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Farmland Produces $4.5M Transaction (Real Deals)

5 min read

A 1,145-acre farm in southeast Pulaski County tipped the scales at $4.52 million.

Resicomm Properties LLC, led by Bryan and Sonja Glaze, bought the land, a mile southeast of Sweet Home along Fourche Creek and Harper Road.

The seller is Kingridge Enterprises Inc., led by Mark Jackson.

The deal is financed with a one-year loan of $4.52 million from Centennial Bank of Conway. The mortgage is secured additionally by other property in Pulaski and Phillips counties.

The property previously was tied to a November 2014 mortgage of $3.5 million held by AgHeritage Farm Credit Services of Little Rock.

Kingridge acquired the land for $2.5 million in May 2011 from U.S. Investment Realty Co., led by Jimmy Winemiller.

Dental Acquisition

A 4,000-SF dental project in North Little Rock weighed in at $2.02 million.

JPN Properties LLC, led by Bill Mitchell, purchased Arkansas Dentistry & Braces at 2901 Warden Road. The seller is Haag-Brown Development LLC, led by Greg Haag and Josh Brown.

The deal is backed with a 10-year loan of $1.4 million from Simmons Bank of Pine Bluff. The 0.85-acre development previously was linked with a June 2015 construction mortgage of $1.5 million from First Community Bank of Batesville.

Haag-Brown Development bought the Aamco Transmission location for $650,000 a year ago from the Bass Family Irrevocable Trust, led by Lynda Bass Gaiser and James Bass Jr.

Pipe Purchase

A 43,900-SF industrial complex in east Little Rock changed hands in a $1.74 million deal.

Pipe Portfolio Owner (Multi) Ltd. of New York acquired the Hanson Pipe & Precast facility at 1300 Bond St. from Forterra Pipe & Precast LLC of Irving, Texas.

The 11.79-acre property was purchased for $25,000 in November 1953 from Little Rock Lumber & Manufacturing Co.

NLR Property

A mixed-use project in North Little Rock rang up an $800,000 transaction.

Green & Chapman LLC, led by John Harris, bought the 9,300-SF complex at 8301 Faulkner Lake Road. The seller is Jimcy Inc., led by Steven Green.

The 4.58-acre development, which includes a 2,800-SF house, is now securing a five-year loan of $3 million and a one-year loan of $750,000 from First Security Bank of Searcy.

The property was acquired for $36,000 in September 1973 from Roger and Bobbie O’Quinn.

Branch Buy

A bank branch in midtown Little Rock sold for $575,000.

Walid Ismael and Hosam Esmail purchased the 4908 W. Markham St. project from IberiaBank of Lafayette, Louisiana.

The 0.85-acre location was bought for $225,000 in December 2000 from Carolyn Hamra.

Downtown Deal

A commercial project in downtown Little Rock drew a $235,000 transaction.

Canana Investments, led by Sam Carrasquillo, acquired the 4,600-SF building at 915 E. Ninth St. from Amanda Mattax.

The deal is funded with a five-year loan of $297,000 from Arvest Bank of Fayetteville.

The 0.48-acre development previously was tied to a November 2011 mortgage of $206,250 held by Little Rock’s Bank of the Ozarks.

Mattax purchased the property for $158,000 more than four years ago from T&N Properties LLC, led by Thomas Mattax Jr. and Nancy and Dave Gunn.

Scenic Home

A 6,823-SF home in the Scenic Heights neighborhood of Little Rock tipped the scales at $2.5 million.

Scenic LLC, led by John Stephens, bought the house from Demp and Paula Dempsey.

The residence previously was linked with April 2003 mortgages of $800,000 held by Wells Fargo Bank of Sioux Falls, South Dakota, and $200,000 held by Arvest Bank.

The Dempseys acquired the property for $726,000 in June 2001 from Peterson Family Enterprises Inc., led by Peter Peterson.

Riverbend Residence

A 3,000-SF home in Little Rock’s Riverbend neighborhood is under new ownership after a $545,000 sale.

Jane Gillespie purchased the house from the Jo Claire Adamson Pulliam Revocable Trust.

The location was bought for $177,000 in January 1994 from Virginia Bailey.

Candlewood House

A 3,400-SF home in west Little Rock’s Candlewood neighborhood changed hands in a $535,000 deal.

Derek and Gayleen King acquired the house from Richard and Jennifer Freeman.

The deal is financed with a 30-year loan of $417,000 from Bank of England and a 20-year loan of $64,500 from Centennial Bank.

The Freemans purchased the property for $525,000 in September 2010 from Hoyte Pyle Jr. and his wife, Dianna.

Woodland’s Abode

A 3,644-SF home in the Woodland’s Edge neighborhood of west Little Rock rang up a $518,000 sale.

Sylvester and Chandra Black bought the house from The Dillon Group Inc., led by Janet Dillon.

The deal is backed with a 30-year loan of $492,750 from Mortgage Research Center LLC of Columbia, Missouri.

The residence previously was linked with a July 2015 mortgage of $412,000 held by First Security Bank.

The site was acquired for $80,000 in June 2015 from Rocket Properties LLC, led by Lisenne Rockefeller and Ron Tyne.

Dixon Financing

Three commercial properties in North Little Rock were used to secure a $3.4 million funding agreement.

Dixon Properties LLC, led by Keith Dixon, obtained the five-year loan from First Service Bank of Greenbrier. The properties were:

♦ The 8,829-SF North Hills Family Medical Center at 4509 E. McCain Blvd. The 0.82-acre development was purchased for $910,000 in January 2001 from RWK Investments, led by Dr. Thomas Rooney and Dr. Michael Weber.

♦ The 5,835-SF Davita Dialysis project at 4505 E. McCain Blvd. The 0.66-acre location was acquired for $175,000 in September 1996 from Dwayne and Nancy Ruggles.

♦ The 22,000-SF office suite project at 4020 Richards Road. The 1.9-acre site was bought for $341,000 in August 1998 from the Retha Jeanette Roberts Revocable Trust.

The properties previously were tied to a January 2012 mortgage of $3.8 million and a September 2013 mortgage of $65,000 held by Arvest Bank.

Multifamily Mortgage

The owner of a 30-unit apartment complex in west Little Rock picked up a $2.46 million financial package.

Tisdale Properties & Development LLC, led by Tracy and Terre Tisdale, received the five-year loan from Bank of the Ozarks.

The 0.81-acre development at 10000 W. Markham St. previously was linked with a December 2012 mortgage of $950,000 held by the bank.

The project was acquired for $1.1 million in February 2005 from Jack Dowdy.

Seven-Digit Construction

Staybridge Inn & Suites    $9,125,000
1100 S. University Ave., Little Rock
Huffman Contractors Inc., Little Rock

Expansion & Remodel    $1,800,000
Roosevelt Thompson Library
38 Rahling Circle, Little Rock
Alessi-Keyes Construction Co., North Little Rock

Crystal Hill Plaza II    $1,060,290
13300 Crystal Hill Road, North Little Rock
Hart Construction LLC, Searcy

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