Maumelle Apartments Surpass $40.5 Million (Real Deals)

Maumelle Apartments Surpass $40.5 Million (Real Deals)
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The 384-unit apartment complex in Maumelle weighed in at $40.52 million. 

River Pointe Maumelle LLC, an affiliate of RREAF Holdings in Dallas, bought River Pointe Apartments at 7325 Riverpointe Drive. The seller is HPI River Pointe LLC, an affiliate of Hamilton Point Investments of Old Lyme, Connecticut.

The deal is backed with a 10-year loan of $33.7 million from Berkadia Commercial Mortgage LLC of Ambler, Pennsylvania.

HPI acquired the 14.3-acre development for $40 million in May 2019 from Riverpointe Development LLC, led by Keith Richardson.

Argenta Square

A 57-unit apartment project in downtown North Little Rock tipped the scales at $4.65 million.

Saxion Enterprises LLC, led by Zachary Saxion, purchased Argenta Square Apartments at 615, 617 and 620 Maple St. The seller is North Little Rock Investors II LLC, an affiliate of Wilhoit Properties of Springfield, Missouri.

The deal is financed with a 20-year loan of $3.8 million from First Service Bank of Greenbrier.

The 1.91-acre development was bought for $3 million in September 2018 from Argenta Ltd. II, led by Don Chambers.

Wright’s Location

The future home for a Wright’s Barbecue in Little Rock’s Riverdale area changed hands in a $1.85 million deal.

Riverdale McRiverdaleface LLC, led by T.J. Lefler and Jordan Wright, acquired the headquarters of Yellow Rocket Concepts at 1311 Rebsamen Park Road. The seller is Lost 40 Brewery LLC, led by John Beachboard.

The redevelopment of the 11,150-SF office-warehouse is funded with a seven-year loan of $2.8 million from Simmons Bank of Pine Bluff.

Lost 40 purchased the 2.04-acre property for $825,000 in August 2016 from Roy Dudley.

Clinical Purchase

A 2,648-SF clinic in west Little Rock rang up a $1.01 million sale.  

The George M. Wells Revocable Trust and Rebecca Fitzjerrell Wells Revocable Trust bought the Baptist Health Urgent Care at 11402 W. Markham St.

The seller is RCG-Markham LLC, an affiliate of RCG Ventures in Atlanta.

RCG acquired the 0.55-acre development in December 2019 as part of a $19 million deal with Weingarten/Investments Inc. of Houston.

Horizon Development

Construction of an assisted living project in Sherwood is in motion after a $700,000 transaction.

Horizon Senior Living LLC, led by Deepakbhal Patel, purchased the 11.54-acre parcel that wraps around the southeast corner of Brockington Road and Indian Bay Drive from First Security Bank of Searcy.

Construction is backed with a three-year loan of $13.4 million from First Arkansas Bank & Trust of Jacksonville.

The bank bought the property in May 2018 as part of a $900,000 deal with HDJ Realty LLC, led by Hal Matthews.

Shop Talk

A 2,276-SF property in the Heights area of Little Rock is under new ownership after a $610,000 deal.

Three Shops With a Top LLC, led by John Hathaway, acquired the L&L Beck Art Gallery at 5705 Kavanaugh Blvd. The seller is 5701 Kavanaugh LLC, led by Merritt Dake.

The deal is financed with a five-year loan of $497,500 from Encore Bank of Little Rock.

The 0.08-acre development was purchased for $347,500 in September 2020 from the Nicholas Co. LLC, led by Louis Beck.

Warehouse Acquisition

Adjoining warehouses in North Little Rock rang up a $600,000 sale.

JWJ Investments LLC, led by Steven Jenkins, bought the 22,500-SF project at 3406 Hwy. 161 and the 13,000-SF project at 3412 Hwy. 161.

The seller is Cox Fixture & Refrigeration Inc., led by Christie Cox. The 7.78-acre property was assembled as part of transactions with the bankruptcy estate of Universal Pipe & Supply Inc., $4,000 in April 1976; and the Samuel Yutaka Yada Revocable Trust and the Haruye Yada Revocable Trust, $177,000 in July 1988.

Day Spa Venture

A 3,557-SF office building in west Little Rock drew a $410,000 transaction.

Little Rock Day Spa & Lashbar LLC, led by Princess Gupton, purchased the 711 Towne Oaks Drive project from Executive Services Inc., led by Joyce Guess.

The deal is funded with a three-year loan of $310,000 from First Community Bank of Batesville.

Executive Services bought the 0.76-acre development for $290,000 in November 2010 from Towne Oaks LLC, led by James Dockery and Richard Frazier.

Office Transaction

A 2,649-SF office building in west Little Rock changed hands in a $387,000 deal.

RA Cline LLC, led by Robert Cline, acquired the 10016 W. Markham St. project. The seller is Strong Wolf Ledbetter LLC, led by Glenn Strong Jr., Russell Wolf and Chris Ledbetter.

Strong Wolf Ledbetter purchased the 0.31-acre development for $320,000 in December 2019 from 10016 West Markham LLC, led by John Bice and the Jack & Judy Larrison Revocable Trust.

Land Buy

A 16.02-acre tract in northwest Pulaski County rang up a $250,000 sale.

The Waylon Biggs Agency LLC, led by Waylon Biggs, bought the land on the south side of Highway 365 near Shady Pine Road.

The seller is Alser LLC, led by Alba Gamez.

The deal is backed with a two-year loan of $200,000 from First Service Bank.

Alser acquired the property in November 2021 as part of a $350,000 deal with RLE Investments LLC, led by Billy Stain.

Church Property

A 9.71-acre church property in southwest Little Rock is under new ownership after a $225,000 deal.

Marco Lobos Lopez and Rosa Maria Orantes Quintanilla purchased the former Lutheran Church of the Redeemer at 9300 Chicot Road from the Mid-South District of the Lutheran Church-Missouri Synod in Cordova, Tennessee.

The synod bought the land for $23,000 in March 1966 from Thurman and Jean Douglass.

Rural Residence

A 2,898-SF house in west Pulaski County weighed in at $1.1 million. 

Mark and Meredith Miller acquired the nearly 10.7-acre spread from Amanda Patterson.

The deal is financed with a 30-year loan of $800,000 from Encore Bank.

Patterson purchased the residence for $725,000 in May 2021 from the McMillan Revocable Trust, led by Jaycob and Ashley McMillan.

Bank Buy

Barksdale Federal Credit Union of Bossier City, Louisiana bought the 6,472-SF bank branch from HomeBank of Arkansas for $1.3 million.

The bank acquired the 0.8-acre site for $200,000 in February 2003 from Crackerbox LLC, led by Louis Gardner.