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Boyle Redevelopment Starts With $4.6M Buy (Real Deals)

3 min read

An Aloft Hotel project is trailing the $4.6 million sale of a 12-story building in downtown Little Rock.

Chi Hotel Group LLC, led by Jacob Chi, acquired the Boyle Building at 500 Main St. The seller is Main Street Lofts LLC, led by Wooten Epes.

The deal is financed with a nine-month loan of $3.2 million from IberiaBank of Lafayette, Louisiana.

The 0.19-acre development previously was tied to an August 2012 mortgage of $929,124 held by Riverside Bank of Sparkman (Dallas County).

The 0.19-acre development was purchased nearly two years ago as part of a $1.5 million deal with Lafayette Plaza LLC, led by Stephen Marks Sr.

Chick Transaction

A 4,363-SF Chick-fil-A restaurant in midtown Little Rock tipped the scales at $1.87 million.

PRG Investment Equities Ltd. of Beverly Hills, California, bought the 6201 W. Markham St. property from SPC Chick Ltd. of Dallas. SPC acquired the 1-acre location, once home to Casual Corner, for $1.28 million in March 2007.

The seller was 6201 Markham LLC, led by Jeff Yates, J.C. Halsell, Jessica Dearn-ley, Stephen Tucker and Derek Cisne.

Ten Oaks Deal

Ownership of a 10,791-SF retail project in west Little Rock was consolidated in a $345,000 transaction.

RCW Limited Partnership LLLP, led by Roger Craig Williams, purchased sole control of the Ten Oaks project at 11524 N. Rodney Parham Road.

The seller is GKJ Family Ltd., led by Gerald K. Johnson.

The 0.95-acre site was bought for $43,000 in October 1981 from Burger King Corp. of Miami.

Country Club House I

A 6,000-SF home near the Country Club of Little Rock weighed in at $1.4 million.

The Linda LaFrance Revocable Trust acquired the house from Sheila Mc-

Adams. McAdams purchased the property for $1.7 million in September 2008.

Country Club House II

A 5,128-SF home near the Country Club of Little Rock changed hands in an $850,000 transaction.

Michael and Lillian Ward bought the house from Heartland Bank of Bryant.

The deal is backed with a 30-year loan of $325,000 from IberiaBank Mortgage Co. of Little Rock and a 20-year loan of $180,000 from IberiaBank.

The bank recovered the property from David and Susan Matthews at a $750,000 foreclosure in March 2013.

The bank landed a judgment of $844,452 in March 2013 on a loan that originally totaled $918,000.

PV Residence

A 5,734-SF home in west Little Rock’s Pleasant Valley neighborhood rang up a $600,000 transaction.

Thomas L. Jones purchased the house from the Hill Revocable Trust 1, led by Cheryl Talkington.

The deal is funded with a 30-year loan of $600,000 from Morgan Stanley Private Bank of Mount Laurel, N.J.

The residence previously was linked with an October 2008 mortgage of $200,000 held by Regions Bank of Birmingham, Alabama, and a February 2009 mortgage of $398,700 held by Centennial Bank of Little Rock.

The property was acquired for $535,000 in August 2001 from Leo and Joan Roepke.

Cliffewood Abode

A 3,108-SF home in the Cliffewood neighborhood of Little Rock sold for $585,000. David and Barbara Pryor bought the house from Lillian and Michael Ward.

The residence previously was tied to a March 2009 mortgage of $248,798 and a July 2010 mortgage of $100,000 held by Bank of America in Charlotte, North Carolina.

The property was purchased for $199,000 in April 2003 from Shirley E. Jones.

Rowan Park Loan

The owner of a 72-unit apartment project in west Little Rock landed a $6.25 million funding agreement.

Rowan Park at Kanis LLC, led by Jacob Chi, obtained the 10-year loan from Malvern National Bank.

The 6.7-acre development at 1000 Kirby Road previously was linked with a November 2010 mortgage of $3.87 million held by IberiaBank.

The location was acquired for $453,000 in August 2010 from Roy and Jennifer Stephens.

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