Fountaine Bleau West Sells for $45.4M (Real Deals)


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A 245-unit apartment project in west Little Rock weighed in at $45.4 million.

LREF Holding Co. LLC, an affiliate of Forge Partners of Rancho Santa Fe, California, bought the Fountaine Bleau West project at 4200 S. Bowman Road.

The seller is Burkhalter F.B.W. LLC, led by John Burkhalter.

The deal is funded with a 10-year loan of $29.5 million from Walker & Dunlop LLC of Bethesda, Maryland.

The 15.26-acre site was assembled in two July 2015 deals with Richard Sparrow, Andrew Noles, John Caison, Erik Harvey, Katelyn Harvey, Della Moss and John Sparrow, $725,744; and Rolling Hills Properties LLC, led by Kyung Kim and Harry Kim, $55,000.

Colony West

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A 90,269-SF retail center in west Little Rock tipped the scales at $8.54 million.

MO Little Rock LLC, an affiliate of Midland Atlantic Properties in Cincinnati, acquired the Colony West Shopping Center at 10300 N. Rodney Parham Road.

The sellers are Colony West Group LLC, led by T.J. Lefler, Marshall Saviers and Brian Shaw; and C-LEF Partners LLC, led by Lefler. The deal is backed with a 10year loan of $5.9 million from Genworth Life Insurance Co. of Richmond, Virginia.

The 7.96-acre development was bought for $7.1 million in August 2016 from Doyle Rogers Family Ltd., led by Doyle Rogers Jr.

Med Space

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Medical office space in west Little Rock changed hands in a $1.9 million deal. McFar-Land LLC, led by Byron Wilkes, purchased 7,837 SF on the third floor of the Baptist Health Eye & Surgery Center at 9800 Baptist Health Drive.

The seller is Eye Care Equipment LLC, led by Robert Berry.

The deal is financed with a 10-year loan of $1.6 million from Simmons Bank of Pine Bluff.

Eye Care Equipment assembled the property in two deals with Baptist Health: $931,000 in December 1995 and $197,030 in June 2014.

Industrial Transaction

A 43,904-SF industrial complex in Little Rock rang up a $900,000 sale.

BCR Investments LLC, led by Benjamin Davis II, Cindi Mathis and Ronald Davis, bought the 1300 Bond St. facility.

The seller is USP Land Holdings FP&P LLC, an affiliate of Forterra Pipe & Precast in Irving, Texas. The deal is funded with a five-year loan of $760,000 from Encore Bank of Little Rock.

The 11.79-acre development was purchased for $1.7 million in June 2018 from Pipe Portfolio Owner (Multi) Ltd. of New York.

Office-Warehouse Buy

A 23,872-SF office-warehouse in Little Rock is under new ownership after a $600,000 transaction.

Airmasters Inc., led by Angela Lovett, acquired the 8107 Interstate 30 project from General Mechanical Contractors Inc., led by Bryce Swindler.

The 2.02-acre site was bought for an undisclosed price in December 1967 from National Investors Life Insurance Co., led by Jess Odom.

Lone Acquisition

A 1,500-SF convenience store in southwest Little Rock sold as part of a $425,000 deal.

United Lone Enterprises LLC, led by Mohammad Lone, purchased the 0.45-acre Citgo development at 5924 Baseline Road and a half-acre site at 4413 Baseline Road from Star City’s Connect Bank.

The bank recovered the properties from Lone’s RT 92 Inc., led by Mohammad and Shahlla Lone, in September 2020 at a $425,000 foreclosure sale.

Downtown Purchase

A 3,124-SF office building in downtown Little Rock drew a $240,000 transaction.

A&A Investments Inc., led by Farha Shamsi and Amir Qureshi, bought the 1817 Broadway project.

The seller is Haybar Properties LLC, led by Bryan Hosto.

Haybar purchased the 0.37-acre development for $151,000 at a March 2017 foreclosure sale.

Country Club Heights

A 3,577-SF home in Little Rock’s Country Club Heights neighborhood weighed in at $1.4 million.

David and Mary Ritchey acquired the house from Kenneth and Stephanie Gunderman.

The deal is backed with a six-month loan of $1.4 million from McGehee Bank.

The Gundermans bought the residence for $1 million in May 2007 from Russ McDonough III.

Fontenay Circle

A 4,851-SF house in west Little Rock’s Fontenay Circle neighborhood changed hands in a $959,000 deal.

Calvin and Pamela Kellogg purchased the house from the William C. Tipton & Christie M. Tipton Joint Revocable Trust.

The deal is financed with a 15-year loan of $359,000 from Guaranteed Rate Inc. of Chicago.

The residence was acquired for $657,000 in May 2002 from Cendant Mobility Financial Corp. of Danbury, Connecticut.

Falstone Court

A 4,479-SF home in west Little Rock’s Falstone Court neighborhood rang up a $754,307 sale.

Neil and Andrea Burnette bought the house from Stevens Commercial Contractors Inc., led by Jackie Stevens. The deal is funded with a 30-year loan of $510,000 from Bank of Little Rock Mortgage Corp.

The location was purchased for $121,000 in September 2019 from PotlatchDeltic Real Estate LLC, an affiliate of PotlatchDeltic of Spokane, Washington.

Belle River

A 4,242-SF home in Maumelle’s Belle River neighborhood is under new ownership after a $568,000 deal.

Dale and Julia Campbell acquired the house from the Rhode Blanchard Causey Jr. & Lynda Lou Causey Joint Revocable Trust. The deal is backed with a 30-year loan of $379,700 from Bank of Little Rock Mortgage.

The residence was bought in March 2007 for $570,000 from Sam Atkinson III and Marcia Atkinson.

Plantation Acres

A 4,045-SF home in the Plantation Acres neighborhood of west Pulaski County sold for $500,000.

Brian and Megan Greenwood purchased the house from Chris Dunn and Elizabeth Cantu. The deal is financed with a 30-year loan of $385,000 from Eagle Bank & Trust of Little Rock.

The property was acquired for $141,000 in February 2018 from Federal Home Loan Mortgage Corp.