Change in ownership structure visits Shackleford Corporate Center.
The sale of a 50 percent stake in a 177,650-SF warehouse project in west Little Rock weighed in at $3.8 million.
ELAD LLC, led by Stephen LaFrance Jr., bought a share of the Shackleford Corporate Center at 4201 S. Shackleford Road. The seller was CDFP CM-SCC Investment LLC, led by Russell McDonough III.
The deal is financed by a five-year loan of $2.2 million from Relyance Bank of Pine Bluff.
CDFP’s stake in the 12.5-acre development previously was tied to a June 2007 mortgage of $2.3 million held by Centennial Bank of Conway.
The other half of the ownership picture is SCC Properties LLC, led by Erle T. Moore Ltd.
The project was acquired for $6.4 million more than four years ago from Cooper Commercial Properties III, led by Dewitt Smith III.
Mobile Transaction
A 93-unit mobile home park in North Little Rock shifted ownership in a $296,921 transaction.
Bethany Mobile Home Park LLC, led by Jeremiah Ashcraft, purchased the project at 6800 E. Bethany Road. The seller is Bethany Mobile Home Village LLC, led by Mike Ashcraft.
The deal is funded with a one-year loan of $382,694 from Bank of Rison. The 8.19-acre development previously was linked with an October 2013 mortgage of $330,381 held by the bank.
The property was bought for $224,549 in June 1984 from Austin Wiggins Jr. and his wife, Gloria.
Roland Residence
A 4,854-SF home west of Pinnacle Mountain rang up a $675,000 sale.
William and Rebecca Kennedy acquired the house from Craig North. The deal is backed with a 30-year loan of $540,000 from Wells Fargo Bank of Sioux Falls, South Dakota.
The residence previously was tied to a July 2007 mortgage of $675,000 held by Delta Trust & Bank of Little Rock.
The 10-acre location was purchased for $112,000 in June 2002 from Lee and Martha Kierre.
Playtime Mortgage
The owner of an 83,802-SF Playtime Pizza project in west Little Rock picked up an $8.56 million funding agreement.
Playtime Partnership LLC, led by Steve Hockersmith, obtained the 25-year loan from BancorpSouth Bank of Tupelo, Mississippi.
The 8.49-acre development previously was linked with a March 2007 mortgage of $8.5 million and a December 2007 mortgage of $1 million held by Metropolitan National Bank of Little Rock.
The land was bought for $2.78 million more than eight years ago from Glenn Ridge Crossings LLC, led by Steve Hockersmith, and LLEJ IV LLC, led by Leonard Boen.
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