Condo Package Draws $9.7M Transaction (Real Deals)


Condo Package Draws $9.7M Transaction (Real Deals)
Chenal Woods in west Little Rock. (Jason Burt)

Forty-five condos in the Chenal Woods project in west Little Rock tipped the scales at $9.72 million.

Chenal Woods Owner LLC, an affiliate of Chicago’s Adams LaSalle real estate investment firm, purchased the property at 412 Chenal Woods Drive. The seller is Catalyst Chenal LLC, an affiliate of RPD Catalyst of Los Angeles.

The deal is financed with a 10-year loan of $6.3 million from Citi Real Estate Funding Inc. of New York.

Catalyst Chenal acquired 46 units for $7 million in November 2015 from Sixth Hole Condos at Chenal LLC, led by Henry Jordan Jr.

Eminent Domain

A 19.18-acre tract in west Little Rock weighed in at $1.4 million.

The Arkansas Highway Commission bought the land along the north side of Highway 10 across from Pleasant Ridge Apartments from The Group LLC, led by Jim English.

The Group purchased the land for $518,000 in January 2005 from Winrock Development Co., led by Russ McDonough.

Office Transaction

An 8,696-SF office building in west Little Rock drew a $1.16 million transaction. Freeway Park Properties LLC, led by Kevin Claybrook, acquired the 6315 Ranch Drive project.

The seller is Rainwater Holt & Sexton Properties LLC, led by Robert Sexton.

The deal is backed with a 20-year loan of $1 million from First Horizon Bank of Memphis.

The 0.63-acre site was bought for $111,000 in August 1998 from Ranch Properties Inc., led by Ed Willis and Bob Shults.

Coolwood Condos

Ten units in the Coolwood Condominium project in Little Rock sold for $830,000. Coolwood LLC of Denver purchased the property from its namesake address owner: 1 Coolwood Drive LLC of Cortlandt Manor, New York.

The deal is funded with a one-year loan of $622,500 from Conventus LLC of San Francisco.

The 16-unit, 0.8-acre development was acquired for $1 million in February 2016 from Coolwood Properties LLC, led by Chris Ligon.

Multifamily Buy

A 10-unit apartment project in Little Rock is under new ownership after a $775,000 deal.

Arkazona Holdings LLC, led by Sean Vollendorf and Nicholas Wood, bought the 2201 Scott St. property from Stonekey Properties LLC, led by Laura Cabrera.

The deal is financed with a five-year loan of $658,750 from Partners Bank of Helena-West Helena.

Stonekey purchased the 0.34-acre development for $312,500 in May 2016 from Sebastian and Darlene Graham.

Convenient Sale I

A 1,740-SF convenience store in downtown Little Rock rang up a $675,000 sale.

Super Arkansas LLC of Shreveport acquired the Roosevelt Exxon at 612 E. Roosevelt Road from HBIC LLC of Pasadena, California.

HBIC bought the 0.56-acre development for $680,000 in April 2019 from US Assets Inc. of Dallas.

Convenient Sale II

A 4,553-SF convenience store in Little Rock changed hands in a $320,000 transaction.

Muhammed Sadiq purchased the Roosevelt Super Store at 1423 W. Roosevelt Road from Union Investment LLC, led by Wael Karakra.

The 0.48-acre property was acquired for $190,000 in February 2011 from Charlie and Ermaline Coleman.

Hickory Creek

A 6,527-SF home in west Little Rock’s Hickory Creek neighborhood tipped the scales at $1.18 million.

The Mehrabi Joint Revocable Trust, led by Amir and Lisa Mehrabi, bought the house.

The seller is the Karrh Family Revocable Trust, led by James and Alison Karrh.

The deal is backed with a 15-year loan of $548,250 and a $518,131 mortgage from Encore Bank of Little Rock.

The Karrhs purchased the residence for $725,000 in April 2013 from Michael and Harriett Fuller.

Lakewood Park

A 8,815-SF home in North Little Rock’s Lakewood Park neighborhood drew a $955,000 transaction.

Danniele Holanda and Nuno de Almeida acquired the house from the Jay Daniel Geoghagan & Heather Elizabeth Geoghagan Living Trust.

The deal is funded with a 26-year loan of $907,250 from Regions Bank of Birmingham, Alabama.

The location on Lake No. 1 was bought for $275,000 in May 2007 from Raymond Lackie Jr. and his wife, Vickie.

PV Residence

A 4,568-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $795,000.

Chad and Karen Greenway purchased the house from the Johnson Revocable Trust, led by Glen and Kirstin Johnson.

The deal is financed with a one-year loan of $795,000 from Relyance Bank of Pine Bluff.

The Johnsons acquired the residence for $615,000 in February 2014 from Jessica and Paul Vitale.

Hillcrest House I

A 3,688-SF home in Little Rock’s Hillcrest neighborhood is under new ownership after a $725,000 deal.

Jamie Wiggins and Jack Dinetz bought the house from Thomas Sneed and William Lendermon. The deal is backed with a 30-year loan of $652,500 from Regions Bank.

The residence was purchased for $548,000 in April 2007 from Shane and Loryann Scott.

Falstone Court

A 4,022-SF home in west Little Rock’s Falstone Court neighborhood rang up a $704,000 sale.

Lesley Short and Fawna Nelson acquired the house from Hartness Construction Co., led by Brenda Hartness.

The deal is funded with a 30-year loan of $300,000 from Regions Bank.

The site was bought for $121,000 in September 2019 from PotlatchDeltic Real Estate LLC.

Pulaski Heights

A 3,497-SF home in Little Rock’s Pulaski Heights neighborhood changed hands in a $699,000 deal.

Jillian Wilson and Samuel Jackson purchased the house from Eric Bravo. The deal is financed with a 30-year loan of $342,000 from Encore Bank.

The residence was acquired for $565,000 in August 2006 from Michael and Elizabeth Schneider.

Chimney Rock

A 7,801-SF home in North Little Rock’s Chimney Rock neighborhood drew a $680,000 transaction.

Andrew and Lisa Ballard bought the house from James Smith. The deal is backed with a 30-year loan of $544,000 from Malvern National Bank.

Smith purchased the residence for $767,000 in August 2007 from Douglas and Kathleen Beaver.

Hickory Grove

A 3,539-SF home in west Little Rock’s Hickory Grove neighborhood sold for $649,000.

Phyllis and Charles Johnson acquired the house from TLM Trust, led by Theresa Middleton. The deal is funded with a 30-year loan of $512,000 from Simmons Bank of Pine Bluff.

The residence was bought for $540,000 in October 2015 from Markus Homes Inc., led by Melinda Markus.

Hillcrest House II

A 2,974-SF home in the Hillcrest area of Little Rock is under new ownership after a $620,000 transaction.

Colin and Taylor Rockefeller purchased the house from Murry Newbern.

Newbern acquired the residence for $500,000 in June 2004 from James Penick III and his wife, Ann.