A 138-room hotel in east Little Rock tipped the scales at $4.2 million.
Airport Hotels LLC, led by Rajesh Mehta, acquired the Holiday Inn Express at 3121 Bankhead Drive. The seller is H&C Little Rock Holiday Inn Express LLC, led by David Curry.
The deal is financed with a five-year loan of $6.27 million from Centennial Bank of Conway.
The 5.61-acre site was purchased for $505,000 in August 1991 from Fixed Assets Leasing Co., led by Roland Remmel; T. Ray Cannon, trustee; Edwin and Henrietta Cromwell; J.T. and Hazel Laman; the Raymond Remmel Trust; the Mary Remmel Wohlleb Trust; the Jared Jennings Lowry Trust; the Joshua Neal Lowry Trust; and the Justin Cates Lowry Trust.
Multifamily Buy
A 44-unit apartment project in southwest Little Rock weighed in at $1.65 million. 6414 Baseline LLC, led by Donald Marshall, bought the Pine Garden Apartments at 6414 Baseline Road.
The seller is Pine Garden Apartments Ltd. of St. Louis.
The deal is funded with a $1.8 million loan from Central Bank of Little Rock. The 5-acre development previously was tied to a $2.6 million loan from JPMorgan Chase Bank of Columbus, Ohio.
The property was acquired for $560,000 in August 1995 from the Department of Housing & Urban Development.
Harp’s Land
A 37,000-SF grocery store project is in motion in Sherwood after a $944,000 land deal.
Harp’s Food Stores Inc. of Springdale purchased the 4.74-acre site near the northwest corner of Highway 107 and Oakdale Road. The seller is 107-Oakdale LLC, led by Byron McKimmey.
The development is backed with a $92.5 million funding agreement from Bank of America in Charlotte, North Carolina. The land previously helped secure a May 2013 mortgage of $1.47 million held by North Little Rock’s National Bank of Arkansas.
The land was bought in February 2006 as part of an $8.3 million transaction with Metropolitan Land Co., representing the heirs of Justin Matthews and his Metropolitan Trust.
Industrial Transaction I
A 24,600-SF industrial facility in south Little Rock changed hands in a $630,000 transaction.
T&T Nesterenko Properties LLC, led by Timothy Nesterenko, acquired the 5212 W. 65th St. project. The seller is the Smith Family Trust, led by Linda Smith.
The 5.38-acre property was purchased for $171,000 in August 1993 from Lowell Bruce Marchant.
Pruned Branch I
A 2,396-SF bank branch in Sherwood is under new ownership after a $556,000 sale.
JD & Associates Properties LLC, led by Jonathan and Bethany Davis, bought the former National Bank of Arkansas project at 9400 Hwy. 107 from Arvest Bank of Fayetteville.
The deal is financed with a five-year loan of $472,600 from Arvest.
The half-acre site was acquired for $385,000 in January 2006 from JLN Properties LLC, led by James Narup.
Sutter Purchase
An undeveloped 16.9-acre tract in west Little Rock drew a $295,000 transaction.
Sutter Oil LLC, led by Luther Sutter, purchased the land on the north side of Col. Glenn Road less than a mile west of Bowman Road. The seller is the South Arkansas District Church of the Nazarene.
The property was bought in April 2006 as part of a $365,000 deal with Robert and Andre Hutson.
Warehouse Deal
A 12,116-SF warehouse project in Jacksonville rang up a $265,000 deal.
Lomanco Inc., led by Ted Belden, acquired the 8 Warehouse Row St. project. The seller is GEO I LLC, led by Doris George.
The 0.86-acre location was purchased for $125,000 in February 2000 from David and Joanne Goins.
Pruned Branch II
A 2,860-SF bank branch in Maumelle drew a $250,000 transaction.
MCB Holding Co. LLC, led by Matt Black, bought the 1.6-acre development from Arvest Bank.
The deal is funded with a five-year loan of $250,000 from IberiaBank of Lafayette, Louisiana.
The location was acquired for $416,000 in June 1999 from Gene and Linda Pfeifer.
