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Hampton Inn Hosts $13.5M Foreclosure (Real Deals)Lock Icon

4 min read

A 119-room hotel in downtown Little Rock changed hands in a $13.55 million foreclosure sale.

RSS Comm 2013-LC13-AR MLRH LLC, an investment group in a bundle of mortgage-backed securities, recovered the Hampton Inn & Suites at 320 River Market Ave. from MHG of Little Rock LLC, an affiliate of McKibbon Hotel Group of Tampa, Florida.

The 0.34-acre development was tied to an August 2013 mortgage of $15.6 million. The location was purchased for $1.2 million in March 2007 from River Market South LLC, led by Jimmy Moses and Rett Tucker.

Mobile Transaction

A 21.5-acre mobile home development in west Little Rock tipped the scales at $7.75 million. OW Shackleford LLC, an affiliate of Oak Wood Ventures of Dallas, acquired the Shackleford Mobile Home Park at 4023 S. Shackleford Road from Shackleford Associates Ltd. of Bloomfield Hills, Michigan.

The deal is financed with a 10-year loan of $4.6 million from JLL Real Estate Capital LLC of St. Paul, Minnesota.

The property was bought from Bill and Margaret Leggett for $550,000 in September 1989.

Cross Street Sale

A 12.35-acre commercial spread in North Little Rock weighed in at $2.5 million. Cross Street Service Inc., led by Don Salmon, sold its complex at the northeast corner of East McCain Boulevard and Forrester Road to C.A.T. Industrial Properties LLC of Charlotte, North Carolina.

The limited liability company also bought an adjoining 7,336-SF office building at 3803 Roundtop Drive from the estate of Tom Salmon for $600,000. The 0.82-acre property was purchased for $160,000 in August 1998 from Mary and Daphne Johnson.

The other property was assembled as part of 15 deals totaling more than $962,000. The sellers were Fay Shirley, $275,000 in January 1997; L.B. and Evie Reynolds, $53,000 in January 1997; Tom Jackson, $45,000 in January 1997; Robert and Levenia Crigger, $40,000 in January 1997; Louis and Bobbie Goshien, $26,000 in February 1997; Alice Carter, $36,000 in March 1997; Ira and Rose Alford, $23,000 in March 1997; Amy Wood, $140,000 in April 1997; J.C. and Erma Phillips, $48,000 in June 1997; Joy and Juanita Strickland, $86,000 in July 1997; Earnestine Williams and Tommy and Candy Wilson, $45,000 in January 1998; Luther Mayweather, $29,000 in January 2003; Crowder Family Living Trust, led by Elbert Crowder Jr. and Dorothy Stogner, $50,000 in June 2004; Emigene Rankins and Virgil Rankins, $65,000 in August 2005; and city of North Little Rock, $1,600 in January 2022.

Mini Acquisition

A 621-unit mini-storage project in Jacksonville sold for $3.76 million. Arkansas Storage Centers XI LLC, led by Stuart Finley, purchased Northgate Mini Storage at 503 and 520 Northgate Drive.

The seller is Northgate Mini LLC, led by Kevin Huchingson. The deal is backed with an 18-month loan of $3.2 million from Citizens Bank of Batesville.

The three-acre development at 503 Northgate Drive was bought for $1.4 million in January 2003 from Northgate Mini-Storage LLC, led by Marc Yelenich and Anthony Wray. The 1.96-acre property at 520 Northgate was acquired for $556,000 in January 2003 from Willis Smith, Bernard Kaiser, Byron McKimmey and Virginia McKimmey and Thomas and Emily McRae.

Rich Purchase

A 13,686-SF office building in North Little Rock rang up a $1.35 million sale.

Rich Transport LLC of Cudahy, Wisconsin, acquired the Salmon Cos. facility at 4600 E. McCain Blvd. from Faulkner Lake 391 LLC, led by Don Salmon.

The 3.06-acre development was bought for $1.6 million in June 2015 from State Farm Mutual Automobile Insurance Co. of Bloomington, Illinois.

TADS Investment

An 18,900-SF office-service garage and 3,600-SF warehouse near North Little Rock drew a $1.2 million transaction.

TADS Investments LLC, led by Tremayne Harris; and Rhoten Investments Inc., led by Charles Rhoten, purchased the 7508 MacArthur Drive project. The sellers are Edmonson Investments RE LLC, led by Ronald Edmondson, and the estate of Sherrill Edmondson.

The deal is funded with a four-year loan of $1.2 million from Petit Jean State Bank of Morrilton. The 11.8-acre development was acquired for $225,500 in August 1991 from Maverick Investments Inc., led by John Homan.

Hatcher Buy

A 34,872-SF mixed-use commercial and parking project in downtown Little Rock is under new ownership after a $1.07 million deal.

300 S. Broadway LLC, led by Joe Carter, sold its namesake address to Hatcher Properties Inc., led by Greg Hatcher.

The 0.48-acre property was purchased for $545,000 in December 2015 from Gay Oil Co., led by Jerry Gay.

Office Property

A 1,683-SF office building in North Little Rock changed hands in a $300,000 transaction.

Tham Nguyen’s namesake limited liability company acquired the 5119 John F. Kennedy Blvd. project.

The seller is B & P Properties LLC, led by Patricia Callahan.

The deal is financed with an eight-year loan of $205,000 from Merchants & Farmers Bank of Dumas. The 0.25-acre development was bought for $225,000 in January 2006 from Family Eye Clinic Properties, led by Rick Meador and Roger Neal.

Sologne Circle

A 9,415-SF home in west Little Rock’s Sologne Circle neighborhood tipped the scales at $2.5 million.

1023 Bond Investment Properties LLC, led by Scotty White, purchased the residence from Jay and Julia Moss.

The 0.65-acre site was acquired for $385,000 in 2006 from Scott Schlesinger.

Deauville Place

A 7,684-SF home in west Little Rock’s Deauville Place neighborhood weighed in at $1.35 million.

Michael and Jennifer Blanscet bought the house from Donald Marshall Jr. The deal is backed with a 30-year loan of $1 million from JPMorgan Chase Bank of Columbus, Ohio.

Marshall purchased the residence for $875,000 in February 2017 from Robert Clancy Jr. and his wife, Debbie.

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