Fountaine Bleau North Attracts $34M Sale (Real Deals)

Fountaine Bleau North apartments at 4401 E. 46th St. in North Little Rock.

A 217-unit apartment project in North Little Rock weighed in at $34.15 million.

PCFB Little Rock LLC, an affiliate of Peak Capital Partners of Provo, Utah, bought Fountaine Bleau North at 4401 E. 46th St.

The seller is Burkhalter FBN LLC, led by John Burkhalter.

The deal is backed with a 10-year loan of $26 million from Berkadia Commercial Mortgage LLC of Horsham, Pennsylvania.

The 12.02-acre development previously was linked with a December 2014 mortgage of $28 million held by Centennial Bank of Conway.

The site was purchased for $555,000 in June 2011 from Osborne Leasing Inc., led by Bobby Osborne.

Pharmacy Purchase

A west Little Rock Walgreens tipped the scales at $5.87 million.

MDC Coastal 11 LLC, an affiliate of Realty Income Corp. of San Diego, acquired the 14,313-SF project at 111 N. Bowman Road.

The seller is ARCP WG Little Rock (Bowman) AR LLC, an affiliate of American Realty Capital Properties Inc. of New York.

The 1.57-acre development is helping secure a $119 million funding agreement overseen by Wilmington Trust of Delaware.

The project was bought for $5.9 million in November 2014 from Walgreen Co. of Deerfield, Illinois.

Office Transaction

A 13,552-SF office building in west Little Rock is under new ownership after a $2 million deal.

1224 Aldersgate LLC, led by Dr. Arpana Edala and Dr. Oumitana Kajkenova, purchased the Pavilion Woods project at 2300 Andover Court.

The seller is Pavilion Woods Partners LLC, led by Barry Corkern.

The deal is financed with a five-year loan of $1.6 million from Little Rock’s Bank OZK.

The 1.86-acre property was acquired for $310,000 in January 2001 from Bailey Properties LLC, led by John S. Bailey.

NLR Office-Warehouse

A 34,222-SF office-warehouse in North Little Rock rang up a $1.75 million sale.

Today’s Power Inc., led by Michael Henderson, bought the 7300 Industry Drive project from Goodrich Corp. of Charlotte, North Carolina.

Goodrich purchased the 9.51-acre development for $2.1 million in September 2010 from Audio International Inc., led by Roger Wolfe.

Convenient Sale

A 2,856-SF convenience store in North Little Rock changed hands in a $985,000 deal.

NS Retail Holdings LLC, an affiliate of NetStreit Corp. of Dallas, acquired the Exxon project at 3320 JFK Blvd.

The seller is Park Hill Investments Inc., led by Jimmy Crossfield. The 0.84-acre property was assembled in two deals with Kelcro Inc., led by Ron Keltner, $450,000 in February 2005; and Nedra Dumas Wood and Sandra Dumas Garrett, $108,000 in July 2018.

Visions Purchase

A 7,440-SF strip club in northwest Pulaski County sold for $700,000.

ARC Investments LLC of Las Vegas purchased Visions at 7900 Bicentennial Road from RPL0411 LLC of Memphis.

The 2.37-acre development was acquired for $400,000 in February 2012 from Mid South Properties LLC, led by Minor Booth.

Multifamily Buy

A five-unit apartment building in the Hillcrest area of Little Rock drew a $675,000 transaction.

DJH NS822 LLC, led by Fred Perkins III, bought the 822 N. Spruce St. project. The seller is BTC Rentals Two LLC, led by Robert C. Smith.

The deal is funded with a five-year loan of $540,000 from First Security Bank of Searcy.

The 0.27-acre development previously was tied to a June 2017 mortgage of $504,000 held by Bank OZK.

The property was purchased for $720,000 more than two years ago from Donna Barnett.

Argenta Land

A 0.67-acre parcel in downtown North Little Rock is under new ownership after a $400,000 deal.

First Orion HQ LLC, led by Aaron Peeples, acquired the land at the northwest corner of Fifth and Magnolia streets. The seller is the Mill LLC, led by Jack Grundfest.

Pieces of the property were bought as part of four deals with Mountaire Feeds Inc., led by Ron Cameron; $2.17 million in March 2008; Union Pacific Railroad Co. of Omaha, Nebraska, $243,000 in November 2008; John and Sylvia Borchert, $450,000 in January 2011; and the city of North Little Rock Downtown Development Board, $207,333 in May 2017.

Tire Store Deal

A 2,580-SF tire shop in the Riverdale area of Little Rock rang up a $375,000 sale.

Koon Properties LLC, led by Walter and Diane Koon, purchased the Mathis Tire project at 3720 Cantrell Road. The seller was Rablaco LLC, led by Mark Ramm.

Rablaco acquired the 0.44-acre development for $220,000 in July 1993 from John Miller Tire Co.

Longfellow Residence

A 3,792-SF home in Little Rock’s Longfellow neighborhood weighed in at $1.3 million

Gary Nash Jr. and his wife, Allison, bought the house from Curt and Jean Hagedorn.

The deal is backed with a 30-year loan of $1.3 million from Arvest Bank of Fayetteville.

The residence previously was linked with a September 2013 mortgage of $599,000 held by Bank of America in Charlotte, North Carolina.

The Hagedorns purchased the property for $949,000 more than six years ago from the estate of Carol Ann Penick.

Heights House

A 3,970-SF home in the Heights area of Little Rock sold for $799,000. Joshua and Emily Tennyson acquired the property from John and Melissa Saviers.

The deal is financed with a 20-year loan of $803,747 from Smackover State Bank. The residence previously was tied to an October 2015 mortgage of $417,000 held by BancorpSouth Bank of Tupelo, Mississippi.

The house was bought for $687,400 in September 2015 from Blake and Debra Miller.

Shady Valley

A 5,249-SF home in North Little Rock’s Shady Valley neighborhood drew a $683,000 transaction.

Paul and Linda Wylie purchased the house from Joseph Folen IV.

The deal is funded with a 30-year loan of $433,000 from Citizens Bank of Providence, Rhode Island.

Folen acquired the residence for $520,000 in November 2018 from Carter and Jennifer Wallace.

Germay Court

A 4,900-SF home in west Little Rock’s Germay Court neighborhood is under new ownership after a $590,000 deal.

Lisa and Henry Paden bought the house from Antonio and Benecia Moore. The deal is backed with a 30-year loan of $484,000 from Gateway Mortgage Corp. of Jenks, Oklahoma.

The residence previously was linked with a September 2012 mortgage of $417,000 held by Bank of Little Rock Mortgage Corp.

The Moores purchased the property more than seven years ago for $585,000 from Portland’s HomeBank of Arkansas.

The Oaks

A 3,067-SF home in the Oaks neighborhood of west Little Rock rang up a $515,000 sale.

Morse and Geraldine Gist acquired the house from Phyllis Douglas.

The deal is financed with a 15-year loan of $240,000 from Simmons Bank of Pine Bluff.

The location was bought for $86,000 in October 2000 from Deltic Timber Corp. of El Dorado.