Icon (Close Menu)

Logout

Blandford Medical Building Visited by $7.4M Sale (Real Deals)Lock Icon

5 min read

A 67,680-SF medical office building in midtown Little Rock tipped the scales at $7.4 million.

5 Little Rock Properties-Blandford LLC, an affiliate of Catalyst Healthcare Real Estate of Pensacola, Florida, bought the Blandford Medical Building at 5 St. Vincent Circle.

The sellers are the following:

  • Doc-5 St. Vincent Circle MOB LLC, an entity related to the buyer, $2.8 million;
  • BRSH Properties LLC, led by Dr. Scott Bowen, $860,364;
  • BL410 LLC, led by Bowen, $573,443; H&B LLC, led by Dr. William Hefley and Bowen, $536,375;
  • Dr. Carol Chappell, $415,155;
  • BAT Investments LLC, led by Brad Thomas, $371,676;
  • H&L Realty LLC, led by John Chakales II, $337,000;
  • Mocktooth LLC, led by Brock Martin, $273,917;
  • Thomas Stinnett, $267,700;
  • Blandford Building Property Owner’s Association, led by Brad Thomas, $261,331;
  • Katherine Baltz and David Rozas, $214,715;
  • The Jessica & Rebecca Flake Trust, Ronald E. Tabor Share No. 2 Trust, led by Scott Tabor, $151,855
  • Kelley Family Annual Gift Trust, led by Hank Kelley, $151,855

The project is helping secure a $111 million funding agreement administered by Capital One of McLean, Vir-ginia. The 2.7-acre site is leased from St. Vincent Infirmary Medical Center.

The limited partnership that developed the project in 1984 originally was composed of John Flake, Larry Wallace, Sheffield Nelson, Edward Penick Jr., M.R. Godwin, Jerry Maulden, Ron Tabor, Michael Waddington, David J. Jones, Pat Morrison and David McCreery.

Multifamily Buy

An 84-unit apartment project in downtown Little Rock weighed in at $2.95 million.

McGowan Street Apartments LLC of Cincinnati, acquired Barrister Court Apartments at 1016 McGowan St. from Barrister-College View Properties LLC, led by Keith Johnson.

The deal is backed with a three-year loan of $2.5 million from CFBank of Worthington, Ohio.

The 0.75-acre development previously was tied to a May 2008 mortgage of $1.2 million held by Centennial Bank of Conway.

The property was bought for $3.1 million more than 11 years ago from M&R Development LLC, led by Michael and Rhonda Wood.

Convenient Land

A Circle K convenience store development is in motion after a $1.19 million land deal in North Little Rock.

NLA Northshore CK LLC, an affiliate of Net Lease Alliance of Nashville, Tennessee, purchased the 1.89-acre site at the southwest corner of Northshore Drive and Crystal Hill Road.

The seller is Pfeifer Family Ltd. No. 1, led by Gene Pfeifer. Construction is financed with a three-year loan of $3.8 million from Valley National Bank of Birmingham, Alabama.

The land is part of a 600-acre tract along the Arkansas River near the southeast corner of Interstate 430 and Crystal Hill Road that the limited partnership acquired in May 2000 for $2.1 million.

The sellers were Karen Smith Riecke and North Shore Ltd., led by Harold Ten-enbaum.

Parcel Purchase

A 16.3-acre parcel in northwest Pulaski County rang up a $684,375 sale.

Holsted Ashley Group LLC, led by Todd Ashley, bought the land near the northeast corner of Ashley Road and Highway 365. The seller is the James Living Trust, led by Willis and Gail James.

The deal is funded with an 18-month loan of $467,978 from Gateway Bank of Rison. The property was assembled in three buys totaling $273,000.

The sellers were Rosie Leece and Helen Zawislak, $9,000 in March 1971; Cora Halliburton, $79,000 in October 1984; and Werner Enterprises Inc. of Omaha, Nebraska, $185,000 in May 2015.

