Pleasant Woods Sells In $23.4M Transaction (Real Deals)


Pleasant Woods Sells In $23.4M Transaction (Real Deals)
Pleasant Woods Apartments at 10800 Pleasant Ridge Road in west Little Rock. (Google Maps)

A 220-unit apartment complex in west Little Rock weighed in at $23.4 million.

Pleasant Woods LR LLC, an affiliate of Dial Realty of Omaha, Nebraska, sold its namesake project at 10800 Pleasant Ridge Road. 

The buyer is 3833 Mustang Road LLP, an affiliate of Interurban Cos. in Centennial, Colorado.

The deal is financed with a 10-year loan of $11 million from Orix Real Estate Capital LLC of Columbus, Ohio.

The 18.3-acre development was purchased for $12.2 million in December 2011 from Pleasant Woods Apartment Associates LLC, an affiliate of Berwind Property Group of Yardley, Pennsylvania. 

Chenal Corners

A 12,000-SF retail-office project in west Little Rock tipped the scales at $4.5 million.

Chenal Corners Development LLC, led by Raouf Kassisseh, bought its namesake project at 6015 Chenonceau Blvd. from Karen Flake and the Flake Family Trust.

The deal is backed with a six-month loan of $3.6 million from Simmons Bank of Pine Bluff.

The 3.19-acre site was assembled in two deals with Coulson Properties Ltd., led by Mike Coulson, $652,000 in January 2000; and El Dorado’s Deltic Farm & Timber Co., $279,000 in December 2003. 

Woodland Terrace

A 60-unit apartment complex in North Little Rock rang up a $4 million sale.

Woodland Terrace Properties LLC, an affiliate of Wild Oak Capital in Durango, Colorado, acquired its namesake project at 1701 Skyline Drive.

The seller is Danny Thomas Properties I Ltd., led by William Daniel Thomas III.

The deal is funded with a five-year loan of $525,000 from Simmons Bank.

The 2.94-acre development was bought for $1.6 million in December 1982 from Warren and Mae Horn White.

River Property

A 24.92-acre tract along the Arkansas River in North Little Rock drew a $2.05 million transaction.

Terraforma Opportunity Zone Fund LLC, led by David Bruning, purchased the land, which stretches southeastward from Paul Duke Drive along the south side of River Road.

The seller is Full Counsel Ministries Inc., led by Silas Johnson.

The nonprofit corporation acquired the property for $50,000 in May 1992 from Dynamic Productions Inc., led by Clifford Ford.

Multifamily Trio

A trio of apartment projects in Little Rock sold for $1.68 million.

Melmore Apartments LLC, Phillips Apartments LLC and Olsen Apartments LLC, all led by Lon and Lynn Akerberg, Patsie Johnson and Larry Olsen, sold their namesake projects. 

The buyer is Saxion Enterprises LLC, led by Zachary Saxion.

The transaction encompassed the eight-unit Phillips project at 924 Cumberland St., the eight-unit Olsen project at 218 W. 13th St. and the six-unit Melmore project at 511 Rock St.

The deal is financed with a three-year loan of $1.9 million from First Community Bank of Batesville.

The 0.32-acre Phillips development was acquired for $179,000 in May 1994 from Jimmy and Kelli Alford and Terry and Linda McFarland.

The 0.17-acre Olsen development was bought for $153,000 in October 1998 from the Hardman Ketchum & Baker partnership, led by William and Sherri Hardman and Wendell and Carol Ketchum.

The 0.16-acre Melmore development was purchased for $190,000 in March 1997 from Rose Rosenfield Hecker and Anita Rosenfield.

Crouch Investment

A 38,120-SF industrial building in North Little Rock changed hands in a $775,000 deal.

Steve Crouch Investment Properties LLC of Nash, Texas, bought the 10015 Firestone Lane project from CAC Properties LLC, led by Mike Gueringer and Paul Reesnes.

The deal is backed with a 20-year loan of $697,500 from Diamond Bank of Murfreesboro.

The 2.28-acre property was assembled in four deals that began with a $6,000 foreclosure sale in July 1964 and was followed with buys from B.A. and Sue Hood, $4,000 in November 1979; Sharon Arnold, $45,000 in March 1998; and Donnie Reed, $17,000 in May 1998.

Land Acquisition

A 15.85-acre parcel in North Little Rock is under new ownership after a $475,000 transaction.

Jenstar of Arkansas LLC, an affiliate of Hale Trailer Brake & Wheel of West Berlin, New Jersey, purchased the land along the west side of Interstate 440 south of Faulkner Lake Road from Bank of Little Rock.

The bank recovered the property at a $700,000 foreclosure sale in October 2019 from Glover Properties LLC, led by James Glover. 

