The Wellington at Chenal Sells for $23.6M

15000 Chenal Parkway LLC, an affiliate of CALCAP Advisors in Pasadena, California, bought its namesake address in west Little Rock  for $23.6 million.

The Wellington at Chenal, a 176-unit apartment complex, was sold by Wellington Acquisition LLC, an affiliate of Maxus Properties in North Kansas City, Missouri.

New Main Street Faces

Did you know that two prominent redevelopments in downtown Little Rock sold in tandem deals totaling more than $10.3 million? Related investments groups teamed up to buy the mixed-use 41,816-SF Arkansas Building at 524 Main St. and 21,000-SF Arkansas Annex at 514 Main St., home to 30 apartments upstairs and ground floor office space, for $6.9 million.

Other limited liability companies, also led by Solomon Leftin and affiliated with Equity Partnership Holdings of Denver, acquired the 30-unit Mulberry Flats apartment project, also home to Brewski’s Pub & Grub, at 315 Main St. for nearly $3.5 million.

Mixed in at no valuation was the purchase of the 56,000-SF M.M. Cohn Building at 510 Main St.

Sellers: Main Street Lofts South LLC, K Lofts LLC and Deep Creek LR LLC, led by Bryan Pereboom, Jacob Spellmeyer and Victor Pereboom.

You might recall the projects were the handiwork of developer Scott Reed of Portland, Oregon, remembered for his mismanaged Little Rock projects.

Pool Party

Children’s Therapy TEAM paid $5.8 million for its aquatic center in Bentonville.

The organization, an outpatient therapy provider for children, was founded by Kym Hannah and Cindy Watson in 2000. The 30,636-SF center is on SE 28th Street and sits on nearly 4 acres.

Hannah and her husband, Kevin, bought the property through their Children’s Therapy Services Inc. subsidiary. 

The seller was MLC Inc. of Bentonville, led by Ann Bogle McKenzie. McKenzie is the daughter of the late Bob and Marilyn Bogle.

Bob Bogle was an early Walmart Inc. executive and prominent supporter, with his wife, of the University of Arkansas athletics program.

More Million-Dollar Transactions

► Maumelle Property Investment LLC of Chattanooga sold its 70-unit convalescent hospital at 103 Alexandria Road in Maumelle for more than $6 million.

Who bought The Lakes at Maumelle? Gar Co Re LLC, an affiliate of Reliance Health Care in Conway.

►  Robert Johnston Jr. and his wife, Valerie, acquired a 2,676-SF Slim Chickens at 18070 John Harden Drive in Jacksonville for nearly $3 million.

Seller: Haag-Brown Encore Holdings LLC, led by Greg Haag.

►  Lyndle and Heather McCurley sold a 6,960-SF commercial project at 4530 E. McCain Blvd. in North Little Rock, home to Gamestop and Great Nails, for $1.7 million.

The buyer was Osceola Enterprises of Kissimmee Inc. of Windermere, Florida.

►  Nolan and Barbara Rushing bought a 4,173-SF home in Little Rock’s Riverview Manor neighborhood from the Donna Kay Clark Trust for more than $1.6 million. 

►  Commreal LLC, led by Clinton Bennett, sold a 0.89-acre former Regions bank branch site at 8023 Cantrell Road in Little Rock for more than $1.3 million.

Buyer: TWCS Properties LLC, led by Thomas Schmidt.