Maumelle Property

A 2.62-acre commercial property in Maumelle drew a $286,250 transaction.

D&B Hospitality LLC, led by Dilip and Bhavna Patel, acquired the land and 4,428-SF office building at 14421 Frontier Drive from Billie Graham.

The deal is backed with a five-year loan of $229,000 from Little Rock’s Bank OZK. The land previously was linked with a July 2018 mortgage of $239,200 held by IberiaBank of Lafayette, Louisiana.

Graham bought the property in July 2018 as part of a $299,900 deal with Iraq Rovnaghi and Pegah Deheshmand.

Site Sale

A 2.48-acre commercial site in North Little Rock sold for $215,000.

Riverview Corporate Drive LLC, led by William Zihala, purchased the land at the west end of Riverview Corporate Drive from Justin Carmody.

The deal is financed with a one-year loan of $182,750 from First Service Bank of Greenbrier.

Carmody acquired the property for $297,000 in August 2008 from Burkhalter Haas Properties LLC, led by John Burkhalter and David Haas.

Hickory Hills

A 6,038-SF home in west Little Rock’s Hickory Hills neighborhood changed hands in an $825,000 transaction.

The Raja Family Revocable Trust, led by Ali and Quratulain Raja, bought the house from Lorene Jones-Henderson.

The deal is funded with a 30-year loan of $835,388 from Arvest Bank of Fayetteville.

The site was purchased for $174,000 in November 1992 from Kenneth and Susan Martin.

Heights Home I

A 3,046-SF home in the Heights area of Little Rock is under new ownership after a $725,000 deal. Matthew and Brittany Marsh acquired the house from the Tommy & Carolyn Polk Revocable Trust. The deal is backed with a 30-year loan of $484,100 from Farmers Bank & Trust of Magnolia.

The residence previously was tied to a January 2017 mortgage of $344,000 held by Regions Bank of Birmingham, Alabama. The Polks bought the property for $235,000 in January 2013 from Jimmy Lasley III and his wife, Amy.

Heights Home II

A 3,402-SF home in the Heights area of Little Rock rang up a $660,000 sale.

Courtney Donner purchased the house from Jeff Fuller Homes LLC.

The deal is financed with a 25-year loan of $660,000 from Regions Bank.

The residence previously was linked with a February 2019 mortgage of $520,000 held by IberiaBank.

The property was acquired from Rebecca Pulla for $235,000 in May 2017.

PV Estates

A 4,963-SF home in west Little Rock’s Pleasant Valley Estates neighborhood drew a $540,000 transaction.

Adam Cole bought the house from Nicole Massoll and Mark Valenzuela. The deal is funded with a 30-year loan of $513,000 from IberiaBank.

The residence previously was tied to an August 2012 loan of $383,000 from by Arvest Mortgage of Lowell.

The property was purchased for $380,000 in August 2011 from Arch Bay Holdings LLC of Irvine, California.

Maisons House

A 3,407-SF home in the Maisons neighborhood of west Little Rock’s Chenal Valley development sold for $525,000.

Srinivasa and Santoshi Gokarakonda acquired the house from the Snider Family Revocable Trust, led by Randall Snider Jr. and his wife, Christina.

The deal is backed with a 30-year loan of $484,350 from Bank of Little Rock Mortgage Corp.

The residence was bought for $455,000 in September 2012 from the John Louis Strack & Patricia Rhea Strack Joint Living Trust.

The Courts

A 4,283-SF home in The Courts neighborhood of west Little Rock’s Chenal Valley development change hands in a $512,000 deal. Scottie and Amanda Taylor purchased the house from Ronald and Sharon Beggs.

The deal is financed with a 30-year loan of $460,800 held by Mortgage Financial Services LLC of Baton Rouge.

The property was acquired from Scott and Shelly Fleischauer in March 2010 for $505,000.

Send this to a friend