Governors Park Sale Checks In at $12.9M (Real Deals)

Governors Park Apartments at 7820 Capitol Ave. in Little Rock. (Google Maps)

A 154-unit apartment complex in midtown Little Rock tipped the scales at $12.9 million.

QPG W Capitol Apartments LLC, an affiliate of New York’s Quad Property Group, purchased the Governors Park project at 7820 Capitol Ave. The seller is Governors Arkansas Associates LLC, an affiliate of New York’s Somerset Partners.

The deal is financed with a 10-year loan of $10.3 million from Berkeley Point Capital LLC of Lower Gwynedd, Pennsylvania.

The 6.57-acre development was acquired for $12 million in May 2015 from Governors Park Little Rock Apt Portfolio LLC, an affiliate of Bell Partners in Greensboro, North Carolina.

Office Transaction

A 12,203-SF office building in Little Rock’s Riverdale area weighed in at $2 million.

Hatcher Properties Inc., led by Greg Hatcher, bought the 2224 Cottondale Lane project from the Arkansas Bar Foundation, led by Vicki Vasser.

The deal is funded with a four-year loan of $2.2 million First Service Bank of Greenbrier.

The Bar Foundation purchased the 0.81-acre development for $1.2 million in February 2005 from the Ybeltje B. Conner Family Trust.

Leisure Location

A 40,000-SF Family Leisure project in west Little Rock’s Gateway Town Center is in motion after a $1.95 million land deal.

Badu Holdings LLC, led by Richard Uekman, acquired the 5.38-acre site at Bass Pro Parkway and Gateway Grove Loop next to Dave & Busters.

The seller is Gateway Otter LLC, led by Isaac Smith. The deal is backed with a four-month loan of $1.9 million from Simmons Bank of Pine Bluff.

Gateway Otter bought an 89.3% stake in the land nearly two years ago as part of a $5.46 million deal with Town Center LLC, led by Tommy Hodges.

Office-Warehouse Buy

A 41,310-SF office-warehouse facility in downtown Little Rock rang up a $1.35 million sale.

Haybar Properties LLC, led by Bryan Hosto, purchased the 620 President Clinton Ave. project from the Lawrence D. Jacimore Living Trust.

The Jacimore trust bought sole ownership of the 0.42-acre development in deals with Bud Dickinson, $3,000 in April 1984; and Stephen Smith, $10,000 in March 1988.

The property was acquired for $300,000 in May 1982 from Lorene Lloyd.

McCain Property

A 3,406-SF retail project in North Little Rock drew a $1.3 million transaction.

NJW Property LLC, led by Jacob Willett, bought the former Sleep Number at 3711 McCain Blvd. from Little Rock’s USAble Corp.

The deal is financed with a five-year loan of $2.8 million from Simmons Bank.

USAble purchased the 0.95-acre development for $1.8 million in August 2014 from Arvest Bank of Fayetteville.

Transportation Purchase

An 8,000-SF service-garage property in North Little Rock sold for $525,000.

Elisei Cojocaru acquired the 32 Glenview Lane project from Miller Transportation Services Inc. of Jackson, Mississippi.

The deal is funded with a five-year loan of $420,000 from First Service Bank.

The 8.61-acre development was bought for $175,000 in July 1981 from Wheeling Pipeline Inc., led by R.W. Newell Jr.

Argenta Land

A 0.41-acre piece of downtown North Little Rock changed hands in a $350,000 deal.

Magnolia Holding Ventures LLC, led by Stacy Holifield, purchased the parcel at the southeast corner of Magnolia and East Eighth streets.

The sellers are East Argenta Land Holdings LLC, led by Roger Coburn Jr.; and Creex LLC, led by Fletcher Hanson III.

The land was acquired for $200,000 in December 2021 from William and Paula Jones.

Hillcrest Home

A 5,456-SF house in Little Rock’s Hillcrest neighborhood tipped the scales at $1.06 million.

Taylor and Jenny Martin bought the house from Joel Dworkin. The deal is backed with a 30-year loan of $806,000 from Little Rock’s Eagle Bank & Trust.

Dworkin purchased the residence for $1.2 million in March 2012 from Kathy Blasingame.

Rural Residence

A 4,613-SF home in west Pulaski County is under new ownership after a $934,000 sale.

Zachary and Jennifer Bulmanski acquired the house from Jason Beck. The deal is financed with a 30-year loan of $930,300 from Arvest Bank.

The 3.36-acre property was bought in March 2007 as part of a $2.4 million deal with Allen and Mary McKnight.

Reserve at Country Club

D.R. Horton Inc. of Arlington, Texas, paid Daryl Brock Custom Homes Inc. $3.2 million for 50 lots in Maumelle’s Reserve at Country Club neighborhood.

Daryl Brock purchased the 17.8-acre property in March 2022 as part of a $1.6 million deal with Colony CC LLC, led by Arby Smith.