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NLR Bank Building Sells for $5.6M (Real Deals)Lock Icon

5 min read

A 113,650-SF office building in downtown North Little Rock weighed in at $5.6 million.

1 Riverfront QOZB LLC, led by T.J. Lefler, bought its namesake project from U.S. Bank of Cincinnati. The deal is backed with a seven-year loan of $9 million from Citizens Bank of Batesville.

The 4.11-acre development was part of the $154.6 million sale of TCBancshares Inc. in May 1995.

Midtown Suites

A 27-unit apartment project in midtown Little Rock tipped the scales at $1.85 million.

City of Colleges Development LLC, led by Ankur Patel and Chintu Magan, purchased Midtown Suites at 115 N. Taylor St. and 5511 A St. The seller is Bottoms Up Real Estate Investments LLC, led by Jason Mizell.

The deal is financed with a three-year loan of $1.8 million from Arvest Bank of Fayetteville. Bottoms Up bought the 0.76-acre development for $1.8 million in October 2018 from MidTown Suites LLC, led by Lane Patterson and Matt Lane.

Standard Transaction

A 13,247-SF office-warehouse in west Little Rock sold for $750,000.

Haybar Properties LLC, led by Bryan Hosto, acquired the Standard Business Systems project at 1300 Westpark Drive.

The seller is Standard Properties LLC, led by David Gulley. The deal is funded with a five-year loan of $250,000 from First Security Bank of Searcy.

Standard Properties purchased the 1.23-acre development for $850,000 in March 1999 from Richard and Dorothy Toll.

Apartment Sale I

A 10-unit multifamily project in Little Rock changed hands in a $650,000 deal.William Copeland III and his wife, Alisa, bought the Bon-Air Apartments at 3409 W. Markham St. from Stephen and Debra Morrison. The deal is backed with a five-year loan of $739,500 from Arkansas Federal Credit Union of Jacksonville.

The Morrisons acquired the 0.3-acre development for $220,000 in April 1996 from Gwen Pierce and Helen Robbins.

Apartment Sale II

A four-unit apartment property in west Little Rock drew a $335,000 transaction. Craig Jones purchased the 1615 Aldersgate Road project from APJ LLC, led by Alfred Johnson Jr.

The deal is financed with a 30-year loan of $268,000 from Broker Solutions Inc. of Tustin, California.

The 0.32-acre location was bought for $65,000 in February 2007 from E.L. and Martha Freeman.

Package Acquisition

Four adjoining properties in south Little Rock rang up a $300,000 sale. Zakir Inc. of Lilburn, Georgia, acquired the 17,470-SF retail project at 5301-5307 Mabelvale Pike from Marion’s Premier Bank of Arkansas.

In addition to this 2.07-acre development, the deal included a vacant 0.57-acre parcel on the east side of the property; a 0.23-acre parcel, home to an 864-SF commercial building at 5405 Geyer Springs Road; and a 0.59-acre parcel, home to an 800-SF commercial building at 5409 Geyer Springs Road.

The bank recovered the properties as part of a $1.1 million foreclosure sale in September 2018 from RWL Investments LLC, led by Ron Lazenby.

Industrial Purchase

A 12,000-SF industrial building in Little Rock is under new ownership after a $250,000 deal.

Wholesalers Property Co. LLC of Kettering, Ohio, bought the 10224 Sibley Hole Road project from #40 Real Estate Partnership LLC of Dallas.

The 3.89-acre development was purchased for $400,000 in December 2015 from the Danny & Rhonda Heathcock Revocable Living Trust.

Apartment Sale III

A six-unit apartment property in North Little Rock sold for $225,000.

Hollastay LLC, led by Alex and Christine Holladay, acquired the 214-222 Curtis Sykes Drive project. The seller was L Squared Properties LLC, led by Jamey and Tracy Lafever.

The deal is funded with a five-year loan of $285,277 from First Community Bank of Batesville.

L Squared bought the 0.43-acre development for $180,000 in January 2014 from First Security Bank.

Osage Terrace

A 6,817-SF home in Maumelle’s Osage Terrace neighborhood weighed in at $1.26 million.

Gaurav Dhar and Beenu Kaw purchased the residence from the Michael Nargi Living Trust. The deal is backed with a 15-year loan of $1.2 million from First Horizon Bank of Memphis.

The location was acquired in May 2012 from Jeffrey and Alice Van Patten for $123,000.

Hillcrest Home

A 3,326-SF home in the Hillcrest area of Little Rock tipped the scales at $1.09 million. Kristin and John Clark bought the house from Elizabeth and Scott McLaughlin. The deal is financed with a 30-year loan of $876,000 from First Horizon Bank.

The McLaughlins purchased the residence for $875,000 in May 2020 from Denise and Benton Whittington.

Robinwood Valley I

A 4,213-SF home in Little Rock’s Robinwood neighborhood changed hands in an $836,000 deal. David Bjorndahl and Whitney Keeton acquired the house from Angela and Kevin Wimmer.

The Wimmers bought the residence for $755,000 in August 2020 from Chanda and Carlo Chacon.

Chenal Circle

A 5,244-SF home in west Little Rock’s Chenal Circle neighborhood drew a $780,000 transaction.

John and Marie Rians purchased the house from Pete and Nancy Price.

The deal is funded with a 25-year loan of $702,000 from Regions Bank of Birmingham, Alabama. The Prices acquired the residence for $668,000 in June 2001 from David and Madeline Henry.

Rural Residence I

A 3,543-SF home in the Longwood neighborhood of west Pulaski County rang up a $750,000 sale.

The Alexander Dickens Revocable Trust bought the house from the Charlotte Leigh Caroom Revocable Trust.

The residence was purchased for $515,000 in December 2001 from Stephen and Patricia Chaffin.

Rural Residence II

A 3,376-SF home in west Pulaski County’s Marsh Road neighborhood is under new ownership after a $725,000 deal. Stephen and Kristen Woods acquired the house from the Kevin & Theresa Garland Revocable Family Trust.

The deal is backed with a 30-year loan of $275,000 from Primary Residential Mortgage Inc. of Salt Lake City.

The 23.5-acre property was bought for $100,000 in March 2002 from the estate of Marion Robison.

Robinwood Valley II

A 5,188-SF home in the Robinwood neighborhood of Little Rock sold for $660,000.

Danielle and Barton James purchased the house from the Ann Balch Ward Trust.

The deal is financed with a 30-year loan of $548,250 from Simmons Bank of Pine Bluff. The residence was acquired for $294,000 in April 1985 from James and Jeanette Flynn.

Panther Mountain Estates

A 3,976-SF home in the Panther Mountain Estates neighborhood of northwest Pulaski County changed hands in a $635,000 deal.

Jaime Wallace and Perry Zweber bought the house from the Jeffrey & Christine Ward Joint Revocable Trust.

The deal is funded with a 30-year loan of $381,000 from TIAA of Jacksonville, Florida. The 2.76-acre site was purchased for $64,000 in August 2007 from Panther Mountain Land Development LLC, led by Barry and Dana Kellerman.

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