A 27.34 percent stake in four fast-food projects in Pulaski County changed hands in deals totaling $1.1 million.
Richard and Clara Clancy bought out the Mark Hall Family Revocable Family Trust’s interests in:
* The 0.71-acre Taco Bell development at 1809 N. First St. in Jacksonville, $393,000.
* The 0.64-acre KFC development at 4400 Camp Robinson Road in North Little Rock, $286,000.
* The 0.64-acre Taco Bell development at 7201 JFK Blvd. in Sherwood, $268,000.
* The 0.66-acre Taco Bell development at 1200 John Barrow Road in Little Rock, $250,000.
The properties are backed with a five-year loan of $4.6 million from Wells Fargo Bank of Sioux Falls, S.D.
The Clancys and the trust acquired the eateries for $4.3 million in November 2007 from CPCG KM AR 2 LLC of Los Angeles.
Church Land
A 7.5-acre future church site rang up a $950,000 sale in Sherwood.
Apostolic Church Real Estate Holdings Inc. purchased the property near the southwest corner of Oakdale Road and State Highway 107 from Byron and Marilyn McKimmey and Billy and Linda Morden.
Morden and McKimmey provided a $200,000 loan to finance the deal.
The property previously was used to help secure a February 2006 mortgage of $7.1 million and a December 2008 mortgage held by Twin City Bank of North Little Rock.
The land was bought in February 2006 as part of an $8 million transaction with Metropolitan Land Co., representing the heirs of Justin Matthews and his Metropolitan Trust.
Ortho Redevelopment
Redevelopment of a North Little Rock motorcycle dealership is in motion after an $850,000 transaction.
Orthosurgeons Properties LLC, led by Dr. Scott Bowen, acquired the former Harley Davidson project at 4300 Landers Road. The seller is B&F Advertising Inc., led by Henry Browne.
Renovation of the 10,000-SF facility into medical office space is financed with a five-year loan of $1.47 million from Delta Trust & Bank of Little Rock.
The 0.66-acre property was purchased for $75,000 in May 1974 from Robert and Gloria Hess.
Acreage Acquisition
Nearly 17 acres in south Pulaski County are under new ownership after a $300,000 sale.
AMA Properties LLC, led by Nasrullah Khimani, bought the land near the southeast corner of West Dixon Road and U.S. 67-167 from R.J. and Regina Hampton.
The land was acquired for $145,000 in July 1988 from Harold and Sylvia Austin.
Office Purchase
A 4,800-SF office building in midtown Little Rock drew a $195,000 transaction.
M.L. Squared Development LLC, led by Jeff Massey and Doris M. Lewis, and her husband, David, purchased the 6213 Father Tribou St. project.
The seller is the Arthritis Foundation Southeast Region Inc.
The deal is funded with a $300,000 loan from First Security Bank of Searcy.
The 0.33-acre property was
bought for $175,000 in November 1981 from Leejac Inc., led by Robert Henry Jr.
Chenal West Home
A 5,000-SF home in west Little Rock’s Chenal West Estates neighborhood is under new ownership after a $695,000 deal.
Thomas and Bridget Pitonyak acquired the house from Darrin and Melinda Meeks.
The deal is backed with a 30-year loan of $345,000 from Bank of Little Rock Mortgage Corp.
The 5.7-acre property previously was tied to January 2009 mortgages of $70,000 and $417,000 and a September 2009 mortgage of $100,000 held by Centennial Bank of Conway.
The land was purchased for $109,000 in May 1997.
The seller is Chenal West Developers Inc., led by Curtis Thomas.
PV Residence
A 5,149-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $688,000 transaction.
J.M. and Elizabeth Johnson bought the house from Jerry and Sharon Coates. The residence previously was linked with a March 2000 mortgage of $245,000, a February 2008 mortgage of $100,000 and a January 2011 mortgage of $289,373 held by One Bank & Trust of Little Rock.
The Coates family acquired the house for $385,000 in April 1988 from Gary France Inc.
Bella Rosa Financing
A mixed-use commercial project in west Little Rock was used to secure a $3.6 million funding agreement.
Bella Rosa Commerce Center LLC, led by Kristopher Upton and Pete Hornibrook, obtained the $3.6 million loan from First Security Bank.
The 7.6-acre development at 16101 Cantrell Road previously was tied to a May 2006 mortgage of $4.5 million held by Regions Bank of Birmingham, Ala.
The Bella Rosa Commerce Center was purchased for $4.5 million in May 2006 from Highway 107 Associates LLC, led by James May III and Warren Stephenson.
The project is broken into 30,000 SF of office, 29,000 SF of warehouse and 24,000 SF of mini-storage space.
Alley Funding
The owner of a North Little Rock retail project picked up a $2.3 million financial package.
Guard LLC, led by Sam, Haitham and Essa Alley, received the four-year loan from Simmons First National Bank of Pine Bluff.
The 0.95-acre Double Quick Plaza development at 3808 Camp Robinson Road previously was linked with a June 2003 mortgage of $1 million and an August 2011 mortgage of $146,154 held by Simmons.
The Alley family assembled the property as part of four buys totaling $299,500. The sellers were Joel and Janet Holmes, $152,000 in January 1990; Mary Wood, $60,000 in January 1995; Mary and Randall Melnar, $50,000 in June 1993; and Ronnie and Connie Ringer, $37,500 in January 1990.
The financing also is secured by the 5.7-acre Double Quick Plaza/Otter Creek Business Park at 11701 Interstate 30, owned by the Alley brothers. The 42,800-SF office-retail project previously was tied to a June 2003 mortgage of $2 million and a July 2009 mortgage of $250,000 held by Simmons.
The Alley family bought the properties for $430,000 in October 1991 from Otter Creek Park Co. of Dallas.
Both Double-Quick projects are helping secure a five-year loan of $1.6 million backing a 0.66-acre parking lot development in downtown Little Rock owned by 207 West 3rd Development LLC, Sam Alley and Greg Hatcher.
The project previously was linked with a July 2010 mortgage of $1.2 million held by Simmons. The property was assembled in two deals seven months ago totaling $675,000 with the heirs of Cora Moore and the heirs of O.D. Tucker Sr., $550,000 for the former site of the KARK Building at 201 W. Third St. and Regions Bank, $125,000 for the former site of the First National Bank operations center at 207 W. Third St.
Burrow Mortgage
A 20,800-SF day care project in Little Rock is backing a $1.86 million mortgage. Burrow Family Trust, led by Bruce Burrow, got the three-year loan from Liberty Bank of Jonesboro.
The 1.6-acre Kids First development at 1919 W. 12th St. previously was tied to a May 2010 mortgage of $1.6 million, a July 2010 mortgage of $250,000 and an April 2011 mortgage of $315,000 held by Liberty.
The property was purchased for $500,000 in May 2002 from two New York firms: QRS 10-9 (AR) Inc. and QRS 11-2 (AR) Inc.
Office Refinance
The owner of a 13,525-SF office building in Little Rock landed a $937,939 funding agreement. TME Partnership LLP, led by Allen Pettit, obtained the loan from Peoples Bank of Sheridan.
The 1.6-acre Woodstone Office Building project at 5800 Evergreen Drive previously was linked with a July 2004 mortgage of $1.1 million held by Pulaski Bank & Trust of Little Rock.
TME acquired the property for $950,000 in January 1999. The sellers were Tad and Judith Krug, $238,000; Leo Olberts Jr. and his wife, Margaret, $238,000; Tim and Margaret Ramsey Farrell, $237,000; and Margaret Ramsey Farrell, $119,000, and James Ramsey, $118,000, trustees
Sign up for Daily E-news
