Ridgecrest Apartments Sold for $9M (Real Deals)


A 222-unit apartment complex in Little Rock tipped the scales at $9 million. Ridgecrest Apartments Little Rock LLC of Woodmere, New York, purchased its namesake project at 1900-2000 Reservoir Road from AM Capital Four LLC of Newport Beach, California.

AM Capital Four acquired the 9.21-acre development for $7.2 million in December 2019 from Ridgecrest LRAR LLC of Encino, California.

Southern Pines

A 36-acre mobile home development in southwest Little Rock weighed in at $5.65 million.

FSP Little Rock LLC of Roswell, Georgia, bought the Southern Pines Mobile Home Park at 9500 S. Heights Road from B&F Properties LLC, led by Paul Fleming.

The deal is financed with a three-year loan of $5.4 million from First Horizon Bank of Memphis. B&F purchased the property for $1.8 million in September 2003 from Snikpoh Investments Ltd., led by Donald and Sandra Hopkins.

Motel 6 Sale

A 110-room motel in east Little Rock drew a $3.05 million transaction.

Relianse MAR AR LLC of McKinney, Texas, acquired the Motel 6 at 3200 Bankhead Drive from Skybird Lodging LLC, led by Naresh Patel. The 2.08-acre development is helping secure a $7 million funding agreement with SF V CLE Lending LLC of New York.

Skybird Lodging bought the property for $2.6 million in October 2008 from Arkansas Hospitality Inn Inc., led by Mohammad Ramji.

Encore Transaction

An 8,752-SF bank building in west Little Rock changed hands in a $2.67 million sale-leaseback deal.

Own Core LLC, a local investment group led by Wes Martin, purchased the 12224 Chenal Parkway project from Encore Bank of Little Rock.

The deal is backed with a 10-year loan of $2.1 million from Encore Bank.

The 0.92-acre location was acquired for $675,000 in April 2004 from Brent and Becky Tyrrell.

Convenient Buy I

A 1,653-SF convenience store in midtown Little Rock rang up a $1.75 million sale. Blue CK W Markham LLC, led by Jared Coleman and Michael Kelly, bought the Superstop at 6317 W. Markham St. from Eyad and Linda Hassan and Amjad and Sahar Kattom.

The deal is financed with a $2.9 million loan from Artes Capital REIT I LLC of Westlake Village, California. The half-acre development was purchased for $540,000 in May 2011 from SPC Park Avenue Ltd., led by James Strode.

Convenient Buy II

A 2,832-SF convenience store in Sherwood is under new ownership after a $1.2 million deal. SY LLC, led by Sung and Yong Kim, acquired the Shell Maxmart at 8524 Hwy. 107.

The seller is YB Investments LLC, led by Yong Kim and Bok Han. YB Investments bought the half-acre development for $700,000 in September 2011 from Pluto LLC, led by Michael Coulson.

McAlister’s Acquisition

A 4,024-SF restaurant in west Little Rock sold for $1.15 million.

Sribhashya Properties LLC, led by Ramesh Veluvolu and Anulkumar and Nutan Patil, purchased the McAlister’s Deli at 12019 Westhaven Drive from Charles and Suzanne Arrington.

The deal is funded with a seven-year loan of $920,000 from Malvern National Bank. The Arringtons acquired the 1.13-acre site for $315,000 in January 1996 from Parkway West Ltd., led by John Graham and Chris Burrow.

Office-Warehouse Purchase

A 13,386-SF office-warehouse and adjoining land in North Little Rock drew a $1 million transaction.

MIDA Group II LLC, an affiliate of K Barger Realty in St. Petersburg, Florida, bought the 7810 Industry Drive project. The seller is Five Aces LLC, led by Anthony Brooks.

Five Aces acquired the 1.04-acre development for $750,000 in August 2019 from House Properties Inc., led by Byron House. A neighboring 0.91-acre parcel was purchased for $67,500 in June 2021 from House Properties.

Oxford Properties

A 12,324-SF office complex in North Little Rock changed hands in a $600,000 deal.

Oxford Properties LLC, led by Norman and Pamela Wilson, acquired the 2612 Gribble St. project from NCI Group Inc. of Houston, Texas.

The deal is backed with a $475,000 loan from Chambers Bank of Danville.

The 4.9-acre development on the Arkansas River was bought for $720,000 in December 2004 from House Properties Inc., led by Prince House.

Wash Land

A 0.94-acre car wash development in Sherwood is in motion after a $369,000 land deal.

Splash Kiehl LLC, led by Paul Stagg, purchased the location near the southwest corner of Kiehl Avenue and Brookswood Road. The seller is Zeiler Real Estate, led by Joseph Zeiler and Ruth Ann Stovall.

Construction is financed with a two-year loan of $3.7 million from Relyance Bank of Pine Bluff.

The property was assembled in deals with O.D. Longstreth Jr. and his wife, Kitty, $2,000 in June 1963; and Ezra and Mamie Pace, $2,000 in June 1967.

Cliffewood Abode

A 5,510-SF home in Little Rock’s Cliffewood neighborhood tipped the scales at $1.7 million.

Edward and Sarah Bailey bought the house from Jeff Fuller Homes LLC.

The deal is funded with a 10-year loan of $1.2 million from Encore Bank.

The location was purchased for $425,000 in June 2020 from Terminal Partners LLC, led by Val Hansen.

Hawk Valley Estates

A 3,624-SF home in west Pulaski County’s Hawk Valley Estates neighborhood weighed in at $1.2 million.

The C.D. & Leslie Williams Living Trust acquired the 36.72-acre spread from Matthew and Jennifer Henry.

The land was assembled in two deals with RHST Inc., led by Curtis Thomas: $98,840 in October 2013 and $75,000 in December 2021.