Retail Acquisition
A 3,235-SF retail project in the Stifft Station area of midtown Little Rock sold for $175,000.
Bijou Booth LLC, led by Cynthia Booth, purchased the future home of Stifft Station Gifts & Sundries at 3009 W. Markham St. from Jason Roberts.
The 0.1-acre development previously was linked with a February 2012 mortgage of $123,500 held by Delta Trust & Bank of Little Rock.
The property was bought for $105,000 in February 2004 from Jimmy and Joyce Foster.
Industrial Transaction II
A 1.29-acre industrial parcel in east Little Rock changed hands in a $165,000 deal.
Lexicon Inc., led by Tom Schueck, acquired the land near the northwest corner of Frazier Pike and Fourche Dam Pike from Jeffrey Weatherly.
Weatherly purchased the land for $131,000 in July 2012 when the property was sold for delinquent property taxes by the State Land Commissioner.
Virginia Downs Home
A 4,051-SF home in the Virginia Downs neighborhood of west Pulaski County is under new ownership after a $702,000 sale.
John and Lesli McMorran bought the house from Robert and Ashley Stuckey.
The deal is backed with a 15-year loan of $417,000 from Delta Trust Mortgage Inc. of Little Rock and a five-year loan of $145,000 from Simmons First National Bank of Pine Bluff.
The 5.1-acre site was acquired for $120,000 in December 2011 from Brian and Lisa Turner.
Country Club House
A 2,623-SF home near the Country Club of Little Rock drew a $645,000 transaction.
James and Linda Landers purchased the house from J. Michael Carney.
Carney bought the house for $500,000 in May 2009 from Austin and Ann Marie Grimes.
Osage Falls Abode
A 4,846-SF home in the Osage Falls neighborhood of Maumelle rang up a $589,594 foreclosure sale.
The Bank of New York Mellon Trust Co. recovered the house from Christopher and Myra Lube.
The debt dates back to a January 2007 loan of $622,500 made by Boardwalk Mortgage Group LLC of North Little Rock.
The Lubes purchased the site for $59,000 in October 2005 from West Maumelle Ltd., led by David Paes.
Lamarche Residence
A 4,821-SF home in the Lamarche neighborhood of west Little Rock’s Chenal Valley development sold for $510,000. David and Maxine Greenwood bought the house from the Michael & Gretchen Kling Revocable Trust.
The deal is financed with a 30-year loan of $370,000 from Sierra Pacific Mortgage Co. of Folsom, California. The residence previously was tied to a June 2004 mortgage of $200,000 held by Countrywide Mortgage Ventures LLC of Calabasas, California.
The Klings acquired the property for $530,000 more than 10 years ago from Rector Phillips Morse Inc. of Little Rock.
Estates Mortgage
Thirty-four residential lots in Maumelle were used to secure a $6.2 million funding agreement.
Estates at Country Club LLC, led by Arby Smith, obtained the two-year loan from Stearns Bank of St. Cloud, Minnesota.
The property previously was linked with a January 2013 mortgage of $1.2 million held by Little Rock’s Bank of the Ozarks.
The land was purchased for $650,000 in November 2012 from Country Club Development LLC, led by John Wright and Jack Wilson.
West Wood Loan
The owner of a 312-unit apartment complex in west Little Rock picked up a $4.63 million financial package.
West Wood Apartments Ltd. and West Wood Apartments Phase II Ltd., led by Lindy Lindsey, received the $3.74 million and $1.9 million loans from M&T Capital Realty Corp. of Baltimore.
The 24.71-acre West Wood site at 11200 Stagecoach Road was bought for $250,000 in December 1996 from Sidney Thom.
Seven-Digit Construction
Hum’s Hardware $4,300,000
3815 and 3901 E. Broadway, North Little Rock
CBM Construction Co., Little Rock
Cavender’s Western Outfitter $1,500,000
10720 Bass Pro Parkway, Little Rock
Sherrill Construction Co., Tyler, Texas
Sign up for Daily E-news
