LR Hotel Registers $6.9M Transaction (Real Deals)

Holiday Inn Express at 3121 Bankhead Drive in Little Rock. (Google Maps)

A 138-room hotel in east Little Rock tipped the scales at $6.95 million.

Maulik Hotel LLC, led by Pankaj Patel, Inderjit Singh, Parwinder Singh and Miteshkumar Patel, acquired the Holiday Inn Express at 3121 Bankhead Drive. The seller is LIT Hotels LLC, led by Shash Goyal.

The deal is financed with a $5.2 million loan from Southern Bank of Poplar Bluff, Missouri.

LIT Hotels bought the 5.44-acre development for $6 million in February 2015 from Airport Hotels LLC, led by Rajesh Mehta.

Orleans Square

A 26-unit apartment project in Little Rock weighed in at $1.56 million.

WAMM Arkansas Holdings LLC of Garden City, New York, purchased the Orleans Square Apartments at 1801 Georgia St. from TCB Investments LLC, led by Brian Teeter.

The deal is backed with an 18-month loan of $1.2 million from First National Bank of Paragould.

TCB Investments acquired the 0.69-acre development for $1 million in March 2021 from Stephen and Debra Morrison.

Artisan Acquisition

An 0.84-acre piece of downtown Little Rock changed hands in a $1.3 million deal.

East Village Hospitality Ltd., an affiliate of Little Rock’s Pinnacle Hotel Group, bought the land adjoining the south side of its Holiday Inn Express at 811 E. Fourth St.

The seller is Artisan on Collins LLC, led by Rusty Thompson. The property is helping secure a $9.7 million mortgage held by Farmers Bank & Trust of Magnolia.

Artisan on Collins purchased the land in November 2016 as part of a $1.7 million deal with Industrial Realty Co., led by Sarah Hopkins.

Cabinet Purchase

The 95,578-SF Wright’s Cabinet complex in Jacksonville sold for $1.16 million.

17 of Hearts LLC, led by Ana and Matthew Bridges, Jonathan and Kristen Kennon, Elizabeth and William Hoofman, Laura and Keith Walker and Emily and Matthew Goodhart, acquired the project at 2600 and 2609 Cory Drive.

The seller is RDH Cabinets LLC, led by Robert and Donna Heard. The deal is funded with a one-year loan of $990,000 from Jacksonville’s First Arkansas Bank & Trust.

The 13.6-acre development was bought for $2 million in two January 2017 deals with the Morden Revocable Trust, led by Billy and Linda Morden, $1.4 million; and BSJ LLC, led by Bobby Morden, Stacie Henson and Joshua Morden, $600,000.

Acreage Transaction I

A 194-acre tract in west Pulaski County is under new ownership after a $1 million transaction.

Joel and Hollie Dickens purchased the land a half-mile northwest of Raines Road from LJC Realty LLC, led by Linda C. Holbert, John Chakalas and Carrie C. Hoyme,

The deal is financed with a $400,000 loan from Pinnacle Bank of Fort Worth, Texas. The property was acquired for $160,000 in January 1980 from Elizabeth Raines Toney, Marie Raines Baugus, Samuel Raines, Twilla Ann Raines Harper, Barbara Raines and Eugene Raines.

Multifamily Buy

A 14-unit apartment project on the western edge of Little Rock rang up a $915,000 sale.

Joffrey Properties Co. LLC, led by Joffrey Clark, bought Baker School Apartments at 14707 Kanis Road from Marsh PM LLC of Los Angeles.

The deal is backed with a five-year loan of $732,000 from Southern Bancorp Bank of Arkadelphia.

Marsh PM purchased the 1.69-acre development for $692,780 in December 2020 from Williams Group Ltd., led by Nicole Williams.

Acreage Transaction II

A 49.34-acre tract near west Pulaski County’s Ferndale community drew a $650,000 transaction.

Tom Burnett acquired the land from Paragould’s First National Bank.

The bank recovered the property from Gary and Andrea Goodwin in August 2024 in lieu of foreclosure on two loans totaling $387,000.

The land was bought in March 1995 as part of an $875,000 deal with Tolson Investments Inc., led by Thomas Tolson.

Office-Warehouse Sale

A 6,190-SF office-warehouse in Sherwood changed hands in a $600,000 deal.

And Investments Co., led by Jason Andrews, purchased the Hubcap & Wheel project at 6023 Wadley Road from the Bob & Suzanne Kelly Living Trust.  The trust provided a 15-year mortgage of $900,000 to fund the deal.

The Kellys acquired the 0.79-acre development in January 2004 as part of a $240,000 deal with U.S. Bank of Cincinnati.

Oyster Property

A triplex in Little Rock’s Stift Station neighborhood sold for $210,000. Oyster Bar LLC, led by Chris Tanner, bought the 109 Booker St. project from Russell and Deborah Byrne

The Byrnes acquired the 2,160-SF residence for $160,000 in December 2019 from Scott and Anita Smith.

The Smiths purchased the 0.15-acre development for $120,000 in February 2013 from Lee Maris Jr. and his wife, Kristin.

Hallen Court

A 4,794-SF home in west Little Rock’s Hallen Court neighborhood weighed in at $1.32 million.

Daniel and Margaret Hopkins acquired the house from the Upton Family Revocable Trust, led by Kris and Karen Upton.

The trust purchased the residence for $1.2 million in December 2022 from Rector Phillips Morse Inc., led by Kris Upton. RPM bought the 0.27-acre site in May 2020 as part of a $582,000 deal with PotlatchDeltic Real Estate LLC.

Waterview Meadows

A 3,183-SF home in the Waterview Meadows neighborhood of west Pulaski County is under new ownership after a $750,560 deal.

Sarah Flynn purchased the house from Jack Ferguson LLC. The deal is financed with a 30-year loan of $675,504 from Little Rock’s Encore Bank.

Jack Ferguson acquired the 0.77-acre site for $83,500 a year ago from Waterview Meadows LLC, led by Rick Ferguson.

Paradise Lane

The James Alexander Jordan Living Trust paid the Chad & Kelly Baker Living Trust $1.65 million for a 4,921-SF house in the Paradise Lane neighborhood of west Pulaski County.

The Baker Living Trust bought the 6.56-acre property as part of a $1.32 million deal with Karen and Gary Mueller.