Jacksonville Apartment Properties Combine For $4.9M Sale (Real Deals)

TRI Jacksonville Properties LLC of Lakewood, New Jersey, bought four apartment properties in Jacksonville.

A group of Jacksonville apartments tipped the scales at $4.95 million.

TRI Jacksonville Properties LLC of Lakewood, New Jersey, purchased the 92-unit Park Place project at 621 and 700 Poplar St., the 56-unit Windgate Square project at 701 Poplar St., the 46-unit Stone Village project at 300 S. Hospital Drive and the 8-unit Southview project at 1201 South Road.

The combined 3.72-acre development previously was tied to a November 2016 mortgage of $3.9 million held by Arvest Bank of Fayetteville.

The seller is TRI 5 Jacksonville LLC, an affiliate of Fort Smith’s Trinity Multifamily. TRI 5 acquired the properties for $4.1 million from Blue Dog Ventures LLC, led by Joi Pryor.

Mini-Storage Purchase

A 300-unit mini-storage project in North Little Rock weighed in at $1.57 million.

Red Dot Storage 179 LLC of Louisville, Colorado, purchased AAA Mini Storage at 3400 Industrial Center Drive from Saver Self Storage AR LLC of North Salt Lake, Utah.

The 2.89-acre development now helps secure a two-year funding agreement of $200 million from Texas Capital Bank of Dallas.

The project was bought for $970,000 in February 2018 from AAA Mini Storage LLC, led by Joe Clay.

Materials Plant Buy

Construction material plants in North Little Rock and Jacksonville drew a $1.36 million transaction.

Peel River LLC, an affiliate of Madden Materials of Minden, Louisiana, acquired the concrete mixing plant and 4,200-SF office-maintenance facility at 7 Collins Industrial Place in North Little Rock and the 2214 Redmond Road project in Jacksonville.

The seller is Mid-State Construction & Materials Inc. of Raleigh, North Carolina.

The corporation is an affiliate of Martin Marietta Inc.

The 6.13-acre North Little Rock property was bought for $275,000 in August 1998 from Tri-City Concrete Inc., led by Lynn Dickey.

The 2.23-acre Jacksonville property was purchased for $53,000 in September 1989 from Steel Building Manufacturers Inc., led by Joe Ray III.

Garage Transaction

A 9,000-SF service repair garage in south Little Rock rang up a $650,000 sale.

65th Street Land Venture LLC, led by Andrew Griffin, bought the Maaco Auto Body Shop at 6101 W. 65th St. from RWD Properties LLC of Joplin, Missouri.

RWD acquired the 1.13-acre development for $825,000 in August 2005 from Pinnacle Autoworks LLC, led by Ken Hiegel Jr. and his wife, Anne.

Convenient Sale

A 1,786-SF convenience store in North Little Rock is under new ownership after a $550,000 transaction.

Surano Properties LLC, led by Sulaiman Hudda and Rahim Juma, purchased the Superstop at 1424 Locust St.

The seller is White Properties Ltd., led by Terrill White. The deal is financed with a $412,500 loan from Centennial Bank of Conway.

The 0.58-acre location was bought for $40,000 in June 1983 from Reproco Inc. of Bartlesville, Okla.

Warehouse Transformation

Conversion of a 21,750-SF warehouse in downtown Little Rock into a mini-storage facility is in motion after a $500,000 transaction.

Sudsy Car Wash LLC, led by Tracy Tisdale, acquired the old Brandon Furniture property at 1222 Garland St.

The seller is SMH LLC, led by Stan Hastings Sr. The deal is backed with a five-year loan of $1.1 million from First Security Bank of Searcy.

The 1.11-acre development was purchased for $310,000 in June 2013 from Gerald and Cynthia Scott and John Robert Nash.

Commercial Deal

A 2.1-acre commercial property in southwest Little Rock changed hands in a $120,000 deal.

Roadside Properties LLC, led by Josef France, bought the 384-SF office building at 8628 Chicot Road from Dorthy Ussery.

Ussery acquired the property for $70,000 in August 1992 from William Forrester.

Forest Heights Place I

A 3,622-SF home in Little Rock’s Forest Heights Place neighborhood sold for $675,000.

Su-Lauren Wilson purchased the residence from Claire and Wes McGeorge. The deal is funded with a 30-year loan of $399,000 from Gateway Mortgage Group of Jenks, Oklahoma.

The McGeorges bought the house for $650,000 in January 2011 from David and Melissa John.

The Courts

A 5,128-SF home in The Courts neighborhood of west Little Rock drew a $540,000 deal transaction.

Ferry and Dessy Chow acquired the house from Grant Patterson.

The deal is financed with a 20-year loan of $432,000 from Arvest Bank.

The residence previously was linked with a September 2015 mortgage of $320,000 held by First Security Bank.

Patterson purchased the property for

$565,000 in February 2015 from Sam

and Lori Altschul.

Forest Heights Place II

A 2,189-SF home in Little Rock’s Forest Heights Place neighborhood rang up a $533,000 sale.

Johanna and Eric Engelsgjerd bought the house from Jennifer and John Mil-wee.

The deal is backed with a 30-year loan of $426,000 from Simmons Bank of Pine Bluff.

The residence previously was tied to

a June 2012 mortgage of $240,000 held

by GMFS LLC of Baton Rouge.

The Milwees acquired the property for $375,000 in April 2005 from Mark and Michele Meadors.

PV Residence

A 2,892-SF home in west Little Rock’s Pleasant Valley neighborhood is under new ownership after a $504,700 deal.

Lauren and Chad Hendrix purchased the house from Robert Neighbors Jr. and his wife, Rebecca.

The deal is funded with a 30-year loan of $504,700 from Regions Bank of Birmingham, Alabama.

The residence previously was linked with a March 2019 mortgage of $364,000 held by U.S. Bank of Cincinnati.

The Neighbors family bought the property for $455,000 13 months ago from Fred Stearns Jr. and his wife, Michele.

Woodlands Edge

A 3,312-SF home in the Woodlands Edge neighborhood of west Little Rock changed hands in a $500,000 deal.

Edward Williams acquired the house from Michael & Abby Considine Living Trust. The deal is financed with a 30-year loan of $444,607 from USAA Federal Savings Bank of San Antonio.

The residence previously was tied to a March 2013 mortgage of $352,800 held by IberiaBank of Lafayette, Louisiana.

The property was purchased for $441,000 more than seven years ago from Carla Greenway.