Westland Heights Apartments at 418 Markham Mesa Drive in Little Rock.
A foreclosed apartment project in west Little Rock resold for $5.1 million.
Westland Redevelopment LLC of Addison, Texas, bought the 258-unit Westland Heights Apartments project at 418 Markham Mesa Drive. The seller is SBC 2013 1 REO 106440 LLC, an affiliate of Ellington Management Group of Greenwich, Connecticut.
The deal is financed with a three-year loan of $6 million from American Bank of Commerce of Wolfforth, Texas.
SBC 2013 1 REO recovered the 13.27-acre development in January at a $5.5 million foreclosure sale.
The property was tied to a December 2014 judgment of $6.3 million against Westland Apartments Ltd., led by David Henry.
Stone Links Land
More than 600 acres and the Stone Links Golf Course in North Little Rock are under new ownership after a $1.73 million sale.
Faulkner Lake 391 LLC, led by Tom Salmon, purchased the land and the 161-acre golf course on the east side of Hwy. 391 along Faulkner Lake Road. The seller is Quapaw Development Co. and Quapaw Golf Links Inc., both led by Darrell Bean.
The property secured an October 2012 mortgage of $1.1 million held by Centennial Bank of Conway and helped secure an April 2010 mortgage of $1.8 million held by Chambers Bank of Danville.
The Stone Links development and adjoining undeveloped acreage were bought for $2.27 million in October 1997 from a different version of Quapaw Development Co., led by Bill Donnell and Robert Connells.
| Seven-Digit Construction | |
| Children’s House | $7,000,000 |
| 35,000-SF child abuse support and treatment facility | |
| 1210 Wolfe St., Little Rock | |
| Alessi Keyes Construction Co., North Little Rock | |
| 25,000-SF Office Building | $4,500,000 |
| 1400 Kirk Road, Little Rock | |
| Clark Contractors LLC, Little Rock | |
| 3-D Surgical Nursing Unit | $1,543,706 |
| 1 Children’s Way, Little Rock | |
| Nabholz Construction Corp., Conway |
WLR Property
A 12.7-acre mixed-use tract in west Little Rock changed hands in an $850,000 transaction.
Kanis Pride LLC, led by Graham Smith, acquired the undeveloped land at the northwest corner of Kanis and Pride Valley roads from the Paul A. Pride Revocable Trust.
The deal is funded with a two-year loan of $1 million from Little Rock’s Bank of the Ozarks.
The Pride family’s ownership of the property dates back to May 1950 in a transaction of unspecified value. The seller was William Frederick Booker et al.
Storage Sale
A 107-unit mini-storage project in North Little Rock sold for $382,500.
Arkansas Storage Centers III LLC, led by Stuart Finley, bought the 10056 U.S. 165 project. The seller is NLR Security Storage LLC, led by Deidre and Chris Carlin.
The deal is backed with a $306,000 loan from Centennial Bank.
The 5.65-acre property previously was tied to a February 2004 mortgage of $46,150 held by Regions Bank of Birmingham, Alabama, and a May 2008 mortgage of $472,190 held by Bancorp-South Bank of Tupelo, Mississippi.
The property was assembled in two transactions totaling $164,000. The sellers were Joan and Brant Foster, $43,000 in February 2004; and D&B Commercial Park LLC, led by James Dietz, $121,000 in February 2006.
Baseline Exchange
A 3.94-acre commercial development in southwest Little Rock drew a $150,000 transaction.
Liquor Exchange Inc., led by Clomer Young, purchased the Baseline Motors project at 5808 Baseline Road from Lillie Mae Davis.
The deal is financed with a five-year loan of $120,000 from IberiaBank of Lafayette, Louisiana.
The property was bought for $16,000 in March 1960 from A.D. and Clara Pike.
High-Rise Home
A 2,783-SF condominium in downtown Little Rock tipped the scales at $1.39 million.
Brad and Amy Baltz acquired the 16th-floor unit in the 300 Third Tower from Madison and Suzanne Murphy.
The deal is funded with a five-year loan of $1.2 million from First Security Bank of Searcy.
The Murphys purchased the space for $729,000 in November 2006 from 300 Third LLC, led by Jimmy Moses and Rett Tucker.
Carmel Residence
A 5,174-SF home in west Little Rock’s Carmel neighborhood rang up a $775,000 sale.
Greg Cunningham and Chris Valentine bought the house from the Ed D. Ligon Jr. Revocable Family Trust.
The deal is backed with a 30-year loan of $620,000 from IberiaBank Mortgage Co. of Little Rock.
The Ligons acquired the 3.59-acre property for $120,000 in March 1988 from Western Little Rock Co., led by Floyd Fulkerson.
Hillcrest House
A 3,788-SF home in Little Rock’s Hillcrest area is under new ownership after a $695,000 transaction.
Lee and Ashley Moore purchased the house from Rodney and Ayasha Thomason.
The residence previously was linked with a January 2014 mortgage of $235,000 held by Simmons First National Bank of Pine Bluff.
The Thomasons bought the property for $650,000 16 months ago from Lee and Kristina Raley.
Overlook Abode
A 3,375-SF home in Little Rock’s Overlook Park neighborhood changed hands in a $515,000 sale. Casey Hutto acquired the house from Richard Thalheimer and Joan Thalheimer Nafe.
The deal is financed with a 30-year loan of $412,000 from Bank of Little Rock Mortgage Corp. and a $50,000 loan from Simmons First National Bank of Pine Bluff.
The Thalheimer family purchased the location for $14,000 in April 1971 from Pfeifer Development Co., led by Eugene Pfeifer Jr.
Retail Refinance
Two retail projects in west Little Rock were used to secure a $21.6 million financial package.
Bowman Station Properties LLC and Chenal Place Properties LLC, both led by C.J. Cropper, Willis Smith and Bek Kaiser, obtained the loan from Starwood Mortgage Capital LLC of Miami Beach, Florida.
The 92,620-SF Chenal Place Shopping Center at 12305 Chenal Parkway previously was tied to a May 2005 mortgage of $14 million made through the New York office of Deutsche Bank.
The 9.93-acre property was bought in November 1998 as part of a $3.45 million deal with the Roman Catholic Diocese of Little Rock.
The 60,150-SF Bowman Station Shop-ping Center at 809 S. Bowman Road previously was linked with a May 2005 mortgage of $8.5 million also made through the New York office of Deutsche Bank.
The 5.94-acre property was assembled in four transactions totaling $1.8 million. The sellers were Houston and Emogene Nutt, $566,000 in February 1998; George Haville, $425,000 in December 1997; Robert and Donnie Boyd, $410,000 in October 1997; and Odelle Thomas Morris, $400,000 in December 1997.
Inn Financing
A 70-room hotel in west Little Rock is securing a $5.6 million funding agreement.
Hanuman Hospitality LLC, led by Feroz and Komal Patel, received the loan from First State Bank of Warren.
The La Quinta Inn at 9 Crossings Court previously was tied to a May 2013 mortgage of $5.2 million held by the bank.
Hanuman acquired the 1.84-acre site for $600,000 in August 2010 from Shackleford Crossings LLC, led by Timothy Buss, the court-appointed receiver for the Shackleford Crossings project.
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