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Otter Creek Cottages Host $5.7M Transaction (Real Deals)Lock Icon

4 min read

A 96-unit apartment project in west Little Rock tipped the scales at $5.7 million.

Otter Creek Apartments LLC, an affiliate of Read Property Group of Brooklyn, New York, purchased Otter Creek Cottages at 1 Quail Run Circle.

The seller is Otter Creek Housing Associates Ltd., an affiliate of Highridge Costa Investors of Gardena, California.

The 8.74-acre development previously was tied to a March 2003 mortgage of $2.6 million held by American Property Financing Inc. of New York.

The site was acquired for $328,000 in September 2000 from Otter Creek Land Co., led by Tommy Hodges.

Med Property
A 25,834-SF medical office building in North Little Rock weighed in at $3.86 million.

Branmat Corp., led by Stephen Sink, bought the Arkansas Pediatric facility at 4100 Heritage Drive. The seller is HD Holding Co., led by Gary Hunter.

The 3.63-acre development previously was linked with a June 2014 mortgage of $1.8 million held by Regions Bank of Birmingham, Alabama.

The project was bought for $1.6 million in January 1990 from Heritage Publishing Co., led by Leta Keenihan.

Riverdale Office
A 9,000-SF office building in Little Rock’s Riverdale area rang up a $1 million sale. Karen Cline acquired the 2200 Brookwood Drive project from the Margaret L. Kemp Revocable Trust.

The 0.71-acre site was bought for $176,000 in March 1996 from Little Rock’s Rebsamen Insurance Inc.

Multifamily Sale
An eight-unit apartment property in west Little Rock drew a $680,000 transaction.

The namesake family trust of Steve and Kristy Dillman of Ripon, California, purchased the 2021 Sanford Drive project from Tolson Investments Inc., led by T.J. Tolson.

The deal is backed with a $180,000 loan from Tolson and a $17,500 loan from R.A.R. Inc., led by Walt Dickinson.

The half-acre development previously was tied to a January 2015 mortgage of $543,019 held by FBT Bank & Mortgage of Fordyce.

Tolson Investments acquired the property for $495,000 in June 2007 from Gary and Patricia Ragsdale.

Industrial Office
A 4,795-SF office building in east Little Rock sold for $225,000.

The Little Rock Port Authority bought the Baptist Occupational Therapy project at 6800 Lindsey Road from Multi-Management Services Inc., the for-profit arm of Baptist Health.

Multi-Management purchased the 1.19-acre development for $215,000 in December 2006 from Little Rock HMA Inc. of Naples, Florida.

Electric Purchase
A 1,600-SF office-warehouse in Gravel Ridge changed hands in a $100,000 deal.

Stewart Electric Co. LLC, led by Lucas Stewart, acquired the 7701 Soto Lane project from Tyler and Justin Rhoads.

The deal is financed with a five-year loan of $35,000 from the Rhoads family.

The 0.52-acre property was bought for $86,000 in March 2006 from Alton and Amelia Green.

Country Club Manor
A 5,093-SF home in Little Rock’s Country Club Heights neighborhood tipped the scales at $1.37 million.

Brad and Emily Canada purchased the house from the Riley Family Revocable Trust, led by Martha Riley and Pat Riley Jr.

The deal is funded a 30-year loan of $1.1 million from U.S. Bank of Cincinnati. The location was acquired as part of a three-lot $652,000 deal in September 1995 from the estate of Mary Louis Walker Dick.

A 17,400-SF piece was sold to Bill and Sandra Tranum for $600,000 and a 4,350-SF strip was sold to H. Scott and Kimberly Bellingrath for $135,000.

Prospect Terrace
A 4,042-SF home in Little Rock’s Prospect Terrace neighborhood is under new ownership after an $832,500 transaction.

Florin and Adriana Grigorian bought the house from James and Emily Burrow. The deal is backed with a 13-year loan of $664,000 from Regions Bank.

The residence previously was linked with a September 2012 mortgage of $417,000 held by First Security Bank of Searcy.

The Burrows purchased the house for $525,000 in November 2002 from Matthew and Elisabeth Estes.

Ensbury Place
A 4,168-SF home in the Ensbury Place neighborhood of west Little Rock’s Chenal Valley development rang up a $665,000 sale. Johnathan and Julia Goodwin acquired the house from Dillon Homes & Real Estate Inc., led by Janet Dillon.

The deal is financed with a five-year loan of $669,283 from Citizens Bank of Batesville. The residence previously was tied to a February 2018 mortgage of $523,000 held by First Security.

The location was bought for $94,000 in December 2017 from Deltic Timber Corp. of El Dorado.

PV Residence
A 4,102-SF home in west Little Rock’s Pleasant Valley neighborhood drew a $570,000 transaction.

William and Catherine Thorpe purchased the house from Robert and Molly Young.

The deal is funded with a 30-year loan of $456,000 from IberiaBank of Lafayette, Louisiana. The residence previously was linked with an August 2013 mortgage of $546,250 held by BancorpSouth Bank of Tupelo, Mississippi.

The Youngs acquired the house for $493,000 in September 2013 from Michael and Kathy Rainwater.

Mirabel Court
A 3,394-SF home in the Mirabel Court neighborhood of west Little Rock’s Chenal Valley development sold for $564,000.

Hasbi and Ozlem Ugur bought the house from David and Julie Fonvielle. The deal is backed with a 30-year loan of $479,000 from Bank of Little Rock Mortgage Corp.

The residence previously was tied to a March 2017 mortgage of $395,200 held by the corporation.

The Fonvielles purchased the house for $494,000 a year ago from RQM LLC, led by Russell Milam.

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