Village at the Gateway Attracts $22.6M Purchase (Real Deals)


Village at the Gateway Attracts $22.6M Purchase (Real Deals)
(Google Earth / Mapbox)

The acquisition of more than 200 apartments in Alexander weighed in at $22.65 million.

LR Sanford 2 LLC, LR Avenues 2 LLC, LR Dunwoody 2 LLC, LR Audobon 2 LLC and Little Rock 2 JR2 LLC, affiliates of Advanced Precision Group of Jackson, New Jersey, purchased a mixture of triplexes, duplexes and a single unit in the Village at the Gateway at 10 Gateway Village Blvd.

The seller is Big Rock Development LLC, led by Bob Francis and Russell Huckaby.

The deal is financed with a one-year loan of $18.3 million from First Community Bank of Batesville.

Big Rock bought the site as part of a 59.6-acre deal for $1.3 million in October 2016 from the Little Rock Municipal Property Owners’ Multipurpose Improvement District No. 2006-300.

Circle K Purchase

A convenience store in west Little Rock tipped the scales at $4.42 million.

FRG Little Rock LLC, an affiliate of Fulton Realty Group of New York, acquired the Circle K at 10200 N. Rodney Parham Road from Rodney Parham CK LLC, led by Chris Moses.

The deal is backed with a five-year loan of $3.3 million from Relyance Bank of Pine Bluff.

The 0.65-acre development was purchased for nearly $3.8 million in June 2020 from 10200 Rodney Parham LLC, led by Edward Bailey.

Bank Buy

A 3.69-acre site for a bank branch in west Little Rock changed hands in a $3.58 million deal.

BancorpSouth Bank of Tupelo, Mississippi, bought the northeast corner of Chenal Parkway and Rahling Road from PotlatchDeltic Real Estate LLC.

The land was acquired as part of the $1.2 billion merger of Potlatch Corp. of Spokane and El Dorado’s Deltic Timber Corp. in December 2018.

Office-Warehouse Sale I

A 42,128-SF office-warehouse in North Little Rock rang up a $2.17 million foreclosure sale.

Eagle Bank & Trust of Little Rock recovered the S&G Distributors project at 16 Maumelle Curve Court from the William Clark Fitts Jr. & Sharon Inge Fitts Joint Revocable Trust.

The 2.12-acre development previously secured March 2017 mortgages of $1.6 million and $800,000 held by the bank.

The location was bought for $113,000 in May 1999 from Kent Vestal Sr. and his wife, Frances.

Familia Acquisition

A former bank headquarters in Sherwood drew a $450,000 transaction.

Familia Lopez Investments LLC, led by Abraham Lopez Moreno and Luis Miguel Lopez, purchased the 4,773-SF project at 7725 Warden Road from Eagle Bank & Trust.

The deal is funded with a five-year loan of $360,000 from First Service Bank of Greenbrier.

The 1.05-acre site was acquired for $100,000 in September 1976 from Central Investors Life Insurance Co. of North Little Rock.

Office-Warehouse Sale II

A 4,000-SF office-warehouse in North Little Rock sold for $300,000.

Art Investment LLC, led by Troy and Angela Rhodes and Rustyn Ray, bought the Stone Works project at 9625 Rowlett Lane from KH-CH Investments LLC, led by Charles and Cynthia Harper and Nikki Harper.

The deal is financed with an eight-year small-business loan of $340,014 from Bank of Little Rock. The 1.02-acre site was purchased for $20,000 in April 1991 from John and Marilyn Wright.

Corner Site

A 1-acre parcel in west Little Rock is under new ownership after a $126,500 deal.

Haybar Properties LLC, led by Bryan Hosto, acquired the land at the northeast corner of Shackleford and Col. Glenn roads from First Security Bank of Searcy.

The bank recovered the property from Dave and Mary Pierce in April 2012 as part of a $10,000 foreclosure sale.

Robinwood Valley

A 5,032-SF home in Little Rock’s Robinwood Valley neighborhood weighed in at $1.1 million.

Kevin and Sherrill Garland purchased the house from Raymond Peeples III and his wife, Amy.

The residence was acquired in May 2018 from Steven and Janet Kinzler for $716,000.

Falstone Court

A 3,960-SF home in west Little Rock’s Falstone Court neighborhood changed hands in a $655,000 deal.

Christian and Tracey Simmons bought the house from Mark Baker Custom Homes Inc.

The deal is backed with a 30-year loan of $510,000 from Regions Bank of Birmingham, Alabama.

The site was purchased for $107,000 in September 2019 from PotlatchDeltic Real Estate LLC.

Rural Residence

A 4,989-SF home in far west Pulaski County rang up a $620,000 sale.

Phillip and Sue Fields acquired the house from Charles and Renei Harwood.

The deal is funded with a 15-year loan of $170,000 from First Security Bank.

The 11.9-acre property was bought for $159,000 in April 2007 from Thomas and Vicki Stewart.

Forest Heights

A 2,138-SF home in Little Rock’s Forest Heights neighborhood drew a $567,000 transaction.

Jared and Erin Coleman purchased the house from Joshua Lesko and Sarah Dayer.

The deal is financed with a 30-year loan of $510,000 from Encore Bank of Little Rock.

The residence was acquired in May 2017 for $500,000 from Louis and Ida Etoch.

Leawood Place

A 3,453-SF home in Little Rock’s Leawood Place neighborhood sold for $549,900.

Raleigh and Kayla Mohr bought the house from the Ray & Pam Wilson Revocable Trust.

The deal is backed with a 30-year loan of $552,800 from Arvest Bank of Fayetteville.

The Wilsons purchased the 5.16-acre site in August 1999 as part of a $95,000 deal with M.R. and Christine Godwin.