Village Green Sale Tallies $10.5M (Real Deals)


Village Green Sale Tallies $10.5M (Real Deals)
A map shows Village Green Apartments in Little Rock at 7601 N. Chicot Road (PAGIS/Mapbox)

A 172-unit apartment project in southwest Little Rock weighed in at $10.5 million.

Village Green Apartments Little Rock LLC, an affiliate of Somerset Partners of New York, sold its namesake complex at 7601 N. Chicot Road.

The buyers are Village Green CB LLC, MS Village Green CB LLC, Orchard CB LLC, Orchard EF LLC and YS Real Estate Investments LLC, all of Lakewood, New Jersey.

The deal is financed with a 10-year loan of $8 million from Arbor Commercial Funding I LLC of Uniondale, New York.

The 10.92-acre development was acquired for $6.2 million in April 2014 from Village Green AR Associates LLC, another affiliate of Somerset Partners.

Distribution Buy

A 352,599-SF warehouse complex in east Little Rock tipped the scales at $8 million.

BH Roosevelt Owner LLC of Bergen-field, New Jersey, purchased the 2200 E. Roosevelt Road property from Ben Davis Properties Management LLC, led by Ben and Diane Davis.

The deal is funded with a five-year loan of $6.2 million from Centennial Bank of Conway.

Ben Davis Properties assembled the 26.87-acre development in two $425,000 deals with Safe Rock Realty Co. LLC of Englewood, New Jersey, in April 2011 and Little Rock Co. of Beverly Hills, California, in September 2011.

Taco Bueno

A 2,589-SF restaurant in Little Rock drew a $1.93 million transaction.

El Tigre Investment LLC of Oceanside, California, acquired the Taco Bueno at 10114 Mabelvale Plaza Drive from Restinvest LLC of Broken Bow, Oklahoma.

The deal is backed with a five-year loan of $1.1 million from U.S. Bank of Cincinnati. Restinvest purchased the 0.8-acre location for $389,000 in Novem-ber 2005 from Mabelvale Plaza Phase II LLC, led by Rick Ashley.

Office Transaction

A 15,000-SF office building in North Little Rock is under new ownership after a $1.67 million deal.

Brookwood-167 NLR LLC, an affiliate of Brookwood Properties of Baton Rouge, bought the 5305 Warden Road project.

The seller is FW Holdings Research Properties LLC, led by Karen Flake.

The 1.8-acre development was acquired for $1.1 million in September 2003 from Tengy of Memphis.

Commercial Location

A 0.94-acre commercial site in west Little Rock rang up a $1.32 million sale.

ARI Eat LLC, led by Alan Bubbus, purchased the location near the southwest corner of Bowman Road and Markham Street for $1.3 million.

The seller is Hobby Rock Lot 3 LLC, led by Leslye Shellam.

The deal is financed with a 10-year loan of $2 million from Simmons Bank of Pine Bluff.

The property was bought in May 2003 as part of a $3.5 million deal with 2850 Sheridan Ltd., an affiliate of Inland Real Estate Group of Oak Brook, Illinois.

Multifamily Sale I

Four apartment buildings containing 16 units on the edge of Gravel Ridge changed hands in an $825,000 transaction.

Al-Joy Properties LLC, led by Samuel Emmerling, acquired the 3-5 and 8 Fra Mar Drive projects from the Tina Beck Living Trust and Beck’s Elaborate Living Properties LLC and Elaborate Properties LLC.

The deal is backed with a five-year loan of $942,076 from Arkansas Federal Credit Union of Little Rock.

The combined 1.09-acre properties were assembled in four deals totaling $454,000.

The sellers were Reliable Properties LLC, led by Deborah and Rusty Herman, $90,000 in May 2011; G.G.F. Inc., led by Lloyd Friedman, $68,000 in February 2012; Velva Collins, $120,000 in September 2013; and D&D Real Estate Rental Inc., led by Donald Toennies, $176,000 in February 2020.

Mini Purchase

A 52-unit mini-storage project in the Oak Grove community sold for $650,000.

Scott and Jennifer Vecchione bought A-Affordable Mini Storage at 11100 MacArthur Drive from Genesis1 LN Properties LLC, led by Neil Ferguson and Lonnie Lindekugel.

The deal is funded with a five-year loan of $520,000 from First Community Bank of Batesville.

Genesis acquired the 3.06-acre location for $270,000 in August 2020 from James Hoover Sr. and his wife, Loretta.

Multifamily Sale II

A six-unit apartment building in downtown Little Rock drew a $550,000 transaction.

The Eclipse Apartments LLC, led by Chris Moses, sold its namesake project at 410 E. Sixth St.

The buyer is Ponderosa Estates LLC, led by Tyler Toft.

The deal is financed with a five-year loan of $467,500 from Malvern National Bank.

The 0.13-acre development was bought for $337,500 in August 2015 from M&S Apartments LLC, led by Mark Reynolds.

Multifamily Sale III

A triplex in downtown Little Rock is under new ownership after a $340,000 deal.

Mark and Kimberly Christ acquired the 624 Rock St. project from Phillip Burrows.

The deal is backed with a 30-year loan of $247,200 from Better Mortgage Corp. of New York.

Burrows purchased the 0.12-acre development for $246,000 in February 2012 from John and Kay Tatum.

Orle House

A 6,168-SF home in west Little Rock’s Orle neighborhood weighed in at $1.63 million.

Joey and Leslie Wiggins bought the house from AR Reddy Investments LLC, led by Raghu Reddy.

The deal is funded with a 30-year loan of $1.3 million from Arkansas Federal Credit Union.

The location was acquired for $156,900 in December 2015 from Deltic Timber Corp. of El Dorado.