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Ashburry Apartments Visited by $18.6M Sale (Real Deals)Lock Icon

5 min read

The sale of a 216-unit apartment project in west Little Rock weighed in at $18.6 million.

WW Olympus Chenal Ltd., an affiliate of Olympus Property in Fort Worth, Texas, purchased The Ashburry at Chenal at 16401 Chenal Valley Drive.

The sellers are Thomas and Elaine Whittmann, 50 percent; S&B Chenal LLC of St. Louis, J&R Chenal LLC of St. Louis and Cordova Apartments LLC of Pensacola, Florida, about 16.7 percent each.

The deal is financed with a 10-year loan of $14 million from Berkadia Commercial Mortgage LLC of Ambler, Pennsylvania.

The 13.08-acre site was acquired for $1.3 million in February 1997 from Deltic Timber Corp. of El Dorado.

Starbucks Sale
A Starbucks in Maumelle tipped the scales at $1.65 million.

Self Properties LLC of Los Angeles bought the 105 Common Drive project from the Kushynski Family Trust of Sherman Oaks, California.

The 0.63-acre development previously was tied to a July 2007 mortgage of $1 million held by GE Commercial Finance Business Property Corp. of Bellevue, Washington.

The trust purchased the coffeehouse for $1.1 million in December 2009 from Maumelle SBU LLC, led by Gene Cauley.

KFC Land
The former site of a KFC restaurant in west Little Rock changed hands in a $1.15 million deal.

KFC Rock LLC of Edmond, Oklahoma, acquired the 0.68-acre location at 100 Markham Park Drive from Tabbassum Mumtaz of Frisco, Texas.

Mumtaz bought the property for $839,000 in May 2016 from Markham Park LLC, led by Graham Smith.

Office Transaction
A 7,076-SF office building in North Little Rock rang up a $683,500 sale.

RMG LLC, led by Randall and Ryan Roth, purchased the 9307 Maumelle Blvd. project. The seller is Tri-Tel Communications Inc., led by Robert Cassera.

The deal is funded with a five-year loan of $685,398 from Citizens Bank of Batesville. Tri-Tel acquired the 2.89-acre development for $1 million in January 2008 from K2 Properties LLC, led by William Dodgen.

Residential Acreage
An 80-acre residential tract in Maumelle shifted ownership in a transaction valued at $580,000.

Cypress Bay Development LLC, led by Ronnie Shrader, John Wright and Jack Wilson, bought the land on the east side of Milligan Drive. The seller is Country Club Development LLC, led by John Wright and Jack Wilson.

The deal is backed with a $375,000 loan from Centennial Bank of Conway. The land previously was linked with a February 2007 mortgage of $328,000 held by Allied Bank of Mulberry.

The land was purchased for $325,000 in February 2007 from Martha Kierre, 25.27 percent; Robert Vales, 20 percent; Mae Francis Gray estate, McKinley Corbin and Joseph Corbin, 6.67 percent each; Leon West, Viainna Stanley, Flora Mae Nwandei and Johnella Taylor, 4 percent each; Yvette West Jackson and Cassandra West Miller, 2 percent each; and Mary Jane Corbin, 1.12 percent.

Other owners with at least a 1 percent stake included Gerald, Robert, Latasha, William and A.J. Corbin Jr., and Michael and Calvin Green, 1.11 percent each.

Day Care Purchase
A 6,400-SF day care center in Maumelle drew a $500,000 transaction.

Little Scholars Academy of Maumelle-West Campus LLC, led by Amanda and Michael Johnson, acquired the 112 Audubon Drive project. The seller is Hayden & Co. LLC, led by Charles Watson.

The deal is financed with a three-year loan of $408,000 from Eagle Bank & Trust of Little Rock and a $100,000 loan from Hayden & Co.

The 0.95-acre development previously was tied to an August 2008 mortgage of $575,000 held by Centennial Bank.

The location was bought for $157,000 in July 2004 from Century 21 Metro Inc., led by Mary Peyton.

Sologne Manor
A 6,369-SF home in the Sologne Circle neighborhood of west Little Rock’s Chenal Valley development weighed in at $1.05 million.

Anthony and Rosanne Pignio purchased the house from Brent and Peri Gay Walker. The deal is funded with a 30-year loan of $750,000 from Bank of America in Charlotte, North Carolina.

The residence previously was linked with a June 2006 mortgage of $892,400 held by One Bank & Trust of Little Rock.

The site was acquired for $120,000 in June 2002 from Deltic Timber.

River Ridge Abode
A 2,872-SF home in Little Rock’s River Ridge neighborhood is under new ownership after an $855,000 transaction.

Timothy and Stephanie Keil bought the house from Jim Guy Tucker and his wife, Betty. The residence previously was tied to a March 2009 mortgage of $400,000 held by Simmons Bank of Pine Bluff.

The Tuckers purchased the 6.85-acre spread for $845,000 in September 2007 from Brian and Helen Kay.

Estates Acquisition
A 3,524-SF home in west Little Rock’s Iron Horse Estates neighborhood sold for $729,000.

Madison and Kelsey McClellan ac-quired the house from Mark and Ann Langston. The deal is backed with a 30-year loan of $583,200 from Arvest Bank of Fayetteville.

The 5-acre spread previously was linked with a June 2013 mortgage of $524,000 held by Regions Bank of Birmingham, Alabama.

The Langstons bought the property for $655,000 more than four years ago from the Diane J. Hobson Revocable Living Trust.

Heights Home
A 3,448-SF home in the Heights area of Little Rock changed hands in a $635,000 deal.

David and Brandy Hubener purchased the house from Robert and Amy Maxon. The deal is financed with a 30-year loan of $424,100 from Carroll Mortgage Group Inc. of Little Rock.

The residence previously was tied to a December 2014 mortgage of $221,107 held by First Security Bank of Searcy.

The Maxons acquired the property for $683,000 in November 2009 from Brian and Caren Norris.

Courts House
A 6,052-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development rang up a $632,000 sale.

Jessica and Kody Gaston bought the house from Ventures Trust 2013-1-11-R, an affiliate of Bank of America. The deal is funded with a $492,900 loan from BOKF of Tulsa.

The property was recovered at a $427,426 foreclosure sale in August 2016 from Jesse and Lielie Yao.

Ensbury Dwelling
A 3,800-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development drew a $545,000 transaction.

Tamara and Steven Bradford acquired the house from B&D Homes Inc., led by Ben Wiedower.

The deal is backed with a 30-year loan of $424,100 from Simmons Bank. The residence previously was linked with a January 2017 mortgage of $200,000 held by Little Rock’s Bank of the Ozarks.

The site was bought for $87,000 in November 2016 from Deltic Timber.

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