Cottage Lane Project Attracts $11M Buyer (Real Deals)

A 143-bed nursing home in west Little Rock tipped the scales at $11 million. 

Cottage Lane Health & Rehab LLC, led by Joey Wiggins, purchased its namesake project at 800 Brookside Drive. The seller is SRN Properties LLC, an affiliate of Fort Smith’s Stein & Associates.

The 5.21-acre development is helping secure a $74.5 million funding agreement with Merchants Bank of Indiana in Carmel.

SRN acquired the project for $5.6 million in August 2015 from Arkansas AVIV LLC, an affiliate of AVIV REIT Inc. of Chicago.

HI Express

A 75-room hotel in Maumelle weighed in at $5.77 million.

BSKP Inc., led by Umeshkumar Patel, bought the Holiday Inn Express & Suites at 20 Holiday Drive. The seller is Jivan Inc., led by Kamlesh Jivan.

The deal is financed with a five-year loan of $6.1 million from Arkansas Federal Credit Union of Little Rock.

Jivan purchased the 2.28-acre location for $1 million in March 2008 from McCain Hotels LLC, led by Rajesh Mehta.

Meredith Court

Forty apartments in west Little Rock changed hands in a $1.89 million deal.

Okra LLC of Redmond, Washington, acquired five buildings at 1, 3, 5, 6 and 8 Meredith Court from Mid-South Meredith Court LLC of San Diego.

The deal is backed with a five-year loan of $1.5 million from Central Bank of Little Rock. The combined 1.37-acre development was bought for $1.5 million in January 2020 from Starks Property Management LLC, led by Rick Starks.

Springvale Apartments

Ownership of a 20-unit apartment project in North Little Rock shifted in a $906,510 transaction.

TSD Properties LLC, led by Timothy and Suson Dudley, purchased sole control of Springvale Apartments at 5515-5535 Springvale Road from Renegade Properties LLC, led by John Dennis.

Renegade Properties and the Dudleys acquired the combined 1.48-acre development for $1.3 million in December 2021 from 3200 Myers Street Partners LLC, an affiliate of RPP Products of Bloomington, California.

Today’s Transaction

A 48-acre industrial tract in North Little Rock drew a $695,000 transaction.

Today’s Power Inc., a wholly-owned subsidiary of Arkansas Electric Cooperatives Inc., bought the land adjoining the east side of the company’s headquarters at 7300 Industry Drive. The seller is the Bryon W. House III & Shae M. House Living Trust.

The deal is funded with a one-year loan of $495,000 from First Security Bank of Searcy.

The property was purchased for $855,000 in May 2005 from the Herschel H. Friday estate, William Patton, William Terry, William Cravens, William Sutton, the Boyce Love Testamentary Trust and two Charles Cella-led entities: Oaklawn Jockey Club Inc. and Southwestern Enterprises Inc.

Hillcrest Commercial

A 1,827-SF service station in the Hillcrest area of Little Rock rang up a $500,000 sale.

Jett’s Gas & Service Inc., led by George Jett Jr., sold its 3101 W. Markham St. project to Hayre Jr. Enterprises Inc., led by Billy Hayre Jr.

The deal is financed with a 25-year loan of $602,200 from Arkansas Capital Corp. of Little Rock.

The 0.32-acre development was bought for $75,000 in May 1994 from George and Carrie Bushmiaer and Robert and Martha Bushmiaer.

Spa Transaction

A 2,256-SF manicure and more project in Sherwood is under new ownership after a $425,000 deal.

Kayla Nails & Spa LLC, led by Hoang Le and Duong Pham, purchased Luxury Nails at 8121 Hwy. 107.

The seller is Kidd Management Co. LLC, led by Gregg Kidd. The deal is backed with a five-year loan of $340,000 from Arvest Bank of Fayetteville.

The 0.37-acre development was acquired for $133,000 in June 2003 from Community Bank of Cabot.

Jacksonville Church

A 4,500-SF church in Jacksonville sold for $150,000. Jacksonville Community Worship Church bought the 424 Church St. property from the Victory Praise & Worship Church.

The deal is funded with a three-year loan of $127,500 from First Arkansas Bank & Trust of Jacksonville.

Victory purchased the 0.41-acre development for $80,000 in April 2008 from the New Testament Holiness Church.

Edgehill Property

A partially built site in Little Rock’s Edgehill neighborhood tipped the scales at $1.4 million. J.C.J. Holdings LLC, led by Jon James, acquired the property from 2 Edgehill LLC, led by Andrew Faulkner.

The deal is financed with a one-year loan of $1.1 million from Focus Bank of Charleston, Missouri.

The site was bought for $1.4 million September 2020 from Two Edgehill Residence Trust, led by Lauren Landers.

Heights Home I

A 4,169-SF home in the Heights area of Little Rock weighed in at $1.35 million.

Wilson and Jennifer Anthony purchased the house from LACA Real Estate Holdings LLC, led by Brent and Dorothy Moss. The deal is funded with a 30-year loan of $1 million from Bank of Bearden.

The residence was acquired for $1.1 million in September 2020 from Jeff Fuller Homes LLC.

Heights Home II

A 5,530-SF home in the Heights area of Little Rock changed hands in a $1.3 million deal.

