(This article has been clarified since its original publication. See end for details.)
A North Little Rock psychiatric hospital weighed in at $17.3 million.
Bridgeway Inc., an affiliate of Universal Health Services Inc. of King of Prussia, Pennsylvania, purchased its namesake 62,140-SF complex at 21 Bridgeway Road.
The seller is Universal Health Realty Income Trust, also of King of Prussia, a UHS spinoff from 1987.
UHRIT acquired the 17.89-acre development for $5 million in December 1986 from Qualicare of Arkansas Inc. of Metairie, Louisiana.
The transaction has had no effect on management or operation of the hospital, according to CEO Jason Miller.
Bowling Acquisition
A west Little Rock bowling project scored a $3.02 million transaction.
Jeanette and David Gibson bought the 49,100-SF Professor Bowl complex at 901 Towne Oaks Drive from PB Towne Oaks LLC, led by Rick Thone.
The deal is backed with a $3 million mortgage provided by the limited liability company.
PB Towne Oaks entered the ownership picture of the 3.49-acre development in May 2008. Southway Corp., led by Newman McGee, forfeited the property in lieu of foreclosure.
The Professor Bowl project helped secure two September 2006 mortgages that originally totaled $6.2 million. PB Towne Oaks purchased the mortgages nearly seven years ago from BLX Capital LLC of New York.
Office Transaction I
A 7,605-SF medical office building in west Little Rock tipped the scales at $1.6 million.
DC Autumn LLC, led by John Hathaway, acquired the 600 Autumn Road project. The seller is South Central Management Services LLC, led by Jett Harris.
The deal is funded with a 20-year loan of $1.27 million from BancorpSouth Bank of Tupelo, Mississippi.
The 1.07-acre development previously was tied to a November 2013 mortgage of $960,000 held by First Western Bank of Booneville.
South Central bought the property for $1.2 million 16 months ago from the Drs. Rob L. & Angela H. Barrow LLC.
Office Transaction II
A 10,800-SF office building in west Little Rock is under new ownership after a $945,000 sale.
Girl Scouts-Diamonds of Arkansas, Oklahoma & Texas purchased the project at 11311 Arcade Drive from its namesake owner.
Arcade Building LLC is led by James Carney Jr. and Hank Bates. The 0.57-acre development previously was linked with a May 2013 mortgage of $700,000 held by BancorpSouth Bank.
The property was acquired for $900,000 in August 2008 from GAB LLC, led by Gene Cauley.
Land Purchase
An 8.12-acre commercial parcel in west Little Rock changed hands in a $748,703 transaction.
The KOLP Irrevocable Trust bought the land near the northeast corner of Autumn Road and Financial Centre Parkway.
The seller is Iron Horse Estates Partnership, led by Fletcher Clement.
Iron Horse purchased the property for $157,000 in May 1989 from David and Regina Kennedy.
Rural Retail
A 4,180-SF convenience store-restaurant in west Pulaski County rang up a $730,000 sale.
Sulatana’s Property LLC, led by Kammarsultana Pabani, acquired the
Bear Creek Country Store. The seller is Ferndale Investments LLC, led by Issa Kassissieh.
The deal is financed with a five-year loan of $585,000 from Malvern National Bank.
The 2.9-acre development previously was tied to an August 2009 mortgage of $405,600 held by Simmons First National Bank of Pine Bluff.
The property was bought for $507,000 more than five years ago from Ferndale Development Group LLC, led by Steven Lahodny.
Million-Dollar Construction
Renovation & Expansion $4,000,000
21 Bridgeway Road, North Little Rock
DeAngelis Diamond Construction Inc., Naples, Florida
Del Frisco’s Grille $2,500,000
17707 Chenal Parkway, Little Rock
RCC Associates Inc.,Deerfield, Florida
4,700-SF Home $1,000,000
4605 Crestwood Drive, Little Rock
Fred Lord Builder Inc., Little Rock
Multifamily Sale I
A 10-unit apartment project in the Hillcrest area of Little Rock drew a $695,000 transaction.
