Farmland Reaps $1.8 Million Sale (Real Deals)

The sale of a 1,800-acre patch of east Pulaski County along the Arkansas River tipped the scales at $1.8 million.

Blue River LLC, led by Stephanie Smith and Bryan Brandon Adams, acquired the property near the southwest corner of Highway 161 and River Road.

The seller is Faver Farms LLLP, led by Ed Faver Smith. The deal is financed with a five-year loan of $1.4 million from Pine Bluff National Bank.

The bulk of the acreage has been in the Faver family for more than 88 years.

Taco Bell Buy

A fast-food eatery in North Little Rock is under new ownership after a $1.5 million deal.

2565 E. Tropicana Blvd LLC of Carson City, Nev., purchased the Taco Bell at 11525 Maumelle Blvd. The seller is Fortuna Investments LLC, an affiliate of Fort Smith’s K-Mac Enterprises Inc.

The location was bought for $500,000 in February 2011 from One Bank & Trust of Little Rock.

The bank acquired the land in January 2008 for $1.03 million as part of a 1.58-acre deal with Richardson Properties LLC, led by Keith Richardson.

Industrial Deal

A 30,000-SF industrial project in Jacksonville rang up a $520,000 transaction.

Ashland Inc. of Lexington, Ky., bought the 1920 Redmond Road property from Rablaco LLC, led by Bradley Blakeway, Paul Ramm and Michael Cory.

The 5-acre location was purchased for $55,000 in August 1987 from Pulaski Industrial Park Inc., led by James Lasley.

Visions Acquisition

A 7,200-SF strip club in north Pulaski County drew a $400,000 sale. RPL0411 LLC, led by Ralph Lunati, acquired Visions at 7900 Bicentennial Road. The seller is Mid South Properties LLC, led by Minor Booth.

The 2.37-acre development previously was used to help secure a May 2006 mortgage of $691,000 held by BancorpSouth Bank of Tupelo, Miss.

The property was assembled as part of two deals totaling $298,000. The seller in both deals was Geneva Bevans, $258,300 in April 1999; and $40,000 in December 2000.

Valley Falls Transaction

An 8,900-SF mansion in west Little Rock’s Valley Falls Estates neighborhood changed hands in a transaction valued at $5.1 million.

La Marche Drive Investment LLC, led by Jeremy Carroll, purchased the residence from Rick Ferguson and his wife, Deanna.

The limited liability company also bought an adjoining 28.8 undeveloped acres in a transaction valued at $700,000. The seller is VFE Inc., led by Rick Ferguson.

The deals are financed with a $4.4 million loan from Crown Financial LLC of Houston. LRG Investments LLC, led by Rick Ferguson, carried a second mortgage of $2.95 million.

The home previously was tied to an August 2006 mortgage of $2.5 million held by Centennial Bank of Conway.

All of the land associated with these deals was acquired in October 2000 as part of a $2 million deal with Miriam Parke Balding, 38 percent; Frank Parke Jr. and his wife, Ann, 26 percent; Frank Herbert Parke III and his wife, Paula, 8 percent; John and Susan Parke, 8 percent; Emily Frances Parke, 8 percent; Frances Balding Biegler and her husband, Mark, 6 percent; and Marvin Balding Jr., 6 percent.

PV Residence

A 3,290-SF home in west Little Rock’s Pleasant Valley neighborhood sold for $500,000.

Lawrence Moffett III bought the house from Dorothy B. Moffett. She financed the deal with a one-year loan of $200,000.

The site was purchased for $18,000 in July 1970 from Dudley and Alice Rodgers.