North Little Rock Apartments Sold for $25M (Real Deals)


North Little Rock Apartments Sold for $25M (Real Deals)

A 320-unit apartment project in North Little Rock weighed in at $25.02 million.

Timbers At Lakewood Ltd., an affiliate of EB Real Estate Group of Cedarhurst, New York, bought McCain Park Apartments at 6 McCain Park Drive. The seller is McCain Park Apts LLC, an affiliate of Rhodium Capital Advisors of Monsey, New York.

The deal is financed with a 10-year loan of $17 million from Berkeley Point Capital LLC of Lower Gwynedd, Pennsylvania.

The 18.65-acre development was acquired for $18.8 million in November 2019 from FREG McCain Park Associates LLP, an affiliate of Forum Real Estate Group of Glendale, Colorado.

Hotel Home

A Hilton Home 2 project in midtown Little Rock is in motion after a $1.71 million transaction.

Midtown Lodging LLC, led by Shawn Govind, purchased the 2.31-acre location at the southeast corner of Sixth and McKinley streets.

The seller is Little Rock Midtown Ltd., an affiliate of Provident Realty Advisors of Dallas.

The limited partnership bought the former site of the 56,060-SF Doctors Plaza in October 2016 as part of Little Rock Midtown’s $44 million deal with a pair of New York investment groups, Little Rock Medical Associates IV LLC and Little Rock Medical Associates V LLC.

After Hours Acquisition

A veterinary project in North Little Rock tipped the scales at $1.6 million.

Gray Whale LLC of Chula Vista, California, acquired the After Hour Animal Hospital and Premier Boarding Kennel at 260 Smokey Lane.

The seller is Terravet AH Little Rock LLC, an affiliate of Calico Real Estate of Bala Cynwyd, Pennsylvania.

The deal is funded with a 10-year loan of $649,000 from Bank of the West in San Francisco.

Terravet purchased the 1.49-acre development for $1.2 million in November 2018 from Hunter Properties LLC, led by Dean Hunter.

Convenient Purchase

A 2,596-SF convenience store in west Little Rock changed hands in a $1.5 million deal.

A To Z Holdings LLC, led by Nooruddin Bhamani, bought the Exxon project at 13901 Chenal Parkway. The seller is Sultana’s Property LLC, led by Kammar Pabani.

The deal is backed with a four-year loan of $960,000 from First Community Bank of Batesville.

Sultana’s acquired the 0.76-acre development for $825,000 in July 2013 from HyPark Inc., led by Floyd Parker.

Ownership Slice

A 7.25% stake in a 63-unit apartment project in downtown North Little Rock sold for $999,249.

JG Topeka Tic De LLC, an investment group managed by Maxus Properties in North Kansas City, Missouri, purchased its piece of The Vue at 630 Riverfront Drive. Seller: The Skyline Commons LLLP, a Maxus affiliate.

The 5.8-acre Opportunity Zone development is financed with a 10-year loan of $35.9 million from KeyBank of Cleveland.

The land was bought for $2.5 million in January 2017 from the Public Building Authority of the city of North Little Rock.

Hale Transaction

A 23.38-acre industrial parcel in east North Little Rock drew a $627,132 transaction.

Jenstar Of Arkansas, an affiliate of Hale Trailer Brake & Wheel of West Berlin, New Jersey, acquired the land near the southwest corner of Faulkner Lake Road and Interstate 440.

The seller is J.A. Riggs Tractor Co., led by John Riggs IV. The land was purchased in April 1995 as part of an $842,000 deal with an investment group that included the estate of Herschel Friday; Nancy Friday; William and Peggy Sutton; Wil-liam and Elizabeth Terry; the Boyce Love Testamentary Trust; William Patton Jr. and his wife, Kay; William and Mary Lou Cravens; and the Oaklawn Jockey Club, led by Charles Cella.

Pruned Branch

A 2,532-SF bank branch in North Little Rock rang up a $550,000 sale.

Diamant Properties LLC, led by Donald and Julie Diamant, bought the 0.49-acre development at 3502 JFK Blvd. from Arvest Bank of Fayetteville.

The deal is funded with a one-year loan of $292,500 from First Security Bank of Searcy.

The former FirstSouth branch was acquired for $192,000 in August 1992 from the Resolution Trust Corp. as receiver for Home Savings Association of Kansas City.

The property was expanded to its current configuration in May 2000 through a $38,000 deal with George Brown.

First Assembly Buy

A 6,667-SF office building in North Little Rock is under new ownership after a $450,000 deal.

First Assembly Of God North Little Rock Inc. purchased the 4524 Burrow Drive project from Covenant Ministry International, led by Douglas Rudd Sr.

The 0.83-acre development was bought for $330,000 in September 2016 from Bells CDC Building LLC, led by Richard Bell.

Solar Farm

An 80-acre tract at the Little Rock Port Industrial Park changed hands in a $277,500 transaction.

Today’s Power Inc., a wholly-owned subsidiary of Arkansas Electric Cooperatives Inc., acquired the land southwest of the Amazon facility at 7001 Zeuber Road from the city of Little Rock.

The site, about half of which is developable, will be the home of a solar array to provide power for Pulaski County.

The city purchased the land in May 2020 as part of a 120-acre, $378,000 deal with the estate of Samuel Raines; the Barbara Lea Wilkinson Duty 2003 Living Trust; Jane Baugus Ltd., led by Susan Ramey; Fourche Island Inc., led by Mary Toney; and Twilla Harper.

Office Property

A 2,128-SF mobile office building in south Little Rock sold for $190,000.

Atilio Garcia bought the 7217 Geyer Springs Road project from LF Staffing Services LLC, led by Amit Singh.

The deal is backed with a five-year loan of $152,000 from Little Rock’s Bank OZK.

The 1.51-acre development was acquired for $110,000 in December 2019 from Georgia and Michael Greer, George and Linda McCroskey, Billy and Janette McCroskey and Barbara Sue Curry.

Chenal Downs

A 7,834-SF home in west Little Rock’s Chenal Downs neighborhood weighed in at $1.4 million.

Derek and Shannon Turner purchased the house from Peter and Ruth Han. The deal is financed with a 30-year loan of $1.1 million from Guaranteed Rate Inc. of Chicago.

The Hans bought the residence for $1.3 million in August 2005 from Kevin and Judith Forte.

Orle Abode

A 6,220-SF home in west Little Rock’s Orle neighborhood drew a $995,000 transaction.

John and Kristie Moss acquired the house from Mark and Jennifer Tait. The deal is funded with a 30-year loan of $625,000 from Bank of Little Rock Mortgage Corp.

The Taits purchased the residence for $750,000 in May 2016 from Peter and Elizabeth Banko.

Midland Hills

A 3,799-SF home in Little Rock’s Midland Hills neighborhood rang up a $822,500 sale.

Victoria DeFrancesco and Neftali Garcia bought the house from the SEN Revocable Trust, led by Steve E. Nicholson.

The deal is backed with a 30-year loan of $658,000 from Bank of America in Charlotte, North Carolina.

The residence was acquired for $260,000 in June 1997 from Minnie Burton.