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Jacksonville Apartments Generate $9.4M Sale (Real Deals)Lock Icon

4 min read

A 204-unit apartment complex in Jacksonville weighed in at $9.4 million.

Jacksonville HC5 LLC, an affiliate of Haley Residential in Omaha, Nebraska, purchased the Chapel Ridge Apartment project at 950 Military Road and 1401 Stamphill Road.

The sellers are Jacksonville Housing Associates Ltd. and Jacksonville Housing Associates Ltd. II, both affiliates of ERC Properties of Rogers.

The deal is financed with a 10-year loan of $8.2 million from American National Bank of Omaha.

The 6.17-acre site at 950 Military Road was bought for $140,000 in October 2000 from Winrock Development Co., led by Russ McDonough III.

The 12.38-acre site at 1401 Stamphill Road was acquired for $168,000 in April 2002 from Ronnie and Yvonne Shrader.

Branch Buy

A 1,209-SF bank branch in west Little Rock tipped the scales at $1.7 million.

ETFCP LLC, led by Edward Bailey, James Harkins, Jared Coleman and Ryan Gibson, bought the 11000 Financial Centre Parkway project from Relyance Bank of White Hall.

The bank provided a five-year loan of $1.5 million to fund the deal.

The 1.18-acre development was purchased for $1.2 million in May 2014 from Simmons Bank of Pine Bluff. 

Sherwood Sale

A one-third stake in commercial property in Sherwood drew a $1.14 million transaction.

The Irrevocable Trust of Doyle Rogers Sr. & Josephine Raye Rogers acquired the interest of Tommy J. Lasiter Family Ltd. in 5.55 acres at the southwest corner of Warden and Brookswood roads and the 3,400-SF AT&T store at 9007 Hwy. 107 plus 9.57 adjoining acres.

This 9.57 acres was purchased as part of two deals in June 2005 with Mary Ann Bellas for $280,000 and in November 2006 as part of a $1 million deal with Lilac LLC, led by Andy Collins. 

The 0.85-acre AT&T site was bought for $200,000 in August 2015 from the estate of Michael Armbrust.

The other Sherwood property was acquired as part of three deals totaling $850,000 with Larry and Myra Shelton in June 1996, April 1997 and October 1997.

Bale Land

A 7.26-acre site in west Little Rock rang up a $1.1 million sale. Bale Family LLLP II, led by John Bale Jr., purchased the property near the southwest corner of South Shackleford and Col. Glenn roads. 

The seller is Professional Property Co. LLC Profit Sharing Plan, led by Sam Winstead. Professional Property bought the land for $785,000 in February from Toll Corp., led by Kathy Toll Watson. 

Toll acquired the property in December 1986 as part of a $230,000 deal with Arthur and Robin Erwin.

Crutch Acquisition

A 47,326-SF manufacturing facility in North Little Rock changed hands in a $675,000 deal.

2 Creeks On Crutch LLC, led by Scott Senyard, Justin Marshall and Darrell Robinson, bought the former Waco Manufacturing project at 3700 Crutcher St. from the Cox Family Trust, led by Jeanne Rae Cox.

The deal is backed with a 20-year loan of $540,000 from First State Bank of Lonoke. The 3.66-acre site was purchased for an undisclosed sum in May 1968 from M.E. and Ruth Witkowski.

Peace Maker Purchase

A 3,781-SF rent-to-own store in southwest Little Rock sold for $650,000.

Peace Maker Investment LLC, led by Germit and Amandeep Singh, acquired the 8005 Geyer Springs Road project from Stroman’s Inc., led by Megan Stroman. 

The deal is financed with a five-year loan of $520,000 from Simmons Bank.

Stroman’s bought the 0.58-acre development for $240,000 in October 1995 from 1986 Southwest Mall Joint Venture, led by John Flake, Rett Tucker and James and Patricia Kyser.

Scooter’s Outlet

Development of a Scooter’s Coffee in North Little Rock is in motion after a $425,000 deal. Adventurous Bean Holdings LLC, purchased a 1.61-acre site at the southeast corner of Maumelle Boulevard and Corporate Drive from BOE Acquisition Co., an affiliate of Bank of England.

Construction is funded with a one-year loan of $1.3 million from First Midwest Bank of Dexter, Missouri.

BOE Acquisition recovered the property as part of a November 2016 foreclosure settlement with Glover Properties LLC, led by James Glover. The land helped secure an April 2010 mortgage of $1.5 million held by Bank of England. 

Glover acquired the land for $384,000 in October 2004 from Richjohn Development LLC, led by Keith Richardson and John Burkhalter. 

Venetian Warehouse

A 37,436-SF warehouse in Little Rock is under new ownership after a $350,000 sale.

Venetian Professional Offices LLC, led by Lori Massey, bought the 3300 Brown St. project from Little Rock’s Bank OZK.

The bank recovered the 3.46-acre development 13 months ago from Kevin and Gina Womack at a $397,000 foreclosure sale.

Office Transaction

A 1,508-SF office building in west Little Rock drew a $250,000 sale.

Master Company LLC, led by TSI Pavrithan, acquired the 9911 W. Markham St. project from BDP Holdings LLC, led by Brent Medders.

The seller provided a $200,000 mortgage to back the deal.

BDP Holdings bought the 0.22-acre development for $140,000 in November 2018 from Willie Jean Kilpatrick, Ernest Farquharson and the Dale & Mary Jan Pavan Revocable Trust.

Branch Property

Ownership of a 922-SF bank branch in the Heights area of Little Rock was consolidated in a $212,500 transaction.

Rogers 5100 Kavanaugh LLC, led by Doyle Rogers Jr., sold its 50% stake in its namesake address to Tommy J. Lasiter Family Ltd. The 0.08-acre former streetcar stop, now an Encore Bank location, was acquired for $300,000 in October 2003 from Natalie Greenberg and Phyllis Kaplan.

Glen Johnson Ranch

A 7,779-SF residence in west Little Rock’s Glen Johnson Ranch neighborhood weighed in at $2.15 million.

Uday and Madhavi Akkaraju bought the home from Paulo and Teresa Ribeiro. The deal is financed with a 30-year loan of $1.7 million from Arvest Bank of Fayetteville.

The Ribeiros purchased the property for $950,000 in March 2014 from the Cynthia Gail Wilcox Revocable Trust.

Terra Bella

A 4,910-SF home in west Little Rock’s Terra Bella neighborhood tipped the scales at $1.02 million.

Kelsey Dacus acquired the house from James and Lynn McCarley. The deal is funded with a 30-year loan of $922,500 from Citizens Bank of Batesville.

The McCarleys bought the residence for $683,000 in May 2005 from Richard and Judy Burns.

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