Indian Hills Apartments Host $15M Sale (Real Deals)


Indian Hills Apartments Host $15M Sale (Real Deals)
(Parcel lines approximate and shown for illustration only.) (Mapbox)

A 175-unit apartment complex in North Little Rock weighed in at $15 million.

Indian Hills North Little Rock, an affiliate of RREAF Holdings of Dallas, bought its namesake project at 2011 Aztec Drive.

The seller is Indian Hills Apartments LLC, an affiliate of Little Rock’s BSR Real Estate Investment Trust. The deal is financed with a 10-year loan of $11.5 million from Berkadia Commercial Mortgage LLC of Ambler, Pennsylvania.

The 10.99-acre development was purchased for $4.2 million in June 1997 from Love Apartment Communities of St. Louis.

Diamond Development

A 6.01-acre convenience store development on the outskirts of Maumelle tipped the scales at $3.22 million.

Diamond State Oil LLC, an affiliate of North Little Rock’s Coulson Oil Co., acquired the Valero convenience store project at 18823 MacArthur Drive. The seller is Morgan I-40 Properties LLC, led by Rick Ashley and J.D. Ashley Jr.

The deal is backed with a nine-month loan of $2.7 million from Simmons Bank of Pine Bluff. The property was assembled as part of two transactions with the estate of Donald Mueller, $65,000 in July 1989; and the estate of Mary Hall, $100,000 in August 1989.

Watershed Acquisition

A 76.57-acre tract in west Pulaski County is under new ownership after a $2.25 million transaction.

Little Rock’s Central Arkansas Water, the state’s largest water utility, purchased the land along the Little Maumelle River on the west side of Ferndale Cutoff Road at Dixie Road. The sellers are Bryan Hosto and Ferndale Cutoff LLC, led by Hank and Stephanie Kelley.

The property was acquired for nearly $1.4 million in January 2005 from Richard and Martha Douglas.

University Place Buy

A 17,654-SF commercial project in midtown Little Rock rang up a $980,000 sale.

Momi Holdings LLC, led by Avtar and Supreet Momi, bought University Place at 1400 S. University Ave.

The seller is The Wilson Co., led by Janet Dillon.

The deal is funded with a five-year loan of $633,750 from Citizens Bank of Batesville.

The 1.46-acre development was purchased for $828,000 in February 2002. The seller was WBS Partnership, led by John Grillo.

Charles Place Sale

An eight-unit apartment building in downtown Little Rock changed hands in a $730,000 deal.

Harry and Mildred Loucks acquired the Charles Place project at 117-121 Daisy L. Gatson Bates Drive from Broadway Park LLC, led by Brett Pitts.

The deal is financed with a 20-year loan of $584,000 from Citizens Bank.

Broadway Park bought the 0.18-acre development for $640,000 in July 2015 from Angela and John Dougan.

Commercial Land

A 0.14-acre commercial site in Maumelle drew a $375,000 transaction.

Town Creek LLC, led by Rick Ferguson, purchased the land near the southeast corner of Diamond Park Lane and Country Club Parkway. The seller is MC&T Holdings LLC, led by Lee Maris.

The property was acquired in February 2018 for $260,000 from Country Club Development LLC, led by John Wright.

Sologne Circle I

A 5,502-SF home in west Little Rock’s Sologne Circle neighborhood sold for $980,000.

David and Kelli McEntire bought the house from the Harris Family Revocable Trust, led by John and Carol Harris. The deal is backed with a 30-year loan of $989,800 from Arvest Bank of Fayetteville.

The location was purchased in February 2004 for $150,000 from Deltic Timber Corp. of El Dorado.

Sologne Circle II

A 5,626-SF home in west Little Rock’s Sologne Circle neighborhood is under new ownership after a $910,000 deal.

Alex Dapron acquired the house from the estate of Garry Glasco. The deal is funded with a 30-year loan of $728,000 from SIRVA Mortgage Inc. of Independence, Ohio.

Glasco bought the residence in February 2011 for $930,000 from Michael and Radka Winwood.

Overlook Park

A 5,528-SF home in Little Rock’s Overlook Park neighborhood rang up a $730,000 sale.

Mizan Rahman and Elizabeth Barnett purchased the house from Iden Cowan.

The residence was acquired in October 2016 for $700,000 from Anthony and Janet Dillon.

Shadowlawn House

A 3,243-SF home in Little Rock’s Shadowlawn neighborhood changed hands in a $695,000 deal.

Sandra Phillips bought the house from Griffin and Meredith Friday. The deal is financed with a 30-year loan of $500,000 from First Security Bank of Searcy.

The Fridays purchased the residence for $530,000 in March 2011 from Eric and Lou Ann Herget.

Orle Abode

A 4,504-SF home in west Little Rock’s Orle neighborhood drew a $659,500 transaction. Richard Tripodi and Jane McKinney acquired the house from Abhijit and Sudeepa Bhattacharyya.

The deal is backed with a 30-year loan of $593,550 from Raymond James Bank of St. Petersburg, Florida. The location was bought for $132,000 in October 2009 from Deltic Timber.

Falstone Court I

A 3,445-SF home in west Little Rock’s Falstone Court neighborhood sold for $649,500.

Brandon and Kristen Ingram purchased the house from Stevens Commercial Contractors Inc., led by Jackie Stevens.

The deal is funded with a 30-year loan of $649,500 from Regions Bank of Birmingham, Alabama.

The location was acquired in September 2019 for $107,000 from PotlatchDeltic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington.

Ensbury Place

A 3,948-SF home in west Little Rock’s Ensbury Place neighborhood is under new ownership after a $635,000 deal.

Lance and Abby Berry bought the house from Hess Custom Construction LLC, led by John Hess. The deal is financed with a 30-year loan of $304,800 from Eagle Bank & Trust of Little Rock.

The site was purchased for $94,000 in December 2017 from Deltic Timber.

Falstone Court II

A 3,600-SF home in west Little Rock’s Falstone Court neighborhood sold for $597,000.

John and Mary Lively acquired the house from Dumont Construction LLC, led by Larry Evans and Brian Dumont. The deal is backed with a 30-year loan of $477,600 from First Service Bank of Greenbrier.

Dumont Construction bought the location for $107,000 in September 2019 from PotlatchDeltic Real Estate.

Saint John’s Wood

A 3,126-SF home in the Saint John’s Wood neighborhood of Little Rock changed hands in a $527,500 deal.

David and Samantha Curran purchased the house from Arthur and Angela Chandler. The deal is funded with a 15-year loan of $263,750 from First Financial Bank of El Dorado.

The Chandlers acquired the residence for $520,000 in February 2014 from Michael and Marilyn Ledbetter.

Pleasant Forest

A 3,025-SF home in west Little Rock’s Pleasant Forest neighborhood drew a $502,000 transaction.

The Paul & Kelly Calhoun Living Trust bought the house from Jeffrey and Debra Stieve. The deal is financed with a 30-year loan of $401,600 from Riverside Mortgage Co. of Little Rock.

The Stieve family purchased the residence for $399,000 in March 2017 from the Stephen O. Stephens Trust.