Office-Warehouse Buy

A 9,966-SF office-warehouse in the Little Rock Industrial Park rang up a $379,000 sale.

6219 Murst LLC, an affiliate of Colliers Arkansas, acquired the Electric Supply Co. project at 6219 Murray St. from Dave Guess.

The 1.01-acre property was purchased for $168,000 in July 1993 from Edith Robinson.

Multifamily Sale

A three-unit apartment property in Little Rock drew a $350,000 transaction.

Robert Rayford Jr. and his wife, Shantay, bought the 105 Battery St. project from Windy Point LLC, led by Mark Babbitt.

The deal is funded with a 30-year loan of $336,461 from Encore Bank of Little Rock.

Windy Point acquired the 0.15-acre development for $185,000 in April 2017 from Little Rock Community Health Center Inc., led by Thomas Grunden. 

Forbing Project

A 3,853-SF commercial building in Little Rock sold for $290,000.

Brittney and Sandra Hood purchased the 6319 Forbing Road project.

The seller is Le Cartier LLC, led by Elta Carter.

The deal is financed with a three-year loan of $239,200 from Southern Bancorp Bank of Arkadelphia.

Le Cartier bought the 0.57-acre development for $168,000 in February 2013 from Truvest LLC, led by Terence and Britteny Bass.

Longfellow Circle

A 4,151-SF home in Little Rock’s Longfellow Circle neighborhood weighed in at $1.8 million.

The Thomas R. Wallace & Anne S. Wallace Living Revocable Trust acquired the house from the Patricia P. Smith Trust.

Michael and Patricia Smith purchased the residence for $420,000 in February 1989 from Reginald and Marion Halvenston.

Prospect Terrace

A 3,444-SF home in Little Rock’s Prospect Terrace neighborhood tipped the scales at $1.15 million.

Jeffrey and Sonia Orcutt bought the house from Bryan and Kathryn Mullooly.

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

The Mullooly family acquired the residence for $880,000 in December 2015 from Julia and Randolph Garcia.

Bretagne Circle

A 5,314-SF house in west Little Rock’s Bretagne Circle neighborhood changed hands in a $1.08 million deal.

Mauricio De Sicila and Ana Galvan purchased the house from Robert and Caroline Fow.

The deal is funded with a 30-year loan of $918,000 from Eagle Bank & Trust of Little Rock.

The Fows bought the residence for $1.05 million five months ago from the Snider Family Revocable Trust, led by Randall Snider Jr. and his wife, Christina.

Kavanaugh Square

A 16,312-SF retail project in the Hillcrest area of Little Rock is under new ownership after a $2.95 million transaction.

Moon Distributors Inc., led by Stan Hastings Sr., acquired Kavanaugh Square at 2701 Kavanaugh Blvd. The seller is Hillcrest Properties Inc., led by Kelley Johnson.

The 0.49-acre development was purchased for $552,000 in April 1993 from National Bank of Commerce in Memphis.

Parkwood Center

A three-building commercial project with 65,123-SF under roof rang up a $2.28 million sale.

BHWLR Parkwood Center LLC of Bergenfield, New Jersey, bought the Parkwood Center at 6801, 6805 and 6807 W. 12th St. from Danny Thomas Properties V Ltd., led by William Daniel Thomas III.

The deal is financed with a five-year loan of $1.9 million from Arkansas Federal Credit Union of Little Rock.

The 4.92-acre development was acquired for $1.8 million in January 1985 from Brandon Properties Inc., led by William Brandon.

Media Gateway Sale

A 30,832-SF broadcast studio in west Little Rock drew a $1.85 million transaction.

Pinnacle Church of Christ purchased the 1 Shackleford Drive project from Media Gateway Facility LLC, led by Matthew Davidge.

The deal is backed with a five-year loan of $1.5 million from Central Bank of Little Rock. 

The 2.66-acre development was bought for $1.2 million in February 2016 from Rock City Media LLC, led by Doug McHenry.

Mobile Transaction

A pair of mobile home parks in Jacksonville sold for $1.3 million.

Phoenix Ark MHC LLC and Paradise Village Ark MHC LLC, both of Jackson, Tennessee, acquired their namesake properties: the 37-unit Paradise Village project at 300 Taylor St. and the 65-unit Phoenix project at 2205 Green Acres Road.

The seller is Gypsy Properties LLC, led by Shanna and Christopher Holmes. The limited liability company provided a $1 million mortgage to fund the deal.

In March 2020, Gypsy Properties stepped into the ownership picture of the 7.06-acre Phoenix development and 3.58-acre Paradise development in a $500,000 deal, part of a deed in lieu of foreclosure.

