Valley Ranch Project Sold for $15M (Real Deals)


Valley Ranch Project Sold for $15M (Real Deals)
Valley Ranch Nursing and Rehabilitation Center at 6411 Valley Ranch Drive in Little Rock.

A 110-bed nursing home in west Little Rock weighed in at $15.05 million.

Valley Realty Holdings LLC, an affiliate of Wellspring Healthcare of Lakewood, New Jersey, purchased The Village at Valley Ranch at 6411 Valley Ranch Drive.

The seller is OM ACQ LLC, an affiliate of Conway’s Reliance Health Care Inc.

The deal is backed with a three-year loan of $14.4 million from Monticello Funding LLC of New York. OM ACQ bought the 4.62-acre development for $10.5 million in July 2020 from Wagnon Place Inc., led by Joey Wiggins.

West Tree Transaction

The 13,624-SF West Tree Service complex in south Little Rock changed hands in a $2.55 million sale-leaseback transaction.

6300 Forbing Road Ltd., led by Ford Overton, sold its namesake address to FIP Master Funding I LLC, an affiliate of Fundamental Income Properties of Phoenix. The 8.82-acre development is helping secure a $400 million funding agreement administered by Citibank of New York.

The property was purchased for $688,000 in March 2006 from WTS Building Partnership, led by William Jackson.

Convenient Transaction

A 2,440-SF convenience store in west Little Rock rang up a $900,000 sale. Barrow John Investment LLC, led by Sulaiman Hudda, Rahim Juma, Nazim Ali and Aziz Hudda, bought the Superstop at 1400 John Barrow Road.

The seller, Chang Ho Lee, provided a five-year mortgage of $700,000 to finance the deal. Lee acquired the 0.47-acre development for $550,000 in January 2017 from the Robert Gladden Estate.

Multifamily Buy

A quartet of apartment properties in downtown Little Rock drew a $625,000 transaction. ROMA Investments LLC, led by Stefano Santamaria, purchased 1209 W. Second St., 1405 Center St., 1522 Louisiana St. and 1601 Scott St.

The seller is J.E. King & Sons Inc., led by Dugan King. The deal is backed with a 20-year loan of $450,000 from BancorpSouth Bank of Tupelo, Mississippi.

The quartet of properties was assembled in deals with Kendall and Nora Hoggard, $14,000 in September 1974 for 1405 Center St.; Edward Held II and his wife, Shirley, $29,000 in September 1976 for 1522 Louisiana St.; Susie Williams, $25,000 in April 1989 for 1209 W. Second St.; and the U.S. Department of Housing & Urban Development, $34,000 in June 1993 for 1601 Scott St.

More Multifamily

A four-unit apartment building in west Little Rock sold for $272,900.

3B&L LLC of Salem, Oregon, acquired the 11005 Mara Lynn Road project from Sakred LLC, led by Steve and Kristy Dillman. The deal is funded with a 30-year loan of $230,400 from Magnolia Capital Partners of Kirkland, Washington.

Sakred purchased the 0.19-acre development for $235,000 in August 2019 from Corey Bryant and John Curreri.

Woodlands Edge

A 6,142-SF home in the Woodlands Edge neighborhood of west Little Rock tipped the scales at $1.17 million.

Terry and Mary Privratsky bought the house from Randy and Donna Wright. The deal is financed with a 30-year loan of $425,000 from Rocket Mortgage LLC of Detroit.

The site was acquired for $163,000 in June 2016 from Rocket Properties LLC, led by Ron Tyne and Lisenne Rockefeller.

Rattlesnake Ridge

A 4,454-SF home and 2,400-SF shop-residence near Rattlesnake Ridge in west Pulaski County weighed in at $1 million.

Jeremy and Rebecca Scaife purchased the property from Wilson and Barbara Hatfield. The deal is backed with a 30-year loan of $548,200 from Bank of England.

The Hatfields bought the 2-acre site for $250,000 in March 2017 from Dustin Hennard Homes Inc.

Falstone Court I

A 4,316-SF home in west Little Rock’s Falstone Court neighborhood is under new ownership after a $856,000 transaction.

Rajalakshmi Cheerla and Sujit Kota-pati acquired the house from HA Custom Homes LLC, led by Subrahmanyam Narravula.

The deal is funded with a 30-year loan of $813,200 from Arvest Bank of Fayetteville. The location was purchased for $107,000 in September 2019 from PotlatchDeltic Real Estate LLC.

Falstone Court II

A 4,344-SF home in the Falstone Court neighborhood changed hands in an $809,900 deal.

Anusha Sunkara and Vankata Kommineni bought the house from Liberty Construction LLC, led by Mark Shepard.

The deal is financed with a 30-year loan of $769,405 from BancorpSouth Bank. Liberty acquired the site for $107,000 in September 2019 from PotlatchDeltic Real Estate.

Walton Heights

A 5,680-SF home in west Little Rock’s Walton Heights neighborhood rang up a $685,000 sale. Tuhin and Misty Virmani purchased the house from the David Morris Revocable Trust.

The deal is backed with a 30-year loan of $685,000 from Regions Bank of Birmingham, Alabama.

The property was bought for $445,000 in January 2014 from April Key.

Westover Hills

A 3,241-SF home in Little Rock’s Westover Hills neighborhood drew a $675,000 transaction.

Joshua and Elizabeth Gillispie acquired the house from the Nokes Joint Revocable Trust, led by Steven and Carol Nokes.

The deal is funded with a 30-year loan of $540,000 from Bank of Little Rock Mortgage Corp.

The residence was purchased for $649,000 eight months ago from Hartness Construction Co., led by Brenda Hartness.

Shadowlawn Abode

A 1,960-SF home in Little Rock’s

Shadowlawn neighborhood sold for $639,000. Adam and Elise Shea bought the house from Marice Palecek.

The deal is financed with a 30-year loan of $149,000 from Bank of Little Rock Mortgage.

The residence was acquired for $440,000 in August 2002 from Jeanne Crews.