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Eastwood Apartments Tops $3.8M Mark (Real Deals)

4 min read

A 96-unit apartment project in Jacksonville weighed in at $3.85 million.

Andmark Eastwood Apartments LLC, an affiliate of the AndMark real estate investment firm in Los Angeles, sold its namesake complex at 1011 S. James St. The buyers in an 84/16 split are MCG Eastwood TIC I LLC and MCG Eastwood TIC II LLC, both of Lakewood, New Jersey.

The deal is financed with a $3.7 million loan from Bancorp Bank of Sioux Falls, South Dakota.

Andmark bought the 4.73-acre development for $2.8 million in January 2018 from the Gray Joint Revocable Trust, led by Bartus Gray Jr. and Carolyn Gray, and the Carolyn Gray Trust II.

Burger King Buy

A 3,163-SF fast-food outlet in southwest Little Rock tipped the scales at $2.89 million.

Realty Income Properties 13 LLC, an affiliate of San Diego’s Realty Income Properties real estate investment trust, purchased the Burger King at 5900 Dreher Lane. The seller is AD II LLC, an affiliate of Ampler Development in Austin, Texas.

AD II bought the 0.62-acre development for $3.1 million in December 2020 from Allied Food Industries Inc. of Huntington, West Virginia. Allied Food Industries acquired the project for $700,000 in May 1986 from Burger King Corp. of Miami.

Northshore Office

An 8,627-SF office building in North Little Rock sold for $2 million.

Northshore Land Co. LLC, led by Abou-Diab Nader, bought the 5400 Northshore Drive project from Edafio Builders LLC, led by Jim Phillips.

Edafio Builders acquired the 1.66-acre site for $330,000 in September 2016 from the Norma J. James Living Trust.

The trust purchased the land for $253,000 in October 2009 from Cassady Associates Inc., led by Tony Cassady.

Downtown Buys

Neighboring commercial properties in downtown Little Rock changed hands in a $1.3 million deal. Hatcher Properties Inc., led by Greg Hatcher, acquired the 11,031-SF project at 516 W. Third St. and the 3,959-SF home of a T-Mobile store and Moose Cleaners at 220 Broadway.

The seller is Griffin Sellers LLC, led by Don Aldridge.

The deal is backed with a 25-year loan of $2.2 million from First State Bank of Lonoke.

The 0.48-acre Broadway property was assembled in deals with Louis and Madeline Franke, $350, and Frank and Edna Hallin, $187 in September 1939; Mrs. John Bleidt, $1,125, and Clara Fulton, $375 in October 1939; T.A. and Elizabeth Darragh, $7,000 in August 1940; and the Tucker Co., $6,500, and Little Rock’s Peoples Trust Co., under the receivership care of Arkansas Bank Commissioner Grover Jernigan, $4,750 in September 1940. 

The 0.26-acre Third Street property was bought for an undisclosed sum in September 1947 from W.C. and Kathleen Montgomery.

Eatery Acquisition

A 4,800-SF restaurant in west Little Rock rang up a $800,000 sale.

Brimena Properties LLC, led by Jose Godny, purchased the former home of McClard’s & Down Home Catering at 9219 Stagecoach Road. The seller, Beasley McClard LLC, provided a five-year mortgage of $700,000 to fund the deal.

Beasley McClard, led by Lee Beasley, acquired the 2.08-acre development for $800,000 in August 2022 from TMT Investments LLC, led by Tori Tisdale.

Office Transaction

A 23,413-SF office building in south Little Rock drew a $550,000 transaction.

Lahiani Group Properties LLC, led by Mohamed Lahiani, bought the 8101 Interstate 30 project from JCC I-30 LLC, led by Carl Schultz and Cynthia Wheeler.

The deal is financed with a three-year loan of $550,000 from Simmons Bank of Pine Bluff.

JCC I-30 purchased the 2.06-acre development for $290,000 in June 2013 from C Street Group LLC, led by Lance Levi, and Clifton Family LLLP, led by Norman Clifton.

Country Club House

A 3,336-SF home near the Country Club of Little Rock weighed in at $2.1 million.

Todd and Stephanie Stewart acquired the house from 5309 Country Club LLC, led by Miles and Katherine Stephens.

The deal is backed with a 30-year loan of $1.8 million from Encore Bank of Little Rock.

5309 Country Club bought the residence for $691,000 in July 2014 from 2021 Brownwood LLC, led by Diane Wilder.

Palisades Estates

A 3,662-SF home in Cammack Village’s Palisades Estates neighborhood is under new ownership after a $920,000 deal.

Lindsay Enns and Byron Wilkes purchased the house from Joseph Wright and Erin Priddy.

The deal is funded with a 30-year loan of $920,000 from Simmons Bank.

Wright and Priddy acquired the residence for $874,000 in April 2022 from Scott and Kathryn Irby.

Duclair Court

A 3,565-SF home in west Little Rock’s Duclair Court neighborhood sold for $770,000.

Rick and Michelle Bezet bought the house from the Meacham Revocable Trust, led by Kenneth Meacham.

The deal is financed with a 15-year loan of $616,000 from First Security Bank of Searcy.

The trust purchased the residence for $445,000 in June 2018 from the Robert P. Hardin Revocable Trust and the Charlotte A. Hardin Revocable Trust.

Rockwater Village

A 3,755-SF home in North Little Rock’s Rockwater Village neighborhood changed hands in a $752,000 deal.

Walden and Madison Cash acquired the house from Coburn Construction LLC, led by Roger Coburn Jr.

The deal is backed with a 30-year loan of $639,200 from Riverside Mortgage Co. of Little Rock.

Coburn Construction bought the 0.17-acre site for $90,000 in June 2019 from North Bluffs Development Corp., led by Lisa Ferrell.

OZK Buy

Little Rock’s Bank OZK paid $2.29 million for a 1.5-acre future bank branch site adjoining the Costco fuel station on Chenal Parkway in west Little Rock.

The seller, Costco Wholesale Corp. of Issaquah, Washington, purchased the property in October 2020 as part of a $12.6 million deal with KRS Parcel 8 LLC, an affiliate of Little Rock’s Whisenhunt Investments.

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