Overbrook Apartments Registers $40M Sale (Real Deals)


Overbrook Apartments Registers $40M Sale (Real Deals)
Parcel lines approximate and shown for illustration only. (Mapbox)

A 440-unit apartment complex in North Little Rock weighed in at $40 million.

Overbrook North Little Rock LLC, an affiliate of RREAF Holdings of Dallas, bought Overbrook Apartments at 5901 JFK Blvd.

The sellers are Bailey’s Overbrook Apartments LLC and Overbrook V LLC, affiliates of Little Rock’s BSR Real Estate Investment Trust. The deal is backed with a 10-year loan of $30 million from Berkadia Commercial Mortgage LLC of Ambler, Pennsylvania.

The 30.5-acre development was purchased for $12.3 million in August 1997 from the Justin Matthews Co., Overbrook V Apartments, Overbrook D Apartments, Overbrook B Apartments and Overbrook C Apartments, all led by Somers Matthews and Hal Matthews.

Warehouse Purchase

A 41,492-SF warehouse in North Little Rock sold for $557,000.

Cache River Properties LLC, led by Bryan Jeffrey, acquired the 3401 E. Broadway project from Affordable Residential Roofing Inc., led by Manuel Del Toro.

The deal is financed with a five-year loan of $954,772 from Simmons Bank of Pine Bluff.

The 9.72-acre development was bought for $550,000 in January 2013 from Rock City Furniture Inc., led by Virginia Vellance.

Sharks Sale

A 3,560-SF restaurant in Jacksonville drew a $355,000 transaction.

Sonny Ros purchased the Sharks Fish & Chicken project at 1801 T.P. White Drive from Realty Income Corp. of San Diego.

The deal is funded with a five-year loan of $284,000 from Arvest Bank of Fayetteville.

Realty Income acquired the 0.63-acre former Pizza Hut development for $757,000 in September 2006 from NPC International Inc. of Pittsburg, Kansas.

Multifamily Buy

A four-unit apartment building in downtown Little Rock rang up a $300,000 sale. Harry and Mildred Loucks bought the 1415-17 Cumberland St. project from Josh and Jennifer Malone.

The deal is backed with a 13-month loan of $240,000 from Citizens Bank of Batesville.

The Malones purchased the 0.32-acre development for $175,000 in November 2015 from Terra Nova Properties LLC, led by Barbara Berkley.

Parking Land

A parking lot in downtown Little Rock is under new ownership after a $142,500 deal.

Williams Group LLC, led by Nicole Williams, acquired the property near the southeast corner of Capitol Avenue and Izard Street from the Sara C. Meeks Revocable Trust and the estate of Donald L. Warmack.

The 0.26-acre parking lot is helping secure a five-year loan of $388,300 from Arkansas Federal Credit Union of Jacksonville.

The property was bought from Mable Barnett in February 1959 for an undisclosed sum.

Overlook Park

A 6,385-SF home in Little Rock’s Overlook Park neighborhood tipped the scales at $1.3 million.

Richard and Ellen Sandor purchased the house from Duane and Angela Birkey.

The Birkeys acquired the residence for $1.3 million in December 2016 from the Lee Bodenhamer Trust.

Robinwood House

A 3,083-SF home in Little Rock’s Robinwood neighborhood changed hands in a $652,000 transaction.

Gina and Ryan Thursby bought the house from ECS Homes LLC, led by Carey Smith.

The deal is financed with a 30-year loan of $418,600 from Mortgage Financial Services LLC of Baton Rouge.

ECS Homes purchased the property for $250,000 at a December 2019 foreclosure sale. The previous owner was Glenn Kubeczka.

Mirabel Court I

A 4,000-SF home in west Little Rock’s Mirabel Court neighborhood sold for $634,000.

Sam and Cheryl Freeze acquired the house from Reddy Innovative Builders LLC, led by Mohan Reddy. The deal is funded with a 30-year loan of $450,000 from Bank of Little Rock Mortgage Corp.

The location was bought for $75,000 in December 2015 from Deltic Timber Corp. of El Dorado.

Mirabel Court II

A 4,234-SF home in west Little Rock’s Mirabel Court neighborhood drew a $625,000 transaction.

Marina and Eugene Becker purchased the house from the Matthew & Morgan Wilkins Living Trust. The deal is backed with a 30-year loan of $500,000 from Bank of Little Rock Mortgage.

The residence was acquired for $598,000 in March 2017 from HA Custom Homes LLC, led by Subrahmanyam Narravula.

Falstone Court

A 3,722-SF home in west Little Rock’s Falstone Court neighborhood rang up a $610,000 sale.

Michael and Emily Allen bought the house from Randy Wright Builders LLC. The deal is financed with a 26-year loan of $610,000 from Regions Bank of Birmingham, Alabama.

The location was purchased for $105,000 in July 2019 from PotlatchDel-tic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington.

PV Residence

A 4,301-SF home in west Little Rock’s Pleasant Valley neighborhood is under new ownership after a $550,000 deal.

Jeffrey and Amber Grimes acquired the house from Norman and Mary Polk. The deal is funded with a 30-year loan of $550,000 from Gateway Mortgage Corp. of Jenks, Oklahoma.

The Polks bought the residence for $283,000 in July 1999 from Kerry D’Amato and Cherrie Torbic.

Pulaski Heights

A 2,811-SF home in Little Rock’s Pulaski Heights neighborhood changed hands in a $545,000 deal.

Tara Tinnin purchased the house from Mason Homes LLC, led by James Mason.

Mason Homes acquired the property for $175,000 in April 2019 from Sandra Grayson.