Highland Pointe Moves In $32.4M Transaction (Real Deals)


Highland Pointe Moves In $32.4M Transaction (Real Deals)
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A 216-unit apartment complex in west Little Rock tipped the scales at $32.4 million.

Nineteen limited liability companies, affiliates of Canyon View Capital in Santa Cruz, California, purchased Highland Pointe Apartments at 5500 Highland Drive.

The seller is West LR Highland Pointe Associates LLC, an affiliate of Maxus Properties in North Kansas City, Missouri.

The deal is funded with a 10-year loan of $19.6 million from Grandbridge Real Estate Capital LLC of Atlanta.

The 13.51-acre site was acquired for $1.05 million in January 2004. The sellers were Pfeifer Family Ltd. No. 2, led by Gene Pfeifer, $848,000; and James Hathaway Jr. and his wife, Gay, $212,000.

Autumn Park

The 184-unit Autumn Park Apartments complex in Little Rock weighed in at $8.9 million.

43 Warren Drive LLC of Brooklyn, New York, bought its namesake address from Bloom Management Inc., led by Melba Marshall.

The deal is backed with a two-year loan of $7.4 million from Lima One Capital LLC of Greenville, South Carolina.

The 10.28-acre former Huntington Place Apartments development was purchased in December 2006 at a $2.8 million foreclosure sale. The project was owned by TUP III Ltd. of Atlanta.

Lamb Warehouse

A 154,800-SF former Windsor Door warehouse in Maumelle changed hands in a $3.7 million deal.

100 Murphy Drive LLC, led by Kevin Huchingson, sold its namesake address to KLLWRECO LLC, led by Kyle Lamb and Laurie Lamb Whitfield. 

The 20.24-acre development was bought in November 2005 as part of a $3.2 million deal with Maumelle Ltd., led by Henry F. Miller.

Regal Transaction

A 55-room motel and an adjoining 5.88-acre parcel in North Little Rock rang up a $1.97 million sale.

Jalaram Prontho LLC, led by Hemins Patel, purchased the Regal Inn at 2508 Hwy. 161.

The seller is Jhankhana Inc., led by Kailashben Patel, which provided a 20-year mortgage of $1.6 million to finance the deal.

Jhankhana acquired the 2.38-acre motel development and land for $900,000 in July 2011 from Community South Bank Small Balance Loan Master Trust 2007-01 of Knoxville, Tennessee.

Medical Office

A 6,100-SF dental office building in west Little Rock drew a $1 million transaction.

LM & SA LLC, led by Stephen Leek, bought the 11811 Hinson Loop Road project from Mel and Sheri Collazo. The deal is funded with a $600,000 loan from Centennial Bank of Conway.

The Collazos purchased the 0.52-acre development for $497,000 in June 1997 from ASA Properties Ltd., led by Walter Ramsey Jr. and Donald Mowery.

Riverdale Office

A 3,888-SF office building in Little Rock’s Riverdale area sold for $925,000.

Mothership LLC acquired Riverside Design & Antiques at 1408 Rebsamen Park Road from Kaki and Max Mehlburger and Kirby Whetstone.

Mothership investors are the William Joseph Roehrenbeck Revocable Trust; Desselle Family Revocable Trust, led by Susan and Michael Desselle; John & Jennifer Newbern Family Trust; and Marsh Parkey Group LLC, led by Christopher Marsh.

The deal is backed with a five-year loan of $786,250 from Arkansas Bank & Trust of Jacksonville.

The 0.33-acre development was bought for $375,000 in April 2005 from 1408 Rebsamen LLC, led by Gene Cauley.

Joshua Building

A 22,760-SF office building in Little Rock is under new ownership after a $385,000 transaction.

Kustommade Properties LLC, led by Robert Alexander, purchased the Joshua Building at 2501 State St. from Haybar Properties LLC, led by Bryan Hosto.

The deal is financed with a one-year loan of $308,000 from First Service Bank of Greenbrier.

Haybar acquired the half-acre development for $100,000 in December 2014 from JM-Ark Acquisition LLC of White Plains, New York.

Industrial Land

A 2-acre industrial site in east Little Rock changed hands in a $160,000 deal.

Brickbat Inc., led by David Garner, bought the land on the east side of Fairpoint Avenue.

The seller is Creative Engineering Consultants Corp., led by Mike Winn.

Creative Engineering purchased the property in June 2019 as part of a $395,000 deal with Diversified Management Group LLC, led by Charles Cummings.

Heights Home

A 4,803-SF home in the Heights area of Little Rock tipped the scales at $1.7 million.

Frank Kumpuris and Anjuli Koshal acquired the house from Jeff Fuller Homes LLC.

The deal is backed with a 30-year loan of $1.1 million from Regions Bank of Birmingham, Alabama.

The location was bought for $415,000 in December 2020 from Susan Bowman.

River Club

A 5,400-SF home in the River Club neighborhood near Pinnacle Mountain State Park weighed in at $1.23 million.

Michael Cumming purchased the 5-acre spread from Alan and Katherine Barksdale. The deal is financed with a 30-year loan of $984,000 from Chambers Bank of Danville.

The Barksdales acquired the residence for $1.1 million in November 2021 from Timothy and Drew Files.

Paradise Purchase

The Chad Baker & Kelly Baker Living Trust bought a 4,421-SF home for $1.32 million in the Paradise Lane neighborhood of west Pulaski County from Karen and Gary Mueller.

The Muellers purchased the 15-acre spread for $915,000 in May 2019 from Bill Nowlin and Cheryl Avants.