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Midtown Park Sale Tops $5.1M Mark (Real Deals)Lock Icon

5 min read

A 132-unit apartment complex in midtown Little Rock tipped the scales at $5.15 million.

AMG Midtown LLC, an affiliate of AMG Realty Group of Skokie, Illinois, bought the Midtown Park project at 6115 W. Markham St.

The seller is P.T. Apartments Ltd., an affiliate of LEIDC Realty in Memphis.

The deal is backed with a $4.1 million loan from Royal Savings Bank of Chicago.

The 2.09-acre development previously was tied to a $4.9 million funding agreement through the Pulaski County Public Facilities Board.

The property was purchased for $4.1 million in October 2004 from Plaza Towers Apartments LLC, led by Joe Selz.

Walgreens Sale

A 13,698-SF Walgreens in Sherwood weighed in at $3.23 million.

L2 Baltimore LLC, an affiliate of L2 Partners in Miami, acquired the 8521 Hwy. 107 project from Mar Wall Sherwood LLC of Coral Gables, Florida.

The deal is funded with a seven-year loan of $2.4 million from Bank of America in Charlotte, North Carolina.

The 1.27-acre development previously helped secure a September 2014 mortgage of $14 million held by Union Bank & Trust Co. of Leawood, Kansas.

Mar Wall bought the project for $3.3 million five years ago from Steven & Rebecca Smith LLC of Boise, Idaho.

Clinical Acquisition

Medical office space in west Little Rock drew a $2 million transaction.

Baptist Health of Little Rock purchased 5,081 SF in the Medical Towers II Building at 9501 Lile Drive from Ronald and Ellen Hardin.

The space was assembled in three deals totaling $557,000.

The sellers were ACC Land Co., led by Drs. James Boger, Douglas Holloway, Stephen Greer and Kimber Stout, $457,000 in January 1992; Medical Towers II Development Co. Ltd., led by John Flake, $82,000 in August 1992; and Baptist Health, $18,000 in July 1997.

Multifamily Purchase I

A 64-unit apartment complex in south Little Rock rang up a $1.2 million sale.

Applegate Investments LLC, led by John Dennis and Kurtis Cochran, bought Berwyn Square Apartments at 6320 Butler Road.

The seller is Town Creek LLC, led by Rick Ferguson.

The deal is financed with a five-year loan of $3 million from Jacksonville’s Arkansas Federal Credit Union and a $300,000 construction loan from Town Creek.

The 2.26-acre development previous-ly was linked with a June 2018 mortgage of $600,000 held by Malvern National Bank. Town Creek gained ownership through a February 2018 swap valued at $980,000.

A Baby Acre by Grid LLC, led by Andrew Adkins, traded the apartments for a 0.3-acre commercial site at the northeast corner of Asher Avenue and Cedar Street in Little Rock and four residential lots covering 5.4 acres in the Waterview Estates neighborhood of west Pulaski County.

Multifamily Purchase II

A 16-unit apartment project in North Little Rock changed hands in a $720,000 deal.

Pershing Holding LLC of Glendale, California, acquired Pershing Place Apartments at 2750 W. Pershing Blvd. from Apartment House Builders Inc., led by James Kincannon.

The 1.26-acre location was bought in June 1983 as part of a 48-acre, $251,000 deal with the United States of America, through the General Services Administration.

Office-Warehouse Buy

A 14,028-SF office-warehouse in the Otter Creek area of Little Rock sold for $605,000.

HSC-11701 Otter Creek LLC, an affiliate of Handling Systems & Conveyors of Dallas, purchased the 10711 Otter Creek East Blvd. project.

The seller is LTL Enterprises LLC, led by Danny Petty and Richard Cross.

The 2.03-acre development previously was tied to a December 2013 mortgage of $355,050 held by Regions Bank of Birmingham, Alabama.

LTL Enterprises acquired the property for $500,000 in June 2006 from Condor Corp., led by David Baumgardner.

Office Transaction I

A 6,896-SF office building in downtown Little Rock is under new ownership after a $380,000 deal.

Brice Grayson LLC, led by Kevin Wilcox, bought the Pinnacle House project at 1520 10th St. The seller is Maple Park Co. LLC, led by Caroline Stevenson and Gretchen House.

The deal is backed with a one-year loan of $647,760 from Bank of Little Rock.

Maple Park purchased the property for $140,000 in August 1984 from W.C. McMinn Co., led by Ben McMinn.

Office Transaction II

A 2,912-SF office building in downtown Little Rock drew a $270,000 transaction.

809 W. 3rd LR LLC, led by James Bartolomei III and Phillip Duncan, acquired its namesake address.

The seller is S&A Long Properties LLC, led by Susan Long.

The deal is funded with a 10-year loan of $216,000 from IberiaBank of Lafayette, Louisiana.

The 0.14-acre development previously was linked with a February 2016 mortgage of $130,000 held by Farmers & Merchants Bank of DeWitt.

The property was bought for $210,000 in August 2002 from WECC Investments LLC, led by Stephen Engstrom and Gary Corum.

Special Ops Move

A 5,776-SF industrial project in south Little Rock rang up a $215,000 sale.

Special Ops Uniforms of Arkansas Inc., an affiliate of Uniforms of Tennessee in Williamsport, purchased the 6320 Scott Hamilton Drive property. The seller is SNS LLC, led by Scott Smith.

SNS acquired the 0.73-acre development for $230,000 in November 2010 from G.K.J. Family Ltd., Gerald K. Johnson Sr.

Estates Sale

A 5,422-SF home in the Mills Mountain Estates neighborhood of west Pulaski County changed hands in a $730,000 deal.

Jacob and Victoria Stover bought the house from Chad and Patricia Jones. The deal is financed with a 30-year loan of $484,300 from Highlands Residential Mortgage Ltd. of Dallas.

The Joneses purchased the 5-acre site for $65,000 in July 2011 from Mills Mountain Estates LLC, led by Timothy King.

Overlook Park

A 3,467-SF home in Little Rock’s Overlook Park neighborhood sold for $678,997.

Billy Shurley Jr. and his wife, Kimberly, acquired the house from Ann Bryan.

The deal is backed with a 30-year loan of $543,100 from Wells Fargo Bank of Sioux Falls, South Dakota.

The residence previously was tied to an August 2012 mortgage of $417,000 held by First Security Bank of Searcy. The property was bought for $500,000 in September 1996 from Donald and Jeanne Seewald.

Lamarche Place

A 4,971-SF home in the Lamarche Place neighborhood of west Little Rock’s Chenal Valley development is under new ownership after a $525,000 deal.

Ladd Family Trust, led by Gerald and Heather Ladd, purchased the house from Scott and Catherine Manchester.

The deal is funded with a 30-year loan of $472,500 from State Farm Bank of Bloomington, Illinois.

The residence previously was linked with an August 2012 mortgage of $400,000 held by Little Rock’s Delta Trust Mortgage Inc.

The Manchesters acquired the property for $528,000 in November 2009 from Steven Kulik Jr. and his wife, Gina.

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