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Arkansas Urology Sales Combine for $32M Deal (Real Deals)Lock Icon

4 min read

Two Arkansas Urology projects in Pulaski County sold in tandem deals totaling $32 million.

MMAC HT II Little Rock AR LLC, an affiliate of Montecito Medical Real Estate in Nashville, Tennessee, purchased the 37,917-SF facility at 1300 Centerview Drive in west Little Rock for $25.75 million and the 15,922-SF facility at 4200 Stockton Drive in North Little Rock for $6.24 million.

The seller in both deals is Freeway Park Properties LLC, led by Tim Langford. The deal is backed with a five-year loan of $19.4 million from Synovus Bank of Columbus, Georgia.

The 8-acre west Little Rock development and 1.74-acre North Little Rock development were tied to a May 2019 mortgage of $14.2 million held by IberiaBank of Lafayette, Louisiana.

The Little Rock property was assembled as part of four transactions totaling more than $1.7 million: Westrock Partnership, led by Robert Vogel, $818,000 in December 1999; James and Jo Ann Watts, $388,000 in April 2011; the estate of Billy Bridewell, $359,000 in December 1999; and Hamilton Reid Real Estate LLC, led by Catherine Barron, $180,000 in August 2016.

The North Little Rock location was bought for $777,000 in March 2010 from Woodcrest Co. LLP, led by James P. Matthews.

Cromwell Court

A 46-unit apartment property in downtown Little Rock weighed in at $2.4 million. Cromwell Court Opportunity Fund LLC, led by Jill Judy and Mark Brown, acquired its namesake multi-building project at 507 and 511 E. Seventh St. and 514, 515, 516 and 518 E. Eighth St.

The seller is the Downtown Fund LLC, led by Mark Nichols and Charles Heinbockel. The deal is financed with a 20-year loan of $2 million from First National Bank of Paragould.

The combined 1.29-acre development was purchased in May 1999 as part of a $745,000 deal with Little Rock Restorations Ltd., led by Thomas Wilkes.

Crate Transaction

A 128,266-SF industrial complex in east Little Rock rang up a $972,000 sale.

Little Rock Crate & Basket Co., led by George Swann Jr., sold its 14-acre development at 1623 E. 14th St. to Ben Davis Properties Management LLC, led by Ben and Diane Davis.

The property was assembled in deals with Georgia-Pacific Corp. of Atlanta, $37,500 in December 1965; Bright Realty Co. of Dallas, $550,000 in November 1986; and Dudley Swann Sr. and his wife, Joann, $75,000 in February 1991.

Hillcrest Multifamily

Apartments in the Hillcrest area of Little Rock drew a $550,000 transaction.

The Reding Living Trust, led by Bradley and Holly Reding, purchased the five-unit apartment project at 1117 Kavanaugh Blvd. The seller is C.A.M. AR LLC, led by Cody and Anna McGrath.

The deal is funded with a five-year loan of $471,000 held by First Security Bank of Searcy. The 0.18-acre development was linked with a June 2016 mortgage of $395,250 held by the bank.

The property was acquired more than four years ago for $312,000 from K-ED LLC, led by Brenda and John Simmons Jr.

Hoggs Meat

The 4,889-SF Hoggs Meat Market project in North Little Rock sold for $305,000.

4520 Camp Robinson Road LLC, led by Michael Hogg, sold its namesake address to Jas & Tash LLC, led by Inderjit and Parwinder Singh.

The deal is backed with a five-year loan of $244,000 from Armor Bank of Forrest City.

The 0.53-acre property was purchased for $36,000 in January 1976 from J.D. and Armer Prowse.

Humble Crumb

A 2,937-SF day care in Sherwood changed hands in a $120,000 deal.

The Humble Crumb Bakery LLC, led by Ruth and Elizabeth Peters, bought the Kidcare Daycare project at 110 Loop Road. The seller is OMB Properties LLC, led by James and Gail Blucker.

The 0.61-acre development was acquired for $70,000 in October 1997 from Bell Inc., led by Susan Kast.

Chenal Circle

A 7,911-SF home in west Little Rock’s Chenal Circle neighborhood tipped the scales at $2 million.

John and Sandra Marshall purchased the house from the Lauren Elizabeth Landers Revocable Trust.

The deal is financed with a 24-year loan of $999,000 from Regions Bank of Birmingham, Alabama.

The residence was bought for $1.6 million in August 2013 from Steven and Janet Cathey.

Robinwood Abode I

A 4,068-SF home in Little Rock’s Robinwood neighborhood is under new ownership after a $795,000 deal.

Mary and Christian Michaels acquired the house from the Gillespie Revocable Trust, led by Cynthia and Beck Gillespie.

The deal is funded with a 30-year loan of $636,000 from U.S. Bank of Cincinnati. The residence was tied to a June 2016 mortgage of $417,000 originated by Bank of Little Rock Mortgage Corp.

The property was purchased more than four years ago from Thomas Buchanan III for $640,000.

Robinwood Abode II

A 3,659-SF home in Little Rock’s Robinwood neighborhood rang up a $545,000 sale.

Rex and Sarah DeClerk bought the house from David and Melissa Hoffmans. The deal is backed with a 30-year loan of $436,000 from Bank of Little Rock Mortgage.

The residence previously was linked with a May 2015 mortgage of $340,000 held by Franklin American Mortgage Co. of Franklin, Tennessee.

The property was acquired more than five years ago from the Patsy C. Rounsaville Living Trust for $425,000.

Foxcroft House

A 4,006-SF home in Little Rock’s Foxcroft neighborhood drew a $507,500 transaction.

Andrew and Sarah King purchased the house from Scott and Tiffani Jedlicka.

The deal is financed with a 30-year loan of $406,500 from Citizens Bank of Providence, Rhode Island.

The residence was linked with a January 2020 mortgage of $270,000 held by Wells Fargo Bank of Sioux Falls, South Dakota.

The Jedlickas bought the property for $319,000 in November 2016 from Lynda Allen.

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