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Landings at Rock Creek Sells for Nearly $15M (Real Deals)

5 min read

A 154-unit apartment project in west Little Rock tipped the scales at $14.95 million.

The Landings United LLC, an affiliate of FM Capital of Hollywood, Florida, acquired The Landings at Rock Creek at 13200 Chenal Parkway.

The sellers are C&W The Landings Apartments LLC and Woodcock Realty Holdings LLC of Midland, Texas.

The deal is financed with a three-year loan of $12.7 million from Arbor Realty SR Inc. of Uniondale, New York.

The 7.39-acre development was purchased for $10.5 million in February 2019 from Landings Acquisition LLC, an affiliate of Maxus Properties of North Kansas City, Missouri.

Office Transaction

A 23,476-SF office building in west Little Rock weighed in at $2.8 million.

Technology Drive LLC, led by Robert Sexton and Michael Rainwater, bought the 17 Corporate Hill Drive project from Shelter Mutual Insurance Co. of Columbia, Missouri.

Shelter acquired the 5.16-acre site for $800,000 in December 1987 from Markham Street Development, led by John Flake.

Apartment Sale I

A 16-unit apartment building in downtown Little Rock is under new ownership after a $2.7 million deal.

Saxion Enterprises LLC, led by Zachary Saxion, purchased the 315 E. Sixth St. project. The seller is AARAV Development LLC, led by Ankur Patel and Chintu Magan.

The deal is funded with a five-year loan of $2.5 million from First Community Bank of Batesville.

AARAV bought the 0.26-acre development for $1.2 million in December 2019 from 315OnSixth, led by Darshan Patel.

Petroleum Project

A 2,005-SF oil change project in Maumelle rang up a $1.82 million sale.

Stiefvater Orchards Ltd. of Bakersfield, California, acquired the Splash Express Oil Change at 113 Audubon Drive. The seller is Splash Maumelle EOL LLC, led by Paul Stagg.

The 0.63-acre location was purchased in December 2020 as part of a $2.5 million deal with Maumelle WMT LLC, led by Isaac Smith.

Apartment Sale II

A 19-unit apartment project in west Little Rock changed hands in a $1.29 million deal.

Bristol Manor Townhomes LLC, led by Luis Velez, sold its namesake property at 101 Ellis Drive. Trapp Real Estate Florida LLC of Santa Rosa Beach, Florida, and LAC Holdings LLC of Jackson, Wyoming, made the buy in an 85/15 ownership split.

The deal is backed with a five-year loan of $1 million from Armor Bank of Forrest City. The 0.81-acre project was acquired for $1 million in September 2018 from Kitterman Properties II LLC, led by John and Marsh Kitterman.

Office Land

The west Little Rock site for a future Dyne Hospitality Group headquarters sold for $1.21 million.

Smooth Opportunities LLC, an affiliate of Dyne Development, purchased the 2.79-acre parcel at the northeast corner of Ranch Boulevard and Ranch Drive. 

The seller is Ranch Properties Inc., led by Ed Willis. The deal is financed with a three-year loan of $1.4 million from First Security Bank of Searcy.

The land was bought in August 1984 as part of a $2.15 million deal with Johnson Land Co., led by Glenn H. Johnson.

Apartment Sale III

Eleven apartments in North Little Rock drew a $725,000 transaction.

Meadows Edge Properties LLC of Thousand Oaks, California, and The Pink Pearl LLC of Woodland Hills, California, acquired four units at 801-807 W. Scenic Drive, four units at 4815-4821 N. Cedar St. and three units at 2511-2515 Bay Oaks Drive.

The seller is OU812 LLC, led by Christian and Allison Baldwin. The deal is funded with a 6.5-year loan of $977,500 from Gateway Bank of Rison.

The properties were purchased in two December 2007 deals with RL Ltd., led by Larry Williford: $270,000 for the 0.27-acre Cedar Street development; and $242,000 for the 0.39-acre Scenic-Bay Oaks development.

Pups & Props

An adjoining kennel and recreational storage facility in Sherwood are under new ownership after a $680,000 deal.

S.K.Y. Properties LLC, led by Chung and Ashley Yang, bought the 1,700-SF Wagging Tails project at 14301 Hwy. 107 and 5,040-SF Premier Boat/RV Storage at 14305 Hwy. 107.

The seller is Glaze/Adams Enterprises LLC, led by Bryan Glaze and Richard Adams. The deal is financed with a five-year loan of $578,000 from Citizens Bank of Batesville.

The 8.75-acre site was acquired for $235,000 in December 2012 from Cassandra Bone.

Day Care Purchase

A 5,040-SF day care center in North Little Rock rang up a $440,000 sale.

Copper & Kind LLC, led by Julie and Caleb Price, purchased the 5101 McClanahan Drive project from Somers Avenue Church of Christ Inc.

The deal is funded with a 10-year loan of $374,000 from Encore Bank of Little Rock. The church bought the 0.54-acre development for $250,000 in February 2013 from Knollwood Associates, led by John Archer.

Shoreline Buy

A 1.6-acre parcel in North Little Rock changed hands in a $270,000 deal.

Shoreline at Rockwater LLC, led by Chris Moses, acquired the land along Riverfront Drive at the roundabout at Rockwater Boulevard from the city of North Little Rock.

The deal is backed with a one-year loan of $272,522 from Arvest Bank of Fayetteville.

The land was purchased in March 1982 as part of a $144,000 deal with the Missouri Pacific Railroad of St. Louis.

Sologne Circle

A 7,430-SF home in west Little Rock’s Sologne Circle neighborhood tipped the scales at $1.75 million.

PYM Trust, led by Monica Lo and Daniel Sherbet, bought the house from Daniel and Debbie Morrison.

The deal is financed with a 30-year loan of $1.4 million from Arvest Bank.

The Morrisons acquired the location for $240,000 in September 2003 from Darrell Baker.

Falstone Court

A 4,033-SF home in west Little Rock’s Falstone Court sold for $789,000.

William A. Parker purchased the house from Ruozhou Fan and Yaran Wen. The deal is funded with a 30-year loan of $631,200 from Angel Oak Mortgage Solutions LLC of Atlanta.

The residence was bought for $626,485 in April 2021 from Mike Kuhn Construction Inc.

Grandview Abode

A 3,562-SF home in Little Rock’s Grandview neighborhood drew a $750,000 transaction.

Caroline Miles and Joseph Byrd acquired the house from Crata Castleberry and David McCullough.

The deal is backed with a 15-year loan of $290,000 from Ally Bank of Sandy, Utah.

The residence was purchased for $669,500 in January 2015 from Randolph and Lisa Nicklas.

Park Hill

A 6,078-SF home in North Little Rock’s Park Hill neighborhood is under new ownership after a $700,000 sale.

Michael and Carole Wilson bought the house from Byron and Marilyn McKimmey.

The deal is financed with a 30-year loan of $640,000 from Citizens Bank of Providence, Rhode Island.

The residence was acquired for $350,000 in August 2004 from David Pearlstein. 

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