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NLR Residential Sites Surpass $3.4M (Real Deals)Lock Icon

4 min read

Seventy-seven lots in western North Little Rock’s White Oak Crossing subdivision weighed in at $3.46 million.

Rausch Coleman Homes Little Rock LLC of Fayetteville acquired the 15-acre property 1.5 miles west of the White Oak Crossing interchange on Interstate 40.

The seller is Northwood Creek LLC, led by David Haas, Steve Pascoe, Steve Molpus and Ray Clark.

The development is backed by a five-year funding agreement of $400 million with Texas Capital Bank of Dallas.

Northwood Creek bought the land at the southwest corner of White Oak Crossing and Fitzgerald Lane for $1.1 million in October 2012.

The transaction was part of a 20-acre deal with JKGS LLC, led by Karen Greenfield.

Multifamily Buy

A 54-unit apartment complex in southwest Little Rock tipped the scales at $2.82 million.

9700 Baseline Road LLC, an affiliate of the Allen Harrison Co. of Houston, purchased its namesake address property. The seller is Woodridge Crossing Apartments LLC, led by Jeff and Ryan Aclin.

9700 Baseline assumed an August 2020 loan of $2.2 million administered by U.S. Bank of Cincinnati.

Woodridge Crossing acquired the 1.42-acre development for $95,000 15 months ago from Centennial Bank of Conway.

Gateway Woods

Development of a 249-unit apartment project in Little Rock is in motion after a $1.63 million land deal.

Gateway Woods LLC, an affiliate of Salter Properties in Conway, bought the 8.66-acre location to build its namesake 249-unit complex.

The seller is Gateway Creek LLC, led by Isaac Smith.

Construction is financed with a 42-year loan of $33.2 million from Mason Joseph Co. of San Antonio.

Gateway Creek acquired an 89.3% stake in the property in January 2016 as part of a $4.97 million transaction with Town Center LLC, led by Tommy Hodges.

The deal encompassed 33.8 acres on the west side of Bass Pro Parkway.

Econo Transaction

A 33-room motel in south Little Rock sold for $1.43 million.

Shantikrupa LLC, led by Sajan, Ketankumar and Dipikaben Patel, acquired the Econo Lodge Inn & Suites at 9101 Mabelvale Pike.

The seller is Ran Hospitality Inc., led by Mukesh Patel.

The deal is funded with a $1.2 million SBA loan through State Bank of Texas in Dallas.

The 1.03-acre development was bought for $390,000 in February 1999 from Marion White.

Bakery Purchase

An 11,037-SF bakery project in Sherwood changed hands in a $1.27 million deal.

Making Advances LLC, led by Wes Martin and John Hathaway, acquired Flowers Bakery at 5750 Commerce Court.

The buyer is 5750 Commerce Sherwood LLC, led by Adam Hart, Wes Martin and Aaron Nicholson.

The deal is backed with a nearly 10-year loan of $922,075 from Encore Bank of Little Rock.

The 1.35-acre development was purchased for $825,000 in May 2020 from the Joyce Ramsey Trust No. 1.

Eatery Acquisition

A 6,694-SF former El Chico restaurant rang up a $520,000 sale.

JA Flooring & More Inc., led by Jesus Romero, bought the 8409 Interstate 30 project from 3303 S. 31st Street LLC of Dallas.

The deal is financed with a five-year loan of $390,000 from Arvest Bank of Fayetteville.

The 0.68-acre development was acquired in February 2007 as part of a $3.1 million deal with CRICDOM-III ELCH LLC, an affiliate of Corporate Realty Investment Co. of Boston.

Hallen Court

A 5,591-SF home in west Little Rock’s Hallen Court neighborhood weighed in at $1.14 million.

Muzif, Muhammad and Sajida Chauhan purchased the house from Richard Stephens Jr. and his wife, Centhia.

The deal is funded with a 30-year loan of $990,000 from Broker Solutions Inc. of Tustin, California.

The Stephens family bought the location for $126,000 in May 2016 from Deltic Timber Corp. of El Dorado.

Prospect Terrace

A 3,900-SF home in Little Rock’s Prospect Terrace neighborhood tipped the scales at $1.06 million.

Donnie Van Patter and Dawn Scott acquired the house from Susanna and Mechan Shermer.

The deal is backed with a 30-year loan of $400,000 from Relyance Bank of Pine Bluff.

The Shermers purchased the residence for $795,000 in July 2016 from David Weed.

Sologne Circle

A 4,979-SF home in west Little Rock’s Sologne Circle neighborhood drew an $870,000 transaction.

Thomas Lee Jr. and his wife, Sunshine, bought the house from the Jordan Joint Revocable Trust, led by Henry Jordan Jr. and his wife, Barbara.

The deal is financed with a 30-year loan of $696,000 from Ark-La-Tex Financial Services LLC of Plano, Texas.

The Jordans acquired the residence for $875,000 in September 2006 from Trevor and Tanda Stoelzing.

Walton Heights

A 3,492-SF home in the Walton Heights neighborhood of west Little Rock is under new ownership after a $712,500 deal.

Rahim and Samira Juma purchased the house from Darin Walbourn and Debra Waterford. The deal is funded with a 30-year loan of $500,000 from the Bank of England.

The residence was bought for $575,000 in March 2005 from Christopher Ligon.

River Ridge

A 3,224-SF home in the River Ridge neighborhood of Little Rock sold for $650,000.

Rosanna and Susan Kemp acquired the house from Richard and Melanie Riley.

The Rileys purchased the residence for $360,000 in December 2000 from John and Susan Fox.

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