Jacksonville Apartments Valued at $13.5M (Real Deals)

Jacksonville Apartments Valued at $13.5M (Real Deals)

An apartment sale in Jacksonville encompassing 202 units weighed in at a reported $13.5 million.

Parkplace Project LLC of Brooklyn acquired the 92-unit Park Place project at 621 and 700 Poplar St., the 56-unit Windgate Square project at 701 Poplar St., the 46-unit Stone Village project at 300 S. Hospital Drive and the eight-unit Southview project at 1201 South Road.

The seller is Milrose Investors LLC of Airmont, New York. The deal is financed with $9.7 million from Pacific Private Money Inc. of Novato, California.

In February 2020, Milrose purchased the 2.01-acre Park Place development for $3.3 million, 1.26-acre Windgate development for $2 million and 1.67-acre Stone Village development for $1.8 million.

The seller was Tri Jacksonville Pro-perties LLC of Lakewood, New Jersey.

Super Transaction

A 4,995-SF super convenience store in North Little Rock tipped the scales at $4.21 million.

Exchangeright Net-Leased Portfolio 54 DST of Pasadena, California, bought the Kum & Go at 8801 Maumelle Blvd. from Spin Rock LLC, an affiliate of Fidelity Financial Corp. of Wichita, Kansas.

The project is helping secure an $87.8 million funding agreement with Morgan Stanley Bank of New York.

Spin Rock acquired the 1.83-acre development for $3.4 million in July 2020 from BBR Oil IV LLC of Iowa City, Iowa.

Executive Purchase

A 31,800-SF office building near the state Capitol changed hands in successive deals.

Showme Solution Properties LLC of O’Fallon, Missouri, purchased the Executive Building at 2020 W. Third St. from 2020 LR LLC of San Francisco for $2.3 million.

Then, Showme sold the project for $2.7 million to Saxion Enterprises LLC, led by Zachary Saxion.

The deal is backed with a five-year loan of $2.2 million from Partners Bank of Helena-West Helena.

2020 LR bought the 0.82-acre development for $1.4 million in February 2018 from Tri-B Realty Inc., led by John Billingsley.

Ramada Limited

A 60-room hotel in west Little Rock rang up a $2.6 million sale.

H&N Hospitality LLC, led by Rahul and Dayenaben Patel, acquired the Ramada Limited at 8 Shackleford Drive.

The seller is Chi Investments LLC, led by Jasen and Jacob Chi.

The deal is financed with a 25-year loan of $2.3 million from Bank of George in Las Vegas. The 1.03-acre site was purchased in October 1989 as part of a $247,000 deal with Ka Kieng Sy.

Chenal Commercial

Neighboring commercial sites in west Little Rock generated tandem million-dollar sales.

PotlatchDeltic Real Estate LLC sold a 1.69-acre parcel at the southeast corner of Chenal Parkway and LaMarche Road for $1.55 million and an adjoining 1.6-acre parcel for $1.49 million.

The buyers are Chenal Property Investors I LLC and Chenal Property Investors II LLC, both led by Leonard Boen.

The deals are funded with a pair of three-year loans of $1.1 million from Simmons Bank of Pine Bluff.

The land was acquired as part of the $1.2 billion merger of Potlatch Corp. of Spokane, Washington, and El Dorado’s Deltic Timber Corp. in Decem-ber 2018.

Amusing Acquisition

An amusement destination in southwest Little Rock is under new ownership after a $750,000 deal.

JTD Midtowne Investments LLC, led by Jason Dickinson, purchased Big Rock Fun Park at 11411 Baseline Road. The seller is MHH Properties LLC, led by Marci Hall.

The deal is backed with a five-year loan of $600,771 from Gateway Bank of Rison.

MHH Properties bought the 7.04-acre development for $290,000 in November 2013 from National Property Holdings LLC, led by Michael Love and Erick Stock.

Industrial Buy

A 61,429-SF industrial complex in Little Rock sold for $675,000.

Juice Tech Inc. of Texas acquired the 3300 S. Woodrow St. project from Red Brick Management Co., led by Roger Thiltgen.

Red Brick purchased the 10.56-acre development for $625,000 in July 2001 from Johns Manville International Inc. of Denver.

Bottin Property

A 5,500-SF commercial building in west Little Rock drew a $560,000 transaction.

Lisandro Ramos Polanco and Maria Meneses Ramos bought the 9808 N. Rodney Parham Road project from Bottin Family Real Estate LLC, led by Jim Bottin.

The 0.49-acre development was purchased for $375,000 in August 1985 from James and Annie Williams and Donald and Beverly Tatman.

Interstate Land

A 5-acre commercial site in south Little Rock changed hands in a $300,000 deal.

Lahiani Group Properties LLC, led by Mohamed and Helmi Lahiani, acquired the land on the south side of Interstate 30 Frontage Road near the southeast corner of I-30 and University Avenue.

The sellers are Michael Phillips, Donald and Jodi Crain and Betty and Richard Mayfield.

The deal is financed with a one-year loan of $195,000 from Simmons Bank.

The land was bought for $375 in June 1925 from George and Leonora Riegler.

Hallen Court

A 5,245-SF home in west Little Rock’s Hallen Court neighborhood tipped the scales at $1.4 million.

Brady Duncan purchased the house from New Home Estates Corp., led by Timothy Files.

The deal is funded with a 30-year loan of $1.2 million from CrossCountry Mortgage LLC of Brecksville, Ohio.

New Home acquired the location for $131,000 in December 2020 from PotlatchDeltic Real Estate.

Forest Heights Place

A 3,850-SF home in Little Rock’s Forest Heights neighborhood weighed in at $1.2 million.

Robyn and James Wilkerson III bought the house from Jeff Fuller Homes LLC.

The deal is backed with a 30-year loan of $1 million from First Horizon Bank of Memphis.

The property was purchased from Brian Elwood in September 2020 for $425,000.

Prospect Terrace

A 3,767-SF home in Little Rock’s Prospect Terrace neighborhood rang up a $1 million sale.

Done Deal Inc., led by Doug Hunnicutt, acquired the house from Frances Keeley.

The deal is financed with a five-year loan of $1.3 million First Security Bank of Searcy.

The residence was bought from Anita Rose Schulte in July 1984 for $225,000.

Chenal West Estates

A 4,751-SF home in the Chenal West Estates neighborhood is under new ownership after a $970,000 deal.

Brady Davis and Amy Lasseigne purchased the house from the Scott & Mary Minton Revocable Trust.

The deal is funded with a 30-year loan of $642,200 from Guaranteed Rate Inc. of Chicago.

The Mintons acquired the 5.34-acre spread for $80,000 in April 1999 from Chenal West Developers Inc., led by Curtis Thomas.