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Canopy Apartments Visited by $16M Sale (Real Deals)Lock Icon

5 min read

A 240-unit apartment project in west Little Rock tipped the scales at $16.67 million.

Canopy Best Living LLC of Overland Park, Kansas; NAE Canopy Apartments of Highland Park, Illinois; and Northboro QN of Boca Raton, Florida, bought Canopy Apartments at 9201 Kanis Road.

The property was owned in a 75-25 split by 9201 Kanis Canopy LLC, an affiliate of DavisRE of Dallas, and Cayman Ventures LLC of Dallas.

The deal is financed with a 12-year loan of $13.6 million from Berkeley Point Capital LLC of Lower Gwynedd, Pennsylvania.

9201 Kanis Canopy purchased the 11.24-acre development for $9.4 million in October 2017 from Out In The Woods LLLP, led by James Jackson and Haskell Dickinson II.

Circle K Purchase

A 3,360-SF convenience store in North Little Rock weighed in at $3.52 million.

The Michael Lloyd Seitz Revocable Living Trust acquired the Circle K project at 700 E. Broadway from Broadway CK LLC, led by Chris Moses.

The 0.71-acre development was bought for $3 million in June 2020 from 700 East Broadway LLC, led by John Erik Bailey.

Chase Branch

Redevelopment of a 2,941-SF restaurant in west Little Rock into a bank branch is in motion after a $2.6 million deal.

JPMortgage Chase Bank of Columbus, Ohio, purchased the former Zoe’s Kitchen from its namesake address owner, 12900 Chenal Parkway LLC of Santa Monica, California.

12900 Chenal Parkway acqauired the 0.98-acre property for $2.2 million in January 2016 from Zoe’s Arkansas LLC of Plano, Texas.

Express Clinic

A 3,530-SF clinic in Sherwood drew a $2.2 million transaction.

HCE Land LLC, led by Andrew Griffin and Roy Dixon, bought the Healthcare Express at 1554 Country Club Road. The seller is House of Sherwood LLC of Texarkana, Texas.

The deal is backed with a five-year loan of $1.8 million from Bank of Delight.

House of Sherwood purchased the 0.91-acre location for $497,000 in March 2018.

The seller was Telcoe Federal Credit Union of Little Rock.

Wild River Foreclosure

A water theme park in North Little Rock is under new ownership after a $1.52 million foreclosure sale.

JTS Capital Realty 3 LLC, an affiliate of JTS Capital Group of Waco, Texas, recovered Wild River Country at 6820 Crystal Hill Road from Aquapark Holdings LLC of West Palm Beach, Florida, led by Paul Millar and Michael Slattery of Toronto.

The 30.4-acre development was linked with more than $2 million of debt that JTS purchased from Conway’s Centennial Bank in August 2019.

Shearer Sale

A 34,960-SF warehouse in south Little Rock rang up a $665,000 sale.

OB CREI LLC, led by Richard O’Brien, acquired the Shearer Supply project at 6000 Scott Hamilton Drive.

The seller is Shearer Investments LLC of Carrollton, Texas.

The deal is funded with a 20-year loan of $665,000 from BancorpSouth Bank of Tupelo, Mississippi.

The 2.24-acre development was bought for $700,000 in June 2015 from Shollmier Family Ltd., led by Ken Shollmier.

Office Transaction

A 15,948-SF office building in southwest Little Rock changed hands in a $575,000 deal.

L&K Pride LLC, led by Laurinda Lee Chung and Kiyen Kikun Kim, bought the 8300 Geyer Springs Road project from Maurice Mahmoud.

The transaction is backed with a five-year loan of $402,500 from First Arkansas Bank & Trust of Jacksonville.

Mahmoud purchased the 0.8-acre development for $275,000 in February 2005.

The seller was the Arkansas District Council Assemblies of God.

Sherwood Property

A mix-zoned string of parcels totaling 2.59 acres in Sherwood sold for $545,000.

Senor Tequila Sherwood Inc., led by Sergio Lilano, acquired the properties that wrap around the northwest corner of Highway 107 and West Lee Ave.

The centerpiece is the 3,093-SF Godsey Cleaners-Performance Boat Works at 8213 Hwy. 107.

The seller is Godsey-Thrasher Properties LLC, led by Judith Godsey and Barbara G. Thrasher.

The deal is funded with a one-year loan of $300,000 from First Security Bank of Searcy.

The parcels were assembled in six deals totaling more than $42,500.

The sellers were Eula Worrell, $4,000 in September 1960 and $6,500 in September 1967; W.O. and Evelyn Tabor, $2,000 in August 1965; Annie Mobbs, $10,000 in February 1971; Secretary of Housing & Urban Development, an undisclosed sum in May 1984; and Bertie Mae Carlisle, $20,000 in February 1989.

Land Buy

A 1.56-acre parcel in west Little Rock drew a $400,000 transaction.

Hong Yi and Qiaoli Lei purchased the site adjoining the east side of Conner Park from 13000 Cantrell Road LLC, led by Robert Jorgensen, Rodney Breuer and Robert Harrison.

The land was acquired for $374,848 in April 2014 from Jamie and Gregory Saad.

Robinwood Residence

A 4,272-SF home in Little Rock’s Robinwood neighborhood is under new ownership after a $899,000 deal.

John Erik Bailey bought the resi-dence from the Millard Family Revocable Trust, led by Chad Millard and Glenda Fray.

The deal is financed with a one-year loan of $719,200 from Riverside Bank of Sparkman.

The trust purchased the house for $667,000 in January 2011 from Charlotte Hobbs and James Robbins.

River Crest Estates

A 5,992-SF home in Maumelle’s River Crest Estates neighborhood rang up a $797,000 sale.

Walter and Carla Justice acquired the house from Peter Nikolakakis.

The deal is backed with a 30-year loan of $510,400 from Eagle Bank & Trust of Little Rock.

Nikolakakis bought the residence for $600,000 in September 2016 from Robert and Tina Chastain.

Lamarche Place

A 4,349-SF home in west Little Rock’s Lamarche Place neighborhood changed hands in a $515,000 deal.

Glenn and Eva Larkin purchased the house from Elizabeth Bucolo.

The deal is funded with a 30-year loan of $412,000 from First Financial Bank of El Dorado.

Bucolo acquired the residence for $450,000 in April 2019 from Hamid and Saima Mumtaz.

Woodlands Edge

A 3,989-SF home in west Little Rock’s Woodlands Edge neighborhood sold for $508,000.

Blake and Natalie Bard bought the house from Timothy Whitley.

The deal is financed with a 30-year loan of $482,600 from Arvest Bank of Fayetteville.

Whitley purchased the residence for $472,000 in April 2013 from HRH Builders Inc., led by William Darby Jr.

Osage Terrace

A 3,943-SF home in Maumelle’s Osage Terrace neighborhood drew a $501,000 transaction.

LHS Family Trust, led by Lina and Harold Sharp III, acquired the house from Roy and Tammy Ephgrave. The deal is backed with a 30-year loan of $225,000 from the Bank of England.

The Ephgraves bought the residence for $463,000 in August 2018 from Summerwood Inc., led by Vikki Harris.

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