Thomas and Laura Keller bought the house from the Stuart Holcomb Revocable Trust, led by Edward and Frederick Holcomb and Katherine Holcomb Vollmer.

The location was purchased for $105,000 in January 1998 from Pauline Isley.

Carmel Residence

A 6,816-SF home in west Little Rock’s Carmel neighborhood drew a $1.15 million transaction.

Kent and Dianne Myers acquired the house from the Faulkner Family Qualified Personal Residence Trust, led by Brianne Faulkner Bush and Amy Parker.

The deal is backed with a 30-year loan of $475,000 from Gateway Mortgage of Jenks, Oklahoma.

James and Joyce Faulkner bought the location for $88,000 in December 1986 from Western Little Rock Co., led by Floyd Fulkerson.

Hunting Ground

More than 971 acres in east Pulaski County rang up a $3 million sale.

Lonoke Duck Club LLC, led by Brent Staley, purchased the spread on the south side of Walter Estes Road about 8 miles south of Scott from Plum Bayou Holdings LLC, led by Kevin Huchingson and Lee Adams.

The property was assembled in deals with Chinquapin Wildlife Farms LLC, led by Jack Wilson, $600,000 in December 2013; James and Susan Alexander, $497,425 in November 2015; and Kar Farms LLC, led by John Kapp, $700,000 in April 2020.

Pinnacle View Property

A 42-acre tract in west Pulaski County is under new ownership after a $1.67 million transaction.

Samuel and Bridget Ford bought the land on the west side of Highway 300 near Pinnacle Mountain State Park from Denny Land Co. LLC, led by Phyllis Storthz and Sam Storthz III.

The Storthz family assembled most of the property in deals of unrecorded value with R.C. and Lillian Chalk in March 1968 and Olive Walther in May 1968. A small portion was purchased as part of a November 1952 deal with Lelia Scott.

Tisdale Transaction

An 8.26-acre parcel on the edge of west Little Rock sold for $700,000.

Tisdale Properties & Development LLC, led by Tracy Tisdale, acquired the land on the south side of Kanis Road between Chenal Parkway and Edswood Road from Kay McDaniel.

The property was bought for $40,000 in August 1980 from Madie Pederson.

Apartment Sale I

A 12-unit apartment property in downtown Little Rock changed hands in a $672,000 deal.

Pear LLC of Redmond, Washington, purchased the 818 and 822 Cumberland St. projects from Stuart and Suzanne Mackey. The deal is financed with a five-year loan of $537,600 from Central Bank.

The 0.32-acre development was assembled in two transactions with Von Holbert, $211,000 in April 2000; and the Dorothy Fay Brown Revocable Trust, $200,000 in August 2006.

Apartment Sale II

A trio of duplexes in the Hillcrest area of Little Rock combined for deals totaling $595,000.

BerryhillRei LLC, led by Russ Berryhill, bought the 5622 B St. project for $320,000 and the 5522 and 5524 B St. projects for $275,000. The seller is Midtowne B Street LLC, led by Chris Moses.

The deal is funded with three-year loans of $350,000 and $304,300 from Arkansas Federal Credit Union. 

The 0.21-acre development at 5622 B. St. and the combined 0.18-acre development at 5522-5524 B St. were purchased in October 2015 as part of a $1.1 million deal with the Jett & Georganne Ricks Family Corp.

Sunshine Mart

A 6,696-SF store in west Little Rock drew a $525,000 transaction.

John Barrow Retail LLC, led by Fadi Qtouf and Sahar Kattom, acquired the Sunshine Mart at 3525 Barrow Road from the Carole Caswell Merritt Trust.

The deal is backed with a $488,750 loan from Conway’s Centennial Bank.

The 0.9-acre development was bought for $812,000 in November 2003 from Marilyn A. Hood & Sammie E. Hood Family Ltd.

Convenient Buy

A 1,392-SF convenience store in North Little Rock rang up a $450,000 sale.

Eagleland Investments 1 LLC, led by Rahim Juma, purchased the Protho Junction Exxon at 2900 Hwy. 161.

The seller is Clay Family LLC, led by Joe and Tracy Clay. The 1.69-acre property was acquired for $163,000 in 1987 from Exxon Corp. of Houston.

Heights Home

A 4,150-SF residence in the Heights area of Little Rock tipped the scales at $1.35 million.

April and Paolo Lim bought the house from Jeff Fuller Homes LLC.

The deal is financed with a 30-year loan of $1.3 million from First Horizon Bank of Memphis. The location was purchased for $390,000 in September 2020 from Scott Peeler and Melissa Walsh.

Jacksonville Abode

A 6,627-SF home near Jacksonville’s Bushwood Estates neighborhood is under new ownership after a $1.3 million sale.

The Morden Revocable Trust, led by Billy and Linda Morden, acquired the house from the James Matthew Greene Sr. & Shelba Jean Greene Living Revocable Trust.

The 10-acre site was bought from Ronald and Judith Rogers for $120,000 in March 2004.

Valley Falls Estates

A 7,655-SF house in the Valley Falls Estates neighborhood of west Little Rock weighed in at $1.25 million.

Lucas O’Gary and Kimberly Steed purchased the house from the Stella M. Kamanda Family Trust, led by Nemahun and Nanday Kamanda.

The residence was acquired for $1.6 million in March 2002 from Kimric Inc., led by Randy Ferguson.