The seller was Paradise-Phoenix Properties LLC, led by Dennis Downing. 

Office-Warehouse Buy

A 6,000-SF office-warehouse on the northern outskirts of Maumelle changed hands in a $1.1 million deal.

Singh Countertop Inc., led by Narinder Kaur and Gurdev Dogra, bought the 1-acre development at 14844 Ingram Road.

The seller is The Countertop Store Inc., led by Donna Small. The deal is financed with a $583,800 loan from Centennial Bank of Conway.

The 1-acre location was purchased for $30,000 in April 2018 from David and Doris Jacks. Singh Countertop also bought two adjoining 1-acre parcels for $75,000 from the Jacks family.

The land was acquired in April 1998 as part of a $240,000 deal with the Sam K. Viersen Jr. Revocable Trust.

Office Acquisition

A 4,257-SF office building in west Little Rock is under new ownership after a $750,000 deal.

10311 W. Markham LLC, led by Kenneth Clark II and John Hathaway, purchased its namesake address from Abba’s Trust LLC, led by Walt Dickinson Jr. and Carl Mashburn.

The deal is backed with a 25-year loan of $600,000 from Relyance Bank.

The 1.51-acre development was bought for $495,000 in January 2004 from Nancy and James Shuffield.

Smoke Shop

A 2,448-SF commercial building in Maumelle rang up a $379,000 sale.

The Cigarette Store LLC of Boulder, Colorado, acquired the 700 Edgewood Drive project.

The seller is Tobacco Superstores Inc., led by Allen Cohn.

The 0.44-acre development was purchased in May 2017 at a $157,500 foreclosure sale.

The previous owner was RWL Investments LLC, led by Ron Lazenby.

Fones House

A 4,660-SF office building in downtown Little Rock drew a $285,000 transaction.

Hai Huy Phan bought the Fones House at 902 W. Second St. from the Everett O. Martindale Jr. Revocable Family Trust.

The deal is funded with a 30-year loan of $213,750 from Arvest Bank of Fayetteville.

The 0.18-acre development was acquired for $160,000 in December 1993 from HLB Family Ltd., led by Harvey Bell.

Church Property

A 5,650-SF church in Maumelle sold for $150,000.

Pirogue Point LLC, led by John and Cynthia Reese, purchased the property at 13806 Overstreet Road from Windsong Church of Christ.

The deal is financed with a one-year loan of $100,000 from Central Bank.

The 0.91-acre location was bought for $8,000 in September 1975 from Cecil and Mamie Thornton.

Warehouse Purchase

Hamilton & Newman-AR LLC, led by James Newman, bought a 122,930-SF warehouse on 4.18 acres for $2.69 million from Goff Warehouse LLC, led by Richard Goff.

Goff Warehouse acquired the property at 1900 E. Roosevelt Road for $1.3 million in June 2012 from Curtis Finch Jr.

Sologne Circle

A 5,065-SF home in west Little Rock’s Sologne Circle neighborhood weighed in at $1.1 million.

Stephen and Mary Paulus acquired the house from the Perry Revocable Trust, led by Edward Perry.

The deal is backed with a 30-year loan of $880,000 from BNC National Bank of Glendale, Arizona.

The residence was purchased for $870,000 in June 2003 from Wayne Moore Construction Co.

Deauville Place

A 4,865-SF home in the Deauville Place neighborhood of west Little Rock tipped the scales at $1.07 million.

Rajesh and Pumposh Mehta bought the house from Michael and Judy Shelley.

The deal is funded with a 15-year loan of $860,000 from Cadence Bank of Tupelo, Mississippi.

The Shelleys acquired the residence for $920,000 in May 2013 from Mark and Cheryl Miller.

Heights Home

A 4,797-SF home in the Heights area of Little Rock changed hands in a $1.02 million deal.

George and Jana Cress purchased the house from Frederick and Mary Barr. The deal is financed with a 30-year loan of $871,250 from Encore Bank.

The Barrs bought the residence for $890,000 in August 2017 from the French Family Trust, led by Mary French.

Pavilion Purchase

The acquisition of Little Rock’s Pavilion in the Park is financed with a 25-year loan of $3.3 million from Relyance Bank of White Hall.

The $8.85 million purchase of the 82,000-SF project at 8201 Cantrell Road was made by Central Properties Inc., Queen Regina LLC, Big Mike Holdings LLC and Honey Badger Holdings LLC, all led by Karen Flake.

The seller was Vivacat Investors LLC, led by Dr. Scott Schlesinger and the LaFrance brothers, Stephen Jr. and Jason.

Vivacat bought the 4.31-acre development for $4.2 million in April 2012 from Pavilion in the Park LLC, led by Rick Ferguson.