A 261-room hotel in downtown Little Rock tipped the scales at $7 million.
OM Little Rock Inc., an affiliate of MD Hospitality Group of Chattanooga, Tennessee, bought the La Quinta Inn & Suites at 617 Broadway.
The seller is CPLG Acquisition Properties LLC, an affiliate of CorePoint Lodging of Irving, Texas. The deal is financed with a $5.8 million loan from Bank of Cleveland (Tennessee).
The 1.29-acre development previously helped secure a June 2018 funding agreement of $1 billion administered by Wilmington Trust of Delaware.
The project was acquired for $8.2 million in May 2006 from Superior Lodging, led by Atul Patel.
ARDOT Expansion
A 21,812-SF motorcycle dealership in southwest Little Rock rang up a $1.4 million sale.
The Arkansas State Highway Commission purchased the former Landers Harley Davidson-Arctic Cat facility at 10300 Interstate 30 with an eye toward expansion of the nearby Arkansas Department of Transportation headquarters complex.
The seller is I30 HD LLC, led by Steve Landers Sr., Paul Hart, Mark McLarty, Franklin McLarty and Charles Cummings.
I30 HD bought the 3.06-acre Jones Harley development for $1.3 million in September 2012 from Partners Land Development II LLC, an affiliate of Little Rock’s Hickingbotham Investments, led by Frank, Herren and Todd Hicking-botham.
Multifamily Property
A 16-unit apartment project in downtown Little Rock weighed in at $1.27 million.
AARAV Development LLC, led by Ankur Patel and Chintu Magan, acquired the 315 E. Sixth St. project. The seller is 315OnSixth LLC, led by Darshan Patel.
The deal is backed with a five-year loan of $1 million from Simmons Bank of Pine Bluff. The 0.26-acre development previously was tied to an October 2018 mortgage of $765,000 held by Farmers Bank & Trust of Magnolia.
The property was purchased for $900,000 more than 15 months ago from Peachtree Opportunity Funds LLC, led by Jill Judy and Mark Brown.
Cold Storage Acquisition
A 43,364-SF warehouse in Little Rock changed hands in an $800,000 deal.
Jesus Monroy bought the 5301 Scott Hamilton Drive project from River City Cold Storage Inc., led by Donald Kneuven.
The corporation provided a 10-year loan of $600,000 to finance the deal.
The 5.9-acre development previously was linked with a July 2005 mortgage of $440,000 held by Little Rock’s Metropolitan National Bank.
River City acquired the property for $400,000 more than 14 years ago from Heslep Storage LLC, led by Gregory Heslep.
Convenient Purchase
A dormant 6,000-SF convenience store in west Pulaski County sold for $590,000.
Virginia Boyd purchased the project at 7808 Hwy. 300 from United Lone Enterprises LLC, led by Mohammad Lone.
The 0.76-acre development previously was tied to a January 2019 mortgage of $200,000 held by Evolve Bank & Trust of West Memphis.
The property was bought 13 months ago for $200,000 from Arvest Bank of Fayetteville.
Residential Ground
Undeveloped residential land adjoining west Little Rock’s Waters Edge neighborhood drew a $484,800 transaction.
WI Properties LLC, led by Todd Witham, acquired 24.24 acres at the north end of Shadybrook Drive. The seller is HL Land Development LLC, led by Doug Hunnicutt.
The land previously was linked with an August 2015 mortgage of $382,650 held by Arvest Bank.
The acreage was purchased in April 2004 as part of a $1.2 million deal with Mystery Properties Corp., led by Mystery Willis.
North Quarter Sale
An 11,713-SF neighborhood shopping center in Sherwood is under new ownership after a $330,000 deal. Cloverdale Enterprises LLC, led by Gursharan Singh, bought the North Quarter Plaza at 9903 Brockington Road. The seller is AHBI Consolidated Inc., led by James Kincannon.
The 0.84-acre property was acquired as part of deals with Rita Wells and the estate of Claude T. Wells, $40,000 in February 1976; and H.O. Topf Jr. and his wife, Anne, $40,000 in March 1976.
Office-Warehouse Buy
A 13,268-SF office-warehouse complex in west Little Rock rang up a $287,000 sale.
BLG Holdings LLC, led by Lloyd Munsey Jr., purchased the 8600-10 Cunningham Lake Road project from Hayes and Marian Lemay.
The deal is financed with a five-year loan of $243,950 from Encore Bank of Little Rock.
The 0.94-acre property was bought as part of two deals with Henry Brothers Suppliers & Builders Inc., led by Glenn and Bernard Henry, $9,500 in April 1965; and Glenn and Ida Mae Henry, H.D. and Farrell Henry, Bernard and Gena Henry, Albert and Gail Henry and Berch and Eileen Henry, $13,300 in October 1965.
MEMS Land
A 0.61-acre parcel in downtown Little Rock changed hands in a $180,000 deal.
The Little Rock Ambulance Authority, led by Jennifer Pierce, and the Arkansas Emergency Medical Foundation Inc. acquired the land at the northwest corner of Chester and Eighth streets in a 72-28 split. The seller is the Kahn Family Partnership, led by Jimmy Moses.
The property was purchased for an undisclosed sum in June 1954 from Leah B. Trahin and Robert Bogart Jr.
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