McRodgers Enterprises LLC, led by Eric McDaniel and Chad Rodgers, purchased the Marylane Apartments at 2101 Kavanaugh Blvd. The seller is Kavanaugh Place LLC, led by Joi Whitfield.
The deal is backed with a five-year loan of $556,000 from IberiaBank of Lafayette, Louisiana.
The 0.3-acre development previously was linked with an August 2009 mortgage of $462,000 held by Little Rock’s Bank of the Ozarks.
Kavanaugh Place acquired the project for $462,000 more than five years ago from S&A Properties LLC, led by Sharon Adkins.
Hillcrest Commercial
A 4,691-SF commercial building in the Hillcrest area of Little Rock sold for $350,000.
Homayoun Hamidian and Maria Beristain-Flores bought the Hillcrest Dog House at 3924 W. Markham St. from Koberg Co. LLC, led by Rod Koberg.
The deal is funded with a five-year loan of $297,500 from the Bank of Little Rock. The 0.17-acre development previously was tied to a June 2006 mortgage of $300,000 held by the bank.
Koberg purchased the property for $185,000 in June 1987 from Kathleen Tadlock and Carolyn O’Cain.
Charitable Business
Two nonprofits were on either side of a $245,000 deal in downtown Jacksonville.
Pathfinder Inc., led by Joan Zumwalt, acquired the 209 S. Oak St. project from the Salvation Army.
The 0.65-acre property was bought for $80,000 in November 1982 from the Roman Catholic Diocese of Little Rock.
Multifamily Sale II
A 12-unit apartment project in Jacksonville is under new ownership after a $190,000 sale.
BG & FG Properties LLC, led by Bryan and Faith Grigsby, purchased the property at 2206 Chapel Hill Road.
The seller is Geo I LLC, led by the Doris R. George Revocable Trust and the J.C. George Revocable Trust. The deal is backed a five-year loan of $190,000 from Arvest Bank of Fayetteville.
The 0.65-acre development was acquired for $199,000 in December 1987 from Paul Blasingame and Harold and Angeletta Parker.
Hallen Court Abode
A 5,568-SF home in the Hallen
Court neighborhood of west Little Rock’s Chenal Valley development changed hands in an $800,000 transaction.
Kingsley Glasgow bought the house from Gerald and Catherine Martindill.
The deal is funded with an $855,774 loan from Bella Casa LLC, led by Skip Davidson.
The residence previously was linked with a February 2014 mortgage of $140,000 and a July 2014 mortgage of $60,000 held by the Bank of Little Rock.
The Martindills purchased the site for $166,000 in April 2013 from Deltic Timber Corp. of El Dorado.
Sorrells Home
A 4,116-SF home in the Sorrells Road neighborhood of west Little Rock rang up a $741,100 sale.
Kurt and Erin Cosse acquired the house from Kent and Melissa Sorrells.
The property was bought in August 2003 as part of a $775,000 deal with Barry Sorrells.
Chenal Circle House
A 3,981-SF home in west Little Rock’s Chenal Circle neighborhood drew a $510,000 transaction.
The Angela Moody Revocable Trust purchased the house from Marilyn Robison.
The residence previously was tied to a September 2012 mortgage of $249,200 held by Iberia Mortgage Co. of Little Rock.
The property was acquired for $470,000 in August 1998 from Curtis Lowery Jr. and his wife, Ellen.
Apartment Financing
Construction of 108 apartments in Maumelle is in motion with a $10.5 million funding agreement.
The Villa At River Pointe Drive Land Phase II LLC, led by Edward and Christopher Blake Jackson, received the three-year loan from First Security Bank of Searcy.
The 5.82-acre site on the west side of Counts Massie Road at River Pointe Drive was assembled as part of five deals totaling $241,000.
The sellers were William and Janet Watkins, $65,000 in March 1998; John and Mary Trawick, $20,000 in March 1998; the estate of Reva Langrell, $78,000 in September 1998 and $15,000 in November 1998; and Sandra Ballew, $63,000 in February 2013.
(Clarification, May 7, 2015: Because some readers were apparently confused by the sale of The BridgeWay among related entities, CEO Jason Miller’s statement that management and operations were not affected has been added.)
Sign up for Daily E-news
