Undeveloped acreage in west Pulaski County tipped the scales at $1.37 million.
R Ferguson Unit 204 LLLLP, led by Rick Ferguson, bought the land a mile north of Lake Maumelle and about a mile southwest of Little Italy.
The seller, Allied Bank of Mulberry (Crawford County), provided a 10-year loan of $1.2 million to finance the deal.
The property secured a June 2010 mortgage of $1.39 million held by the bank. Allied Bank recovered the land at a $1.37 million foreclosure sale in February 2011 from SEC WLR Holdings II LLC, led by Gene Cauley.
Ownership of the property shifted in July 2007 to SEC WLR Holdings II from 2610 Acres LLC, led by Ferguson. The reported value of the transfer was $2.6 million. The 100 acres also are helping secure a five-year loan of $2.03 million from Allied Bank.
This debt is secured by an additional 120 acres in the area, previously tied to an October 2007 mortgage of $1.8 million held by Centennial Bank of Conway. The property is held in the name of Ferguson’s Waterview Estates LLC.
The 120 acres also are helping secure an April 2008 mortgage of $1 million held by Centennial and a January 2012 mortgage of $575,000 held by Community State Bank of Bradley (Lafayette County), owned by Allied Bank’s holding company, Acme Holding Co.
Rental Transaction
Adjoining rental properties in downtown Little Rock are under new ownership after a $601,000 transaction.
WFM Enterprises LLC, led by Robert Lee Fleming and Doug Melkovitz, purchased the houses at 605 and 607 E. Sixth St. and the Columbia Apartments at 616 E. Seventh St.
The seller is Trapnall Place LLC, led by Jennifer Skowronski. The deal is funded with a three-year loan of $798,000 from Arvest Bank of Fayetteville.
The combined 0.93-acre development previously was linked with a September 2006 mortgage of $600,000 held by Pulaski Bank & Trust of Little Rock.
Trapnall Place bought the properties for $450,000 more than five years ago from the Larry Wells estate.
Office Space
A 2,510-SF medical office in west Little Rock changed hands in a $250,000 sale.
Baptist Health Foundation acquired the space on the ninth floor of the Medical Towers I Building at 9601 Lile Drive from Highfield Equities Inc., led by James Kyser.
The space was purchased for $114,000 in April 1974 from Medical Towers Inc., led by James Bearden.
Heights Home
A 2,700-SF home in Little Rock’s Country Club Heights neighborhood sold for $685,000. PMC Revocable Trust, led by Stacie Clyburn, bought the house. The seller is The Harris Joint Revocable Trust, led by William and Judith Harris. The deal is backed with a 30-year loan of $548,000 from Delta Trust Mortgage Inc. of Little Rock. The Harris family acquired the property for $173,000 in September 1991 from Otto and Anne Verch.
The residence previously was tied to a January 2006 mortgage of $201,716 held by Regions Bank of Birmingham, Ala.
Dialysis Financing
The owner of a 5,850-SF dialysis project in North Little Rock picked up a $3.8 million financial package.
Keith and Holly Dixon received the five-year loan from Arvest Bank. The 0.66-acre Davita Dialysis property at 4505 E. McCain Blvd. previously was tied to an October 2007 mortgage of $237,500 held by Twin City Bank of North Little Rock.
The location was purchased from Dwayne and Nancy Ruggles for $175,000 in September 1996.
Office Mortgage
The owner of a 48,000-SF office building in downtown Little Rock landed a $3 million funding agreement. No. 1 Spring Street Building Ltd., led by Greg Cockmon, got the one-year loan from Arvest Bank.
The 0.4-acre location at 101 Spring St. was acquired for $149,000 in January 1974 from the Housing Authority of Little Rock.
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