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Park Plaza Draws $25.2 Million Sale (Real Deals)Lock Icon

4 min read

A midtown Little Rock shopping destination weighed in at $25.2 million.

University Markham Holdings LLC, an affiliate of Second Horizon Capital in Boca Raton, Florida, bought the 404,617-SF centerpiece of Park Plaza Mall at 6000 W. Markham St.

The seller is RSS WFRBS2011-C3-AR PPM LLC, an entity representing investors in a mortgage-backed securities portfolio of Wells Fargo Bank commercial real estate loans. The deal encompasses 11 acres and includes Park Plaza’s 240,843-SF parking deck and a 3,102-SF U.S. Bank branch at 6320 W. Markham St.

The property was recovered at a November 2021 foreclosure sale from Park Plaza Mall BMBS LLC, an affiliate of CBL Properties in Chattanooga, Tennessee. The sale followed a month after an $86.2 million judgment was rendered against the limited liability company.

CBL stepped into the ownership picture in June 2004 in a $77.5 million deal with Park Plaza Mall LLC, an affiliate of First Union Real Estate Equity & Mortgage Investments in Jericho, New York.

Cypress Bend

More than five dozen home sites in Maumelle’s Cypress Bend at White Oak Crossing neighborhood tipped the scales at $2.92 million.

Rausch Coleman Homes Little Rock LLC of Fayetteville acquired 61 improved residential lots from Im Development LLC, led by Steven Im.

The undeveloped land, a mile north of Maumelle Boulevard off Counts Massie Road, was bought in March 2000 as part of a $170,000 deal with Maumelle Investors Partnership I, led by Ron Fuller, Tommy Venters and Vernon Wade.

Tuf-Nut Lofts

Twenty-three apartments in downtown Little Rock rang up a $2.6 million sale.

Tuf-Nut Partners LLC, led by Darshan Patel, Rocky Govind, Nayan Nagin, Chris Moses, Greyson Skokos, George Friedman, Dave Bruning and Doug Meyer, purchased the units at 423 E. Third St. 

The seller is Tuf-Nut Lofts LLC, led by Jimmy Moses and Rett Tucker. The deal is financed with a two-year loan of $1.9 million from Arvest Bank of Fayetteville.

The 42,000-SF building and a half-acre of adjoining land were acquired for $600,000 in January 1999 from Stephens Group Inc., led by Warren Stephens.

Advance Acquisition

A 6,776-SF Advance Auto Parts store in Little Rock drew a $750,000 transaction.

RG AR Oak Street LLC of St. Louis bought the 5500 W. 12th St. project from Mark Messersmith.

The deal is backed with a $1.3 million loan from Busey Bank of Champaign, Illinois.

The 0.73-acre development was purchased for $1.7 million in June 2007 from Adva Holdings LLC, led by Kevin Huchingson.

Office-Warehouse Sale

A 4,484-SF office-warehouse in downtown Little Rock sold for $400,000.

Icon Property Management LLC, led by Justin Long, Walter Hosier and Michael Whitley, acquired the 715 S. Arch St. project.

The seller is Teeter Property Group LLC, led by Brian Teeter.

The deal is funded with a five-year loan of $396,227 from Little Rock’s Bank OZK.

Teeter Property Group bought the 0.18-acre development for $375,000 in October 2019 from Brownlee Construction Consultants LLC, led by Porter Brownlee.

Little Rock Land

A 3.19-acre commercial parcel in Little Rock changed hands in a $200,000 deal.

The city of Little Rock purchased the land at 3405 W. Roosevelt Road from the McGinnis Living Trust, led by Dale McGinnis.

The property was acquired for $100,000 in May 1991 from Martha Bringle. 

Maumelle Land I

A 1-acre commercial site in Maumelle is under new ownership after a $150,000 transaction.

H&M Partners LLC, led by Philip Munson, bought the land near the northeast corner of Commercial Park Drive and Commercial Park Court from the Maumelle Public Facilities Board.

The property was donated to the city of Maumelle in July 1999 by Gene Pfeifer.

Maumelle Land II

A 0.88-acre commercial site in Maumelle rang up a $93,000 sale.

The Maumelle Public Facilities Board acquired the land adjoining city property on the west side of Murphy Drive, south of Union Court, from H&M Partners.

The property was bought for $6,500 in January 2019 from Itzberg LLC, led by Jim Limberg.

Palisade Estates

A 6,659-SF home in the Palisade Estates neighborhood of Cammack Village weighed in at $2.4 million.

CMJ Family Trust, led by Christopher and Meredith Johnson, purchased the house from Hunter and Dustin East.

The deal is financed with a 30-year loan of $2.1 million from Encore Bank of Little Rock.

The Easts acquired the residence for $1 million in September 2003 from Scott and Lesa Bowen.

Cameronwood Residence

A 6,393-SF home in the Cameronwood neighborhood of west Pulaski County tipped the scales at $2 million.

The Will & Rachel Ford Family Trust bought the nearly 13.2-acre spread from the Overton Family Revocable Trust, led by Ford and Stephanie Overton.

The residence was purchased for $730,000 in April 2005 from the Dickey Joint Revocable Trust, led by Ed and Lila Dickey.

In October 2020, an adjoining 8.3 acres were added in a $200,000 deal with the Lawrence & Karla Back Family Trust.

Heights Home

A 4,970-SF home in Little Rock’s Forest Heights neighborhood drew a $1.7 million transaction.

Casey Mikula and Rebecca Roden acquired the house from Jeff Fuller Homes LLC.

The deal is backed with a five-year loan of $1.3 million from Encore Bank.

The location was bought in July 2021 as part of a $1 million deal with Sylvester and Irena Pupkowski.

Germay Court

A 5,214-SF home in west Little Rock’s Germay Court neighborhood sold for $1.2 million.

Harmeen Goraya and Rahul Sharma purchased the house from Daniel Sherbet and Monica Lo. The deal is funded with a 30-year loan of $1.2 million from First Horizon Bank of Memphis.

The residence was acquired for $869,000 in April 2015 from Dennis and Adrienne Tishko.

Country Club Heights

A 3,523-SF home in Little Rock’s Country Club Heights neighborhood changed hands in a $1.17 million deal.

Kale and Megan Ludwig bought the house from Zeus Capital LLC, led by Will Ford. The deal is financed with a 30-year loan of $600,000 from Citizens Bank of Providence, Rhode Island.

Zeus Capital purchased the residence for $1.1 million in April 2021 from Luis and Tish Delozier.

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