Chenal Woods Condo Transaction Tops $7M (Real Deals)

Chenal Woods in west Little Rock.

Forty-six condos in west Little Rock tipped the scales at $7.05 million.

Catalyst Chenal LLC, an affiliate of RPD Catalyst of Los Angeles, purchased the units in the Chenal Woods project at 412 Chenal Woods Drive. The seller is Sixth Hole Condos at Chenal LLC, led by Henry Jordan Sr. and Jr., Bek Kaiser III and Willis Smith.

The deal is backed with a five-year loan of $7.2 million from First Security Bank of Searcy.

The 4.68-acre development previously was tied to a September 2007 mortgage of $19.5 million and a December 2011 mortgage of $545,000 held by First Security.

The site was bought for $2.8 million in June 2007 from Deltic Timber Corp. of El Dorado.

Retail Acquisition

A 42,980-SF retail center in west Little Rock weighed in at $6.42 million.

Rock Creek Square LLC, an affiliate of Tulsa’s Precision Equity, acquired its namesake project at 12111 W. Markham St.

The seller is Barrington Rock Creek Ltd., an affiliate of Cooper Realty Investments of Rogers.

The deal is financed with a 10-year loan of $5 million from Little Rock’s Bank of the Ozarks.

The 4.15-acre development previously was linked with an October 2007 mortgage of $3.27 million held by Lincoln National Life Insurance Co. of Fort Wayne, Indiana.

The project was purchased for nearly $5.4 million in November 1998 from Bailey’s Rock Creek Square LLC, led by John Bailey.

Office Sale I

A 7,400-SF office building in west Little Rock changed hands in a $1.3 million deal.

12814 Cantrell Road LLC, led by Sharon Adkins, sold its namesake project to 12814 Holdings LLC of Orlando, Florida.

The deal is funded with a 20-year loan of $1 million from First Security Bank.

The 1.63-acre location was acquired in July 2002 as part of a $1.3 million deal with Real Practices Inc., led by Jim Knight.

Medical Land

A 1-acre commercial site in North Little Rock sold for $417,000.

Arkansas Specialty Partners LLC, led by Dr. Gordon Newbern, bought the land near the northwest corner of Smokey Lane and Springhill Drive. The seller is Woodcrest Co. LLP, led by James P. Matthews.

The deal is backed with a six-month loan of $312,750 from Arvest Bank of Fayetteville.

The property previously helped secure a string of mortgages held by Centennial Bank of Conway, including July 2014 mortgages of $10.6 million and $3.2 million.

The land was part of the 400-acre Springhill Farm the Matthews family purchased in August 1959.

John and Martha Matthews purchased it from Fred and Katherine Watkins for $250,000.

Liquor Acquisition

A 5,126-SF liquor store in North Little Rock is under new ownership after a $400,000 deal.

Gurav LLC, led by Kulwinder Kaur, acquired the Neighborhood Wine & Spirits at 4526 Camp Robinson Road from Douglas and Judith McDowall.

The McDowalls financed the entire transaction.

The 0.41-acre property was bought for $95,000 in May 1991 from Levy First Pentecostal Church.

Office Sale II

A 7,341-SF office building in downtown Little Rock rang up a $335,000 sale.

Hope Korean United Methodist Church purchased the 915 North St. project from BDC General Partnership, led by Thomas Babb.

The deal is financed with a three-year loan of $175,000 from First Arkansas Bank & Trust of Jacksonville.

The 0.39-acre property was acquired for $75,000 in April 1993 from International Computer Systems Inc., led by William Dunkum.

Office Sale III

A 3,825-SF office building in downtown North Little Rock drew a $300,000 transaction.

Summerwood Partners LLC, led by Douglas and David Hendrix, bought the 600 W. Fourth St. project from William S. & M. Harriet Robinson Family Trust.

The 0.61-acre development previously was tied to May 2003 mortgages of $60,000 and $100,000 and an October 2006 mortgage of $131,167 held by Arvest Bank.

The property was purchased for $33,675 in June 1983 from the city of North Little Rock.

Jacksonville Buy

An 8,650-SF office-warehouse in Jacksonville changed hands in a $245,000 deal.

Xpress Media Blasting LLC, led by John Barber, acquired the 1106 Redmond Road project from Bank of Little Rock.

The deal is funded with a five-year loan of $220,500 from the bank.

Bank of Little Rock recovered the 0.62-acre development in lieu of foreclosure in July 2009 from Arkansas Baseball Clinic Inc., led by Lynn Hatcher.

The property was linked with an August 2000 mortgage of $145,000 and a March 2003 mortgage of $162,500 held by the bank.

PV Manor

A 6,151-SF home in west Little Rock’s Pleasant Valley neighborhood tipped the scales at $1.3 million.

Shashwat and Falguni Goyal purchased the house from Phil and Annette Herrington. The deal is financed with a seven-year loan of $1.1 million from Capital Bank of Little Rock.

The residence previously was tied to a September 2009 mortgage of $1.1 million held by One Bank & Trust of Little Rock that was assigned in succession in October 2014 to James H. Cone Ltd., led by James Cone Jr., and First Security Bank.

The property also was linked with an August 2015 mortgage of $315,934 held by Security Bank of Stephens (Ouachita County) and an April 2014 mortgage of $481,462 held by Allied Bank of Mulberry.

The Herringtons acquired the property for $98,000 in November 1984 from Joe Edd Hawkins and his wife, June.

The Herringtons added a sliver of land in June 2007 in a $20,000 deal with the Moore Family Trust, led by Thomas and Scarlett Moore.

Sezanne Abode

A 5,197-SF home in the Sezanne Court neighborhood of west Little Rock’s Chenal Valley development sold for $679,500. Fred Pruss Jr. and his wife, Molly, bought the house from William and Mary Gulasey.

The deal is funded with a 30-year loan of $543,600 from Bank of England. The residence previously was tied to a June 2013 mortgage of $370,000 and a March 2015 mortgage of $150,000 held by Arvest Bank.

The location was purchased for $87,000 in August 2012 from T-1 Construction Inc., led by Troy Powell.

Margeaux House

A 5,234-SF home in the Margeaux Place neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $642,000 deal.

Fred and Linda Prior acquired the house from Michael and Pamela Speraw. The deal is backed with a 15-year loan of $513,600 from Bank of America in Charlotte, North Carolina.

The residence previously was linked with a May 2010 mortgage of $300,000 held by American Internet Mortgage Inc. of San Diego.

The Speraws bought the property for $512,000 in April 2003 from Billy Hartness Construction Co.

Rural Residence

A 4,881-SF home near Pinnacle Mountain State Park in west Pulaski County rang up a $640,000 sale.

Andrew and Lindy Smith purchased the house from John and Michelle White.

The property previously was tied to a January 2010 mortgage of $320,000 held by Bank of Little Rock Mortgage Corp. and a July 2015 mortgage of $150,000 held by Arvest Bank.

The Whites acquired the property for $589,000 in November 2004 from the Chester A. Westergard & Linda R. Westergard Joint Revocable Trust.