Cottage Lane Sale Surpasses $14.5M (Real Deals)

Cottage Lane Health & Rehab at 800 Brookside Drive in Little Rock. (George Waldon)

A 143-unit nursing home in Little Rock tipped the scales at $14.53 million.

Brookside Drive Property LLC, an affiliate of Oasis Health Care Group of Lakewood, New Jersey, purchased Cottage Lane Health & Rehab at 800 Brookside Drive.

The seller is Cottage Lane Health & Rehab LLC, an affiliate of Dwight Capital of Sunny Isles Beach, Florida.

Brookside Drive assumed a December 2024 mortgage of $15.1 million held by Vium Capital Mortgage LLC of Columbus, Ohio.

Cottage Lane bought the 5.36-acre development for $11 million in June 2022 from SRN Properties LLC, an affiliate of Fort Smith’s Stein & Associates.

On the Border Buy

A 6,360-SF restaurant in Sherwood weighed in at $2.37 million.

Zhang Yang Properties LLC, led by Shangen and Hin Zhang and Qi Jian Chen, acquired the On the Border at 6000 Warden Road. The seller is AJ Dell’Orto Realty Inc., led by Anthony Dell’Orto.

The deal is financed with a $2.7 million loan from Centennial Bank of Conway.

The 1.51-acre development was purchased for $4.3 million in October 2013 from OTB Acquisition LLC of Irving, Texas.

Red Lobster Deal

A 7,594-SF former Red Lobster in Little Rock rang up a $1.45 million sale.

8407 Markham LLC, led by Zhui Zheng, bought its namesake address from RL1AK LLC of Mamaroneck, New York.

The deal is funded with a five-year loan of $1.1 million from BOM Bank of Natchitoches, Louisiana.

RL1AK acquired the 2.81-acre development at 8407 W. Markham St. for $4.2 million in October 2018 from ARCP RL Portfolio VI LLC, an affiliate of American Realty Capital Properties Inc. of Phoenix.

Agri Acreage

Two farm tracts in east Pulaski County totaling 495.81 acres are under new ownership after a $1.37 million deal.

Southern Forestry & Wildlife LLC, led by Benton Gunn, purchased the land along Clear Lake Toltec Road near the Lonoke County line and the west end of Plum Bayou Road from the Ralph E. Ray Jr. Revocable Trust.

The deal is backed with a three-year loan of $1.3 million from Firstar Bank of Sallisaw, Oklahoma.

The Ray family bought most of the land in October 1948 as part of a $15,000 deal with Eunice Norman.

Bear Den Purchase

Five lots and 55.96 acres in the Bear Den Estates neighborhood of west Little Rock sold for $1.16 million.

Bear Den Group LLC, led by Scott Hurley, acquired the property from Bear Den Development Co. LLC, led by Drew Holbert.

The deal is financed with a two-year loan of $2.5 million from First National Bank of Paragould.

Bear Den Development purchased the land in November 2020 as part of a $1.1 million deal with Shinall Mountain Real Estate Trust, led by Jane Pouzar Terrell.

Tract Acquisition

A 57.9-acre tract in north Pulaski County drew a $781,650 transaction.

Justice Land Developing LLC, led by Dustin and Rachael Justice, bought the property on the east side of Batesville Pike at Old Tom Box Road from Ryan and Jeff Aclin.

The deal is funded with a three-year loan of $627,000 from First Service Bank of Greenbrier.

The Aclin family acquired the land for $65,000 in January 1973 from M.D. and Daisy Nicholson.

Financial Wash

A 4,344-SF car wash in west Little Rock changed hands in a $636,525 deal.

Otter Creek Wash LLC, led by Rachel Alexander, purchased the Top Wash project at 13100 Otter Creek Road.

The seller is M&A Group LLC, led by Jacob and Nicholas Fair. The deal is backed with a five-year loan of $517,220 from Armor Bank of Forrest City.

M&A Group bought the 1.32-acre development for $330,000 in October 2020 from Simmons Bank of Pine Bluff.

Logistical Transaction

A 4.31-acre piece of North Little Rock near the Arkansas River rang up a $250,000 sale.

Korbin Logistics LLC, led by Tramelle White, acquired the 2,000-SF storage building at 3000 E. Washington Ave. plus adjoining and nearby land. The seller is Richmond Holdings Inc., led by Sidney Richmond Jr.

The deal is financed with a one-year loan of $340,000 from Gateway Bank of Rison.

Richmond Holdings assembled the land in deals with Clifton Family LLLP, led by Norman Clifton, and the Shirley A. Clifton & Norman E. Clifton Joint Trust, $158,000 in October 2009; Daniel Label Printing Inc., led by Irvin Daniel, $6,000 in February 2010; and Bobby Henry Jr. and his wife, Jennifer, $10,000 in August 2010.

Falstone Court

A 5,893-SF home in west Little Rock’s Falstone Court neighborhood tipped the scales at $1.2 million.

Donald Gauldin Jr. and his wife, Christiawna, bought the house from Frank and Alix Michel. The deal is funded with a 30-year loan of $1.1 million from Simmons Bank.

The Michels acquired the 0.3-acre site for $108,000 in June 2023 from Bret Franks Construction Inc.

PV Residence

A 4,102-SF home in west Little Rock’s Pleasant Valley neighborhood is under new ownership after a $912,000 deal.

The 148 Pleasant Valley Drive Trust, led by Kell and Laci Shenep and Luke Vance, purchased the house from William and Catherine Thorpe.

The deal is backed with a 30-year loan of $638,400 from Eustis Mortgage Corp. of New Orleans.

The Thorpes bought the residence for $570,000 in January 2019 from Robert and Molly Young.

Heights Home

A 2,796-SF home in the Heights area of Little Rock sold for $845,580.

Murray Rudisill and Jelinda Scott acquired the house from the Lynda M. Lewis Revocable Trust.

The deal is financed with a one-year loan of $676,464 from Southern Bancorp Bank of Arkadelphia.

Lewis purchased the residence for $85,000 in July 1992 from the Alex Golden Trust and the Amy Golden Trust.

PV Residence II

Judith Owens and William Koehler paid Timothy and Anna Coon $1.17 million for their 4,754-SF home in west Little Rock’s Pleasant Valley neighborhood.

The Coon family bought the residence for $850,000 in June 2020 from Barrett and Morgan Rush.