Chenal Pines Purchase Surpasses $35 Million (Real Deals)


Chenal Pines Purchase Surpasses $35 Million (Real Deals)
Chenal Pines in Little Rock (Hannah Jobe)

A 130-unit independent living center in west Little Rock tipped the scales at nearly $35.3 million.

Chenal Pines Retirement Community LLC of Lincoln, Nebraska, sold its namesake project at 16715 Champagnolle Drive.

The buyer is WSL-Chenal Pines LLC, an affiliate of Wheelock Street Capital of Greenwich, Connecticut.

The deal is backed as part of a two-year, $87 million funding agreement with Wells Fargo Bank of Sioux Falls, South Dakota.

The 7.8-acre site was purchased for $3 million in June 2017 from Deltic Timber Corp. of El Dorado.

Anchor Transaction

The sale of a retail-restaurant combo in west Little Rock weighed in at $4.5 million

Delray Enterprises FB LLC of Gainesville, Virginia, bought a 6,579-SF retail project and adjoining 3,242-SF Tacos for Life at 13924 Cantrell Road.

The seller is Anchor Realty Investments LLC, led by Alan Bubbus.

The deal is financed with a 10-year loan of $1.5 million and one-year loan of $800,000 from Relyance Bank of Pine Bluff.

Anchor Realty developed the retail space after acquiring the 1.67-acre property for $1.5 million.

The seller in that May 2018 transaction was Mexico Chiquito Highway 10 LLC, originally led by Jerry Haynie.

Dollar Development

A 1 million-SF distribution center project is in motion after a $2.43 million land deal in North Little Rock.

Dolgencorp LLC, an affiliate of Dollar General Corp. in Goodlettsville, Ten-nessee, purchased 152 acres on U.S. 70 about a half-mile east of the Amazon fulfillment center at 13001 U.S. 70.

The seller is Tulip Farms Inc., led by Jimmy Winemiller. The corporation acquired the property in December 2011 as part of a $1 million deal with Little Rock’s Bank OZK.

The bank took possession of the land through a deed in lieu of foreclosure transaction in September 2011 with Rex Robertson. The property secured a February 2007 mortgage of $2.25 million held by the bank.

Dollar Store Buy

A 9,320-SF Dollar General in North Little Rock rang up a $1.57 million sale.

Springfield 1467 LLC, led by Scott Proctor, and Primer KG LLC, led by James Meister Jr., acquired the 6700 MacArthur Drive project.

The seller is PB General Holdings (MacArthur) LLC, led by Leonard Boen.

The deal is funded with a 10-year loan of $1.3 million from Simmons Bank of Pine Bluff. The 1.2-acre site was purchased for $175,000 in March 2020 from Dirtcrete LLC, led by Grant Garrett.

Circle Site

A 0.88-acre Circle K development in North Little Rock is in the works after a $475,000 deal.

Blue CK Pike RD LLC, led by Jared Coleman, bought the D&H Liquor project at 1604 Pike Ave. The seller is the 3SK Family Trust, led by Paula Smith Bramlett and Kathy Reese Lamb.

The deal is financed with a $3.6 million loan from ARTES Capital REIT I LLC of Westlake Village, California.

The property was assembled in three deals with J.A. Craig, $10,500 in January 1959; Jean and Inez Cox, $7,000 in January 1961; and Hubert and Nona Jackson, $1,500 in February 1961.

Office-Warehouse Sale

A 10,000-SF office-warehouse in west Little Rock changed hands in a $432,500 foreclosure sale.

Erret LLC, led by Tracy Tisdale, purchased the 1920 John Barrow Road project. The previous owners were Accessibilities Specialties Inc., led by Russell and Regina Mashburn and Billy and Pamela Rice.

The 1.23-acre development was tied to May 2016 mortgages totaling $439,500 held by U.S. Bank of Cincinnati.

The site was bought for $115,000 in February 2000 from Alpha Land Co., led by Kelton Brown Sr.

Warehouse Foreclosure

A 37,436-SF warehouse in Little Rock is under new ownership after a $397,000 foreclosure sale.

Bank OZK recovered the 3300 Brown St. project from Kevin and Gina Womack.

The property was linked with a November 2010 mortgage of $1 million originated by Summit Bank of Arkadelphia, acquired by Bank OZK in 2014.

The Womacks purchased the 3.46-acre development for $900,000 in December 1995 from Don and Carolyn Kirkpatrick.

W&W Acquisition

A 10,080-SF warehouse in downtown Little Rock sold for $350,000.

W&W Rental Properties LLC, led by Robert W. Miller, bought the 1207 Spring St. project from James and Brenda Carlisle.

The deal is backed with a two-year loan of $234,700 from Citizens Bank of Batesville.

The Carlisles acquired the 0.64-acre development in October 2003 as part of a $150,000 deal with Barq’s Warehouse LLC, led by Chuck Heinbockel.

Overlook Park

A 4,926-SF home in Little Rock’s Overlook Park neighborhood drew a $795,000 transaction.

Abby McColgan acquired the house from the Peter M. Price & Judit Megyesi Joint Revocable Trust.

The deal is funded with a 20-year loan of $636,000 from Bank of Little Rock Mortgage Corp.

The residence was purchased for $500,000 in March 2001 from Stephen Van Devanter and Francine Tryca.

Ridge Residence

A 5,025-SF home in The Ridge neighborhood of Little Rock rang up a $779,000 sale.

Blake and Sarah Jacks bought the house from Chad and Karen Greenway.

The deal is financed with a 30-year loan of $779,000 from First Horizon Bank of Memphis.

The Greenways acquired the residence for $775,000 in May 2018 from Mark Todd and Angela Todd.

The Oaks

A 3,879-SF home in The Oaks neighborhood of west Little Rock changed hands in a $753,500 deal.

Bo and Jamie McNeill purchased the house from Ronnie and Julie Ann Russell.

The deal is backed with a 15-year loan of $602,800 from First Security Bank of Searcy.