A pair of Little Rock apartment projects sold in tandem transactions totaling more than $10.5 million.
TMF Cantrell LLC and TMF Normandy Holdings LLC, affiliates of Think Multi-family in Frisco, Texas, bought Tanglewood Apartments, a 91-unit complex at 7575 Cantrell Road, $5.3 million; and Normandy Place, an 80-unit complex at 7111 Indiana Ave., $5.27 million.
Tanglewood Apartments was sold by 7575 Properties LLC, led by Warren Stephenson.
Normandy Place was sold by Altus Equity Group Inc. of Rohnert Park, California, and its affiliate, Bader Normandy Arkansas LLC.
The Tanglewood deal is backed with a $4.8 million loan from Bancorp Bank of Wilmington, Delaware.
The 3.04-acre development was acquired for $3.2 million in January 2014 from S. Anderson Family LLC, led by Shy Anderson.
The Normandy Place deal is financed with a two-year loan of $4.3 million from Pender West REIT 1 LLC of Dallas.
The 2.57-acre development was purchased for $3.5 million in October 2016 from Normandy Place LLC, led by Max Mehlburger.
Red Roof Acquisition
A 48-room motel in southwest Little Rock tipped the scales at $1.77 million.
Sankar Mori Hospitality LLC, led by Nilay Patel, acquired the Red Roof Inn & Suites at 8115 Frenchmans Lane.
The seller is HSN Hospitality LLC, led by Davesh Sitaram.
The deal is funded with a 25-year loan of $1.3 million from Fidelity Bank of Fuquay Varina, North Carolina.
HSN bought the 1.26-acre development for $1.8 million in October 2015.
The seller was SAI Lodging Inc., led by Ishver Govind.
A 7,931-SF restaurant in west Little Rock weighed in at $1.58 million.
ARI Eat LLC, led by Alan Bubbus, purchased the P.F. Chang’s China Bistro at 317 S. Shackleford Road from Anz Family Estate LLC of Plano, Texas.
The deal is backed with a one-year loan of $500,000 from Simmons Bank of Pine Bluff.
Anz Family acquired the 2.06-acre development for $1.4 million in March 2010 from BV Development Little Rock LLC of Scottsdale, Arizona.
An 8,820-SF office building in west Little Rock rang up a $1.45 million sale.
A.A. Properties LLC, led by Syed and Ahmed Samad, bought the 11815 Hinson Road project.
The seller is Leek Properties LLC, led by Stephen Leek, which provided an $800,000 mortgage to finance the deal.
The 0.52-acre development was purchased for $553,000 in August 2002 from ASA Properties Ltd. LLC, led by Donald Mowery.
Adjoining commercial parcels in North Little Rock drew a $750,000 transaction.
Cadence Bank of Tupelo, Mississippi, acquired the combined 1.77-acre site near the southwest corner of Smokey Lane and Stockton Drive.
The seller is Arkansas Specialty Partners LLC, led by Dr. James Tucker.
The land was bought as part of two deals with the Woodcrest Co. LLLP, led by James P. Matthews: $297,000 in May 2010 and $417,000 in December 2015.
A 2,600-SF convenience store in Jacksonville sold for $550,000.
Young Sun Ko purchased the Valero project at 705 S. First St. from Bongil Ko.
The deal is funded with a three-year loan of $440,000 from First Arkansas Bank & Trust of Jacksonville.
The 0.99-acre development was acquired for $770,000 in May 2017 from Han & Son Inc., led by Keong Son.
Multifamily Buy I
A 16-unit apartment building in west Little Rock changed hands in a $475,000 deal.
JDP Holdco LLC of Nixa, Missouri, bought the 11311 Mara Lynn Road project.
The seller is Alpha Partnership LLP, led by Dwight Blissard.
The deal is backed with a one-year loan of $405,000 from Goldman Sachs Bank USA of New York.
The 0.68-acre development was purchased for $298,000 in April 1980 from Gordan Brown.
A 23.93-acre mobile home development in northwest Pulaski County is under new ownership after a $350,000 transaction.
Alser LLC, led by Alba Gamez, acquired Lone Pine Mobile Home Park at 14414 McHenry Circle.
The seller is RLE Investments LLC, led by Billy Stain, which provided a $265,000 mortgage to finance the deal.
The project was bought for $325,000 in April 2012 from the Carolyn Sue Henry Revocable Trust.
Multifamily Buy II
A four-unit apartment building in Little Rock rang up a $265,000 sale.
Arban Investment Properties LLC, led by Mohammad Rahman, Nick Chowdhury and Ahsanul Huq, purchased the 7800 Choctaw Road project.
The seller is TJT Corp., led by Tommie Threats.
The 0.35-acre development was acquired for $246,000 in August 2002 from Morris and Donna Nash.
A 1.99-acre parcel in west Little Rock drew a $250,000 transaction.
USA Storage Otter Creek LLC, led by Walter Lucy, bought the land near the southeast corner of Otter Creek and Stagecoach roads from West Side Properties Inc., led by Todd Hart.
West Side purchased the land in September 1984 as part of a $305,000 deal with John and Mary Sue Jacobs; Paul Hoover Jr. and his wife, Carolyn; Dr. Milton Hughes and his wife, Carol; and Tommy Hodges.
A 6.52-acre commercial site in eastern North Little Rock sold for $150,000.
I-40 Kerr LLC, led by Byron McKimmey, acquired the parcel near the southeast corner of U.S. 165 and Interstate 440. The sellers are Rita and Henry Hall, Chad and Courtney Golden, John Ott II and his wife, Anita; and Ira Golden II and his wife, Chasey.
The land was part of a June 1965 swap between John and Hattie Jo Ott and the Arkansas Game & Fish Commission.
A 4,993-SF home in west Little Rock’s Pleasant Valley neighborhood tipped the scales at $1.1 million.
Tyler and Lauren King purchased the house from Rene Gamewell. The deal is funded with a 13-year loan of $880,000 from Regions Bank of Birmingham, Alabama.
The residence was acquired for $311,000 in November 2001 from Charles and Mary Anne Hanson.
A 6,932-SF home in west Little Rock’s Hickory Creek neighborhood weighed in at $1.05 million.
Ed and Barbara Love bought the residence from Stanley and Catherine Payne. The deal is backed with a 30-year loan of $840,000 from Arvest Bank of Fayetteville.
The Paynes purchased the property for $1.1 million in June 2014 from Jon Underhill.
A 4,587-SF home in Little Rock’s Robinwood neighborhood changed hands in a $750,000 deal.
Jason Weatherton and Melissa Stone acquired the house from the Jim & Carolyn May Family Trust. The deal is financed with a 30-year loan of $548,250 from Simmons Bank.
The Mays bought the residence for $410,000 in October 1997 from Freddy and Betty Walloch.
A 4,576-SF home in west Little Rock’s Deauville Place neighborhood is under new ownership after a $730,000 sale.
Jacob Wooldridge and Camila Simoes purchased the house from Chunshan Gu and Yan Yan.
The deal is funded with a 27-year loan of $730,000 from Regions Bank of Birmingham, Alabama.
The residence was acquired for $597,000 in June 2016 from Zubair Ahmed and Umbar Ghaffar.