Pine Bluff.

The 1.12-acre development was acquired for $100,000 in August 2005 from First National Bank of Fort Smith.

Commercial Land

A 2.51-acre commercial site in west Little Rock sold for $490,000.

Arkansas Regional Organ Recovery Agency Inc., led by Alan Cochran, bought the land on the west side of Wilson Road off Kanis Road. The seller is Wilson Road Properties LLC, led by Debra Morrison.

The property was purchased for $230,000 in January 2003 from Baptist Health.

Gallery Investment

A 2,276-SF art gallery in the Heights area of Little Rock changed hands in a $347,500 deal.

5701 Kavanaugh LLC, led by Barnett Briggs Jr. and Brock Martin, acquired the L&L Beck Art Gallery at 5705 Kavanaugh Blvd. from The Nicholas Co. LLC, led by Louis Beck.

The Beck family bought the 0.08-acre property for an undisclosed sum as part of a June 1946 deal with Gregory Elsken.

Office-Warehouse Buy

A 6,000-SF office-warehouse in Jacksonville is under new ownership after a $305,000 deal.

RBW Enterprises LLC, led by Richard Wright, purchased the 221 S. Redmond Road project. The seller is Roberts & Roberts Properties LLC, led by Michael Roberts.

The deal is financed with a 10-year loan of $244,000 from Regions Bank of Birmingham, Alabama.

The 1.37-acre development was acquired for $90,000 in March 2012 from Shelby and Gloria White.

Sweet Home Land

A 10-acre parcel in the Sweet Home community rang up a $100,000 sale.

AMA Properties LLC, led by Sadiq Ali, bought the land near the southeast corner of Interstate 530 and Dixon Road from Entropy Systems Inc., led by Imran Bohra. Entropy purchased the property for $70,000 in August 2000 from Paul Dixon Jr. and his wife, Grace, and Charles and Alice D. Staggs.

Forest Heights

A 3,848-SF house in Little Rock’s Forest Heights neighborhood weighed in at $1.15 million.

James and Jill Gibson acquired the house from Russell and Sarah Brantley. The deal is backed with a 30-year loan of $455,000 from Encore Bank of Little Rock.

The Brantleys bought the property for $347,000 in November 2008 from the Betty B. Campbell Revocable Trust, Jane Wickard Rogers and Ann Wickard Willis.

Deauville Place

A 5,565-SF home in west Little Rock’s Deauville Place neighborhood drew an $895,000 transaction.

Max Wheeler and Kathy Dawson purchased the house from Sean and Laura Whiteley. The Whiteleys acquired the location for $170,000 in April 2013 from Sandbern Quality Homes Inc., led by Bernard Hochstetter.

Mountain Park

A 3,220-SF home in Little Rock’s Mountain Park neighborhood sold for $795,000.

Adrianee and Joshua Parkey and George Dorsey Jr. bought the house from East-Collins Construction LLC, led by Hunter East and Chuck Collins.

The deal is funded with a 30-year loan of $500,000 from IberiaBank of Lafayette, Louisiana.

The property was purchased in October 2017 as part of a $1.7 million deal with Little Rock Enterprises I-IX LLCs, led by the namesake revocable trust of Edward and Mildred Gruber.

River Heights

A 3,558-SF home in Little Rock’s River Heights neighborhood changed hands in a $699,000 deal.

Everett Martin Jr. and his wife, Melinda, acquired the house from Kathryn Tucker and Shawn Mayhan. The residence was bought for $670,000 in May 2017 from the Alice F. Lightle Revocable Trust.

Falstone Court

A 3,300-SF home in west Little Rock’s Falstone Court neighborhood is under new ownership after a $580,000 transaction.

James Adams Jr. and his wife, Kimberly, purchased the house from Karen James Custom Built Homes Inc.

The deal is financed with a 30-year loan of $464,000 from Stifel Bank & Trust of St. Louis.

The location was acquired for $107,000 11 months ago from PotlatchDeltic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington.

Germay Court

A 4,293-SF home in west Little Rock’s Germay Court neighborhood rang up a $545,000 sale.

Lyndon and Paige Miller bought the house from Rex and Jane Bell. The deal is backed with a 30-year loan of $436,000 from Arvest Bank of Fayetteville.

The Bells purchased the residence for $660,000 in April 2013 from Don and Kimberly Fowler.

Ison Creek

A 3,438-SF home in west Little Rock’s Village at Ison Creek neighborhood drew a $513,000 transaction.

Dustin and Barbara Raney acquired the house from Dustin Hennard Homes Inc. The deal is funded with a 30-year loan of $419,500 from First American Mortgage Solutions of Idaho Falls, Idaho.

The location was bought for $75,000 in April 2018 from Ison Creek Development LLC, led by Keith Wingfield.

Estates Sale

A 3,651-SF home in the Maumelle Valley Estates neighborhood sold for $510,000.

Chasity Starks purchased the house from Moman Bates III and his wife, Sherlyn. The deal is financed with a five-year loan of $320,000 from Southern Bancorp Bank of Arkadelphia.

The location was acquired for $69,900 in October 2014 from Maumelle Valley LLC, led by Gilbert